Comments on: Portugal: The Straw That Breaks The Back of Independent Film Financing? http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/ Innovation, Information, Expertise Sat, 04 May 2013 17:19:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Tweets that mention Portugal: The Straw That Breaks The Back of Independent Film Financing? | Jeff Steele's Film Closings -- Topsy.com http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-448 Tweets that mention Portugal: The Straw That Breaks The Back of Independent Film Financing? | Jeff Steele's Film Closings -- Topsy.com Sat, 01 May 2010 03:05:21 +0000 http://filmclosings.com/?p=370#comment-448 [...] This post was mentioned on Twitter by VDO Vault, Chris Pluchar and Chris Pluchar, Jeff Steele. Jeff Steele said: Germany will bail out Greece, but the dominos are still falling for Portugal and Spain. http://bit.ly/d2JSlH #FilmFinance #ForeignSales [...] [...] This post was mentioned on Twitter by VDO Vault, Chris Pluchar and Chris Pluchar, Jeff Steele. Jeff Steele said: Germany will bail out Greece, but the dominos are still falling for Portugal and Spain. http://bit.ly/d2JSlH #FilmFinance #ForeignSales [...]

]]> By: steelejeff http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-192 steelejeff Fri, 02 Apr 2010 07:09:43 +0000 http://filmclosings.com/?p=370#comment-192 I'll be doing a post in the near future on currency hedging...stay tuned... I’ll be doing a post in the near future on currency hedging…stay tuned…

]]> By: Stan http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-191 Stan Fri, 02 Apr 2010 02:44:12 +0000 http://filmclosings.com/?p=370#comment-191 By far, a very in-depth article there Jeff. What a take on the 'butterfly effect.' As my company name implies, I'm gearing towards credits and incentives in Louisiana. I'm biased as I grew up there. However, they have about the same crew problem as Michigan -- limited depth. Several of my projects in New Orleans suffered from lack of quality crew talent. Hopefully, the quality will increase over time. Oh look, The Economist has an article about shooting in Louisiana. The line from The Economist which chills me the most, "California’s world share of studio films (ie, those made by the six biggest studios) dropped from 66% in 2003 to 34% in 2008, she estimates, and has fallen further since then." Cold hard facts. By far, a very in-depth article there Jeff. What a take on the ‘butterfly effect.’

As my company name implies, I’m gearing towards credits and incentives in Louisiana. I’m biased as I grew up there. However, they have about the same crew problem as Michigan — limited depth. Several of my projects in New Orleans suffered from lack of quality crew talent. Hopefully, the quality will increase over time.

Oh look, The Economist has an article about shooting in Louisiana.

The line from The Economist which chills me the most, “California’s world share of studio films (ie, those made by the six biggest studios) dropped from 66% in 2003 to 34% in 2008, she estimates, and has fallen further since then.”

Cold hard facts.

]]> By: Stan http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-190 Stan Fri, 02 Apr 2010 02:17:59 +0000 http://filmclosings.com/?p=370#comment-190 "Easily hedge out currency exposure..." how? “Easily hedge out currency exposure…” how?

]]> By: Jana http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-189 Jana Thu, 01 Apr 2010 07:54:13 +0000 http://filmclosings.com/?p=370#comment-189 Western Europe's screenwriters are trying to appeal to their Eastern neighbors with storylines out of their traditions, because the typical American storylines don't resonate with these countries. It would be nice to see the Hollywood system finished up for good. Western Europe’s screenwriters are trying to appeal to their Eastern neighbors with storylines out of their traditions, because the typical American storylines don’t resonate with these countries.

It would be nice to see the Hollywood system finished up for good.

]]> By: Jim Donovan http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-188 Jim Donovan Wed, 31 Mar 2010 03:48:28 +0000 http://filmclosings.com/?p=370#comment-188 I made a deal to get my financing from Micheal Jackson after I get back from my extended vacation where I stayed free of media. He's WHAT?? I made a deal to get my financing from Micheal Jackson after I get back from my extended vacation where I stayed free of media. He’s WHAT??

]]> By: steelejeff http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-187 steelejeff Tue, 30 Mar 2010 03:17:45 +0000 http://filmclosings.com/?p=370#comment-187 Thanks Joel. Everything you said about the California credit is true, but the <a href="http://money.cnn.com/2009/07/02/news/economy/California_IOUs/" rel="nofollow">"IOU"</a> part of this was too good (and too easy) to pass up. Thanks Joel. Everything you said about the California credit is true, but the “IOU” part of this was too good (and too easy) to pass up.

]]> By: Joel Baral http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-186 Joel Baral Tue, 30 Mar 2010 00:41:38 +0000 http://filmclosings.com/?p=370#comment-186 California does have a Film and TV tax credit that provides 20-25% tax credit on mainly BTL spend here in California. It's a tax credit, so no checks will be written - tax credit certficates will be issued. Another $100,000,000 allocation will be available June 1 of this year. Here is the CA Film commission website. http://www.film.ca.gov/Incentives/ It is working and the modest credit when you don't have to pay travel expenses many times beats other travel locations. Also there was a very important changes - recently, independant films where a company can sell the credit was $1-$10 million budget, now its $10,000,000 of CA spend so budgets can be significantly higher and still be considered an independent film and thus qualify for credits that are assignable, bankable and sellable. We are working on the Audits for Indpendent Feature films, Studio Web Digi Movies, features and several TV Series. It's working. People are staying here for the credits when they prpobably would have traveled. California does have a Film and TV tax credit that provides 20-25% tax credit on mainly BTL spend here in California. It’s a tax credit, so no checks will be written – tax credit certficates will be issued. Another $100,000,000 allocation will be available June 1 of this year. Here is the CA Film commission website. http://www.film.ca.gov/Incentives/ It is working and the modest credit when you don’t have to pay travel expenses many times beats other travel locations. Also there was a very important changes – recently, independant films where a company can sell the credit was $1-$10 million budget, now its $10,000,000 of CA spend so budgets can be significantly higher and still be considered an independent film and thus qualify for credits that are assignable, bankable and sellable. We are working on the Audits for Indpendent Feature films, Studio Web Digi Movies, features and several TV Series. It’s working. People are staying here for the credits when they prpobably would have traveled.

]]> By: steelejeff http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-185 steelejeff Mon, 29 Mar 2010 23:27:32 +0000 http://filmclosings.com/?p=370#comment-185 Forex is always an option for hedging currency risk (it's not just for physical production.) Unfortunately, it won't offset foreign buyers overall decreased buying power, which is already taking effect. Forex is always an option for hedging currency risk (it’s not just for physical production.) Unfortunately, it won’t offset foreign buyers overall decreased buying power, which is already taking effect.

]]> By: Sudhir http://filmclosings.com/2010/03/portugal-the-straw-that-breaks-the-back-of-independent-film-financing/comment-page-1/#comment-184 Sudhir Mon, 29 Mar 2010 22:12:13 +0000 http://filmclosings.com/?p=370#comment-184 Great article. Loss in sale due to currency fluctuation could be hedged by forex contracts. Additonal options: 1. sales in eastern markets in India and China 2. cost cutting by outsourcing some work (I see so many Indian media companies in advertising). 3. additional sales in Digital Media (using Red Box, Net Flix channels) 4. if you can beat eastern piracy market. Deliver same original movie at $1. What I know is that in late 90's bollywood movies switched the gears and started making movies tailored to Indian living abroad. It allowed local viewers foreign trip in $1. At same time allowed foreign viewers to connect back to their homeland. Allowed producers to multi $ market. Which they allowed to gain access to modern hollywood technology. Great article.
Loss in sale due to currency fluctuation could be hedged by forex contracts.

Additonal options:
1. sales in eastern markets in India and China
2. cost cutting by outsourcing some work (I see so many Indian media companies in advertising).
3. additional sales in Digital Media (using Red Box, Net Flix channels)
4. if you can beat eastern piracy market. Deliver same original movie at $1.

What I know is that in late 90′s bollywood movies switched the gears and started making movies tailored to Indian living abroad. It allowed local viewers foreign trip in $1. At same time allowed foreign viewers to connect back to their homeland. Allowed producers to multi $ market. Which they allowed to gain access to modern hollywood technology.

]]>