# Prints and advertising

Source: https://storiara.com/glossary/prints-and-advertising
Last updated: 2026-09-14
Author: Charles Hirschhorn, Storiara

> Prints and advertising (P&A) is the cost of releasing a finished film to audiences: DCPs or other exhibition files, trailers and key art, paid media, publicity, festival campaigns, and related distribution expenses. It's separate from the production budget and negative cost, is usually spent by the distributor, and is typically recouped from film revenue before profits are paid.

## What a P&A budget contains

A small theatrical and digital release for an indie drama might plan its spend like this. The numbers are illustrative and would come from the distributor's release plan:

| Category | Amount |
|---|---|
| Trailer, TV spots, social cuts | $35,000 |
| Key art and one-sheet | $12,000 |
| Paid digital and social media | $140,000 |
| Publicist and press screenings | $40,000 |
| DCPs, delivery, and exhibition fees for a 40-screen release | $28,000 |
| Festival awards campaign | $25,000 |
| **Total P&A** | **$280,000** |

Total check: $35,000 + $12,000 + $140,000 + $40,000 + $28,000 + $25,000 = $280,000.

## How P&A affects the producer

Distributors usually recoup P&A first. If the film earns $650,000 in distributor receipts and the distributor takes a 30% fee, the waterfall might run:

- Distribution fee: $650,000 x 0.30 = $195,000
- P&A recouped: $280,000
- Remaining to producer: $650,000 - $195,000 - $280,000 = $175,000

If P&A had been capped at $150,000 in the [distribution agreement](https://storiara.com/glossary/distribution-agreement), the producer would receive $305,000 instead. A P&A cap, or at least approval rights over spend above a threshold, is one of the most important terms an independent producer negotiates.

## Why it's kept out of the production budget

The production budget measures the cost to make the film, and the [negative cost](https://storiara.com/glossary/negative-cost) is what lenders, completion guarantors, and SAG-AFTRA tiers look at. P&A is spent later, by different people, and recouped in a different position in the [waterfall](https://storiara.com/glossary/waterfall). Mixing them makes it impossible to compare the film to others or to calculate [recoupment](https://storiara.com/glossary/recoupment).

## What producers do control

Even when the distributor pays P&A, the producer's [deliverables](https://storiara.com/glossary/deliverables) affect it: a good trailer cut from dailies, clean stills from the [still photographer](https://storiara.com/roles/still-photographer), and EPK interviews shot during production all save release money later. Budget those in the production budget's publicity account. The [P&L projection](https://storiara.com/blog/the-p-l-projection-predicting-the-success-of-your-film) post shows how P&A assumptions change investor returns.

## Frequently asked questions

### Who pays for P&A on an independent film?

Usually the distributor, which recoups it from the film's revenue before paying the producer. Some producers raise a separate P&A fund for a self-distributed or service-deal release.

### Is P&A part of a film's budget?

Not the production budget. It's a separate release budget, and it isn't part of negative cost. Investors should see both numbers if they're funding both.

### What does 'prints' mean when films are digital?

The term survives from 35mm release prints. Today it covers DCP creation and duplication, delivery to theaters, and in some deals virtual print fees or platform encoding.