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Independent means one thing to me: It means that regardless of the source of financing, the director's voice is extremely present. It's such a pretentious term, but it's auteurist cinema. Director-driven, personal, auteurist... Whatever word you want. It's where you feel the director, not a machine, at work. It doesn't matter where the money comes from. It matters how much freedom the director has to work with his or her team. That's how I personally define independent movies.
