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Truly Free Film

Screen Forever 2013: Co-Financing with the USA

by Andrew Einspruch

Filmmaker Andrew Einspruch attended Screen Forever 2013, the conference of Screen Producers Australia, this past year and wrote a series of articles for the event, which he’s kindly allowing us to reprint here. These articles originally appeared in Screen Hub, the daily online newspaper for Australian film and television professionals.

A session at Screen Forever looked at some of the ins and outs of financing a feature film with some amount of money from the USA. Andrew Einspruch reports that success factors range from making sure the Aussie elements of the project work to developing credibility as a producer.

One of the key differences between making a film with a USA-based company versus, say, a Canadian, British or French firm, is there is no official co-production treaty. In fact, co-pro treaties are in place specifically to counter the might of Hollywood.

Even so, plenty of Australian productions have a USA component, and the lack of official co-pros simply means the deals have to stack up on some other basis. These elements were explored in a session called “Working with the USA: the Eagle and the Kangaroo”, moderated by lawyer Craig Emanuel of Loeb & Loeb, and which brought together producer Tony Ginane of FG film Productions, sales agent Clay Epstein of Arclight Films, distributor and EP Greg Coote of Larrikin and China Lion, and Tracey Vieira, representing Ausfilm.

The bad news is that the USA remains difficult terrain. It is still very hard to pre-sell North American rights, and the trend with studios (as reported previously) is they are making fewer, more expensive, mostly tentpole films. This, in turn, puts pressure on North American distribution, and forces projects to get financed without it.

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Truly Free Film

Co-Production Studies: Strategic Partners Forum

Guest post by Yael Bergman

A few days at Strategic Partners, Halifax, Canada and a crash course at International Co-Production Financing.

I saw Ted in Toronto a few days before heading to Strategic Partners in Halifax, Nova Scotia, Canada. He suggested I write on his blog with what went on there. I am reporting back now…

I write this as an Australian producer who recently produced a romantic comedy in Australia called I Love You Too.  It was completely financed within Australia, largely with Australian and state government investment, and the tax rebate (up to 40 per cent of Australian spend). We are fortunate in Australia to have this public funding as a resource, and whilst it is perpetually competitive, it is the way most film and television is made in Australia. It sustains the industry and ensures we continue to tell Australian stories.

My producing partner, Laura Waters, who is originally from Colorado but has lived in Australia for almost 20 years, regularly comments that she can’t believe governments actually give you money to develop and make stuff here. Well, it’s true!

To some independent American producers, this must sound like the gold pot at the end of the rainbow, but the reality is it’s a limited pool and the funding bodies (and consequently, the producers) are always trying to work out a way to make it stretch further.

One good way is via co-producing, i.e. we split the cost of making a project over two or more countries that has a vested interest, and then we can each claim it as our own as a “national film”. Arguably, the project should be culturally relevant to each producing country and there needs to be a fair split between creative elements and financial contribution, but on the whole, with a bit of juggling, it can work very well if the project calls for it.  (NB: This applies for international producers entering into an official co-production with Australia, the project becomes automatically entitled to the Producer Offset rebate as an Australian project, up to 40% of Australian spend.)