Executive producers are usually the people that work for the studio.
For example:
Let's say Jane Smith is development executive and Joe Jones is production executive at New Line. Michael Miller is President of new line.
New Line produces and releases movie Pandapalooza.
Jane Smith brought the script for Pandapalooza into the studio, presented it to production.
Production (Joe, Michael) gave it a green light.
Joe Jones oversaw production for studio.
therefore Michael Miller, Jane and Joe are executive producers. Studio is the financier.
In the case of independent films, its a totally different ballgame.
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