€1.4bn investment in films
by Fabien Lemercier
17/03/2011 - Presented yesterday to the press by Eric Garandeau, president of the National Film and Moving Image Centre (CNC), the 2010 results for French film production offered a more detailed overview of the good news unveiled in January (see news): a record number of 261 features and rising investment at €1.43bn (+31%).
"2010 was an excellent year and it’s difficult to detect any negative points," insisted the CNC president. "What is remarkable is that the growth in investment was spread equally across all budget brackets. Now we must make sure we maintain the quality and diversity of financing, for example with an adjustment of the tax credit, the renewal of SOFICA, the renegotiation of the CNC’s agreements with regions and by encouraging TNT networks to invest in cinema."
A detailed analysis of the financing of the 203 French initiative films (FIF) accredited last year confirms the major role of television companies which covered 32.4% of investment with Canal+ (€194.57m of pre-acquisitions for 155 films – a double record since the network’s creation – including 133 FIFs and 22 minority co-productions); TPS Star (€12.7m); Ciné Cinéma (€23.01m); and Orange Cinéma Séries (€23.38m).
The non-subscription channels which offer co-production support and pre-acquisitions increased their investment by 21.9% compared to 2009, including TF1 (€48.83m), France 2 (€35.34m), France 3 (€26.27m), M6 (the only one down at €14.52m) and Arte France (€10.27m).
There was good news too for international sales which were re-boosted after the previous year’s severe crisis: money from foreign rights rose to 6.5% of FIF financing (compared to 2.6% in 2009) and amounted to €81.93m in 2010 for a total of 84 films. On the other hand, the MG (minimum guarantees) from theatrical distribution continued to fall at €114.67m (compared to €125m in 2009 and €156m in 2008) and 9.7% of FIF financing.
Money from video rights increased to €8.13m, while the contribution from SOFICA (companies investing in film and audiovisual production) shot up to €48.88m.
On the state funding side, the main sources were the CNC’s automatic support fund (€66.96m), the advance on receipts (€25.26m), grants from regional authorities (€22.01m) and the tax credit which benefited 137 FIFs.
(Translated from French)