The Setting is where the characters exist. A film could have multiple locations and in some cases multiple times. Think of the last film you saw. For example the movie The Martian occurs on the surface of the planet Mars, NASA offices, and a space craft.
Time is also a major part of your setting. Think about the differences that would exist now compared to 30 years ago. How different are clothing choices, the look of cars, or how people communicate? In the long running television series Doctor Who frequently travels to London, but due to the time-travelling nature of the show it could years in the future, the past, or possibly even some spin-off of the present.
The characters are the people, animals, or elements that we follow in the story. The story needs characters for your audience to relate too, love and/or hate. A story will have a protagonist. The protagonist is the leading character or one of the major characters in a drama, movie, novel, or other fictional text. In the series of films Indiana Jones we have a single character with very distinct traits. Think of his clothing. His hat, clothing, and even his whip are unique to his character. Remember also that he is professor and, of course, the best archaeologist in the world. Defeating Nazi's and even meeting with aliens, are all part of the story.
Every protagonist needs a antagonist. Someone that fights against them. Think about this for a minute..... Superman and Lex Luther, Batman and the Joker, Luke and Darth Vader. Wait that just got more complex. During a film the protagonist will rise up to be the hero. In the film Unbreakable the protagonist must be coached to be the hero once the antagonist has found him.