by David Zannoni.
As a producer, one of the biggest challenges of a film project is to complete financing. It starts with looking for financing to develop a project, then the actual production of the film, and finally, international marketing and distribution.
The search for financing can consist of assessing lending options, looking for potential equity investors, studying and applying for government incentive programs, and film festival circuits. On the other hand, there might be ways to bring down development and production costs by deferring budget payments and looking for alternative (and cheaper) production and filming locations.
The co-production between two or more countries can cover several of the options mentioned above, and therefore, be decisive in completing the financing of your film.
Below are four considerations in favor of a co-production to finance your project.
Co-Production to access Support and Incentive Programs
By turning the project into a co-production, the project may tap into several support and incentive programs, instead of just the ones available in your own country. Many countries have national support and incentive programs for feature films. The film will have to qualify as national in each of the co-production countries. To be acknowledged as a national project, the film will have to meet certain requirements on amongst others a creative level, local expenditure, and/or nationality of talent and crew contracted. Such requirements are different in each country and change constantly. Support and incentives may consist of loans or investments from local film institutes, tax-related advantages, or grants.