In the hope of re-vitalising the Spanish film biz, the Spanish government is setting-up plans for a $125m (€90m) film fund which it hopes to launch in October. Box office for local fare has been poor over the past few years and piracy has taken a huge toll on the theatrical market, through illegal downloading. Last year there were 350 million downloads in Spain, with the very first prosecution of a P2P administrator being in April this year.
The new plans will give the producers of 12 films a year, 50% of their budget up to $2.7m (€2m), which can go towards any stage of the production from development to exhibition. The funds will also be available to co-productions, in which case they would go to the Spanish producer.
It is hoped the scheme will bring a resurgence of film production to the country and quell criticism that the government has previously backed films that failed to attract audiences to the screens.
Now where have I heard that before…..?
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