Germany to focus on government coin
In today's Variety comes news that "German Chancellor Gerhard Schroeder has greenlit a d90 million ($110 million) government fund to support the local film industry over the next three years." Of course this is not much of a replacement for the "private film funds, which last year raised an estimated $1.9 billion, 90% of which was used to fund studio or international indie movies."
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Much like their British brethren, this money comes with country-specific requirements, including "requiring that five times the amount of the loan be spent in Germany." Not unlike the requirements of the private film funds, "producers must also show that they have at least 80% of the budget covered and a legally binding distrib deal in place..."
While Variety notes that VIP and Equity Pictures are going on a roadshow to highlight the continued necessity of private equity funds, coupled with Britain's announcement this weekend signals that the familiar world of international co-productions is going to become less familiar.
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