The Amateurs
(aka The Moguls)
(2005/8)

Jeff Bridges leads a group of losers from a small town to produce an amateur porno film with little money and no experience.  After many ups and downs, the film is completed but the brother of one of the "stars" burns the only copy of the film.  Lucky for our heroes, the cinematographer had been constantly using his little camcorder to document the making of the film.  They edit the footage, borrow 50 grand for a transfer to 35mm and sell it to a distributor because apparently "the journey is more rewarding than the destination".  

Thanks Don P!