TV, Film & Media Industry International News Roundup, Weekend August 31 - September 1 2024
Creative UK fund launches; Italy revises tax credit; Student Academy Awards in London; Bell Media vs. WBD; AFI loss; Princess Pictures; ACCS challenges; Japan animation revenue; Kidman's thriller.
Today’s Highlights:
Creative UK launches the North East Shared Success Fund, a new initiative to support creative businesses in Northumberland, Newcastle, and North Tyneside with interest-free, repayable finance and tailored support.
Italy revises the international tax credit. It maintains a 40% rate but bans AI-related costs (except special effects) from eligibility, affecting international productions.
Student Academy Awards to be presented in London—For the first time, the event will move from Beverly Hills to London, reflecting the Academy's global outreach.
Bell Media's legal challenge against Warner Bros. Discovery - Intensified dispute over content distribution rights in Canada, highlighting market competition issues.
Australian Film Institute reports financial loss for 2022-23. This reflects ongoing challenges in the Australian film industry post-COVID-19.
Princess Pictures spotlight - A Melbourne-based production company known for global animation hits like Koala Man and Smiling Friends, with several post-production projects.
ACCS 2024: Kids producers express concerns - Australian children's television producers face challenges due to the lack of local quotas and financial strain on the industry.
Japanese animation studios had record revenue—$2.34 billion in 2023—with major contributions from successful films like Suzume and The Boy And The Heron.
Halina Reijn's Nicole Kidman Thriller 'Babygirl' - A new film addressing Hollywood's "orgasm gap," premiering at the Venice Film Festival, starring Nicole Kidman.
Paramount+ explores strategic options, including merging or licensing, to strengthen the platform's content investments and global reach, potentially reshaping the streaming landscape.
Plus: News, Insights, Festivals, Executive Moves, In Development, Deals, Cancellations, Events and Jobs with Paramount, Warners, BAFTA, ITV, BBC, Sky, Prime, Sony, Netflix & TV2.
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NEWS
Creative UK launches fund to help turbo-charge England's North East businesses
Creative UK has launched the North East Shared Success Fund, a new initiative to support small- and medium-sized creative businesses in Northumberland, Newcastle, and North Tyneside. Funded by the North East Combined Authority, the program offers up to £25,000 (US$33,000) in interest-free, repayable finance to help "turbo-charge" business ideas and outputs. Recipients will repay the funds only once their projects succeed or reach a certain turnover. The fund also provides tailored support, including workshops and mentoring, to assist in the application process. Read More
Italy revises international tax credit, maintaining headline 40% rate and banning relief for AI spend
Italy has revised its tax credit for international productions, maintaining a 40% relief for production spend in Italy of at least €250,000. The rate decreases to 30% for certain above-the-line costs tied to non-European entities. A key update involves AI: costs related to AI, except for special effects, are ineligible for the tax credit. Productions must disclose any use of AI in work conducted in Italy. Read More
Student Academy Awards to be presented in London
The Academy announced that the Student Academy Awards will be presented in London this year, shifting from their traditional Beverly Hills location. The event will take place at Odeon Luxe Leicester Square on October 14, with winners of the 51st competition announced in September. This move is part of Academy CEO Bill Kramer's international outreach, highlighting the organisation's growing global membership and the increasing recognition of non-English-language films in awards season. Read More
Bell Media steps up legal challenge against WBD over licensing deal with Rogers
Bell Media is intensifying its legal battle against Warner Bros. Discovery (WBD) regarding a licensing deal with Rogers Communications. The dispute centres on the terms of content distribution rights in Canada, with Bell Media arguing that the deal unfairly disadvantages its position in the market. Read More
AFI reveals financial loss for 2022-23
The Australian Film Institute (AFI) has reported a financial loss for the 2022-23 fiscal year. The loss highlights the ongoing challenges faced by the organisation, including the impacts of the COVID-19 pandemic on the film industry. Despite these setbacks, the AFI remains committed to supporting Australian cinema and is exploring new strategies to overcome financial difficulties and continue its mission. Read More
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INSIGHTS
Dead Reckoning
Dead & Buried, a four-part psychological drama written by Colin Bateman, follows a woman confronting her brother's murderer. Ben McGrath, head of drama at Three Rivers Fiction, describes the complex process of bringing the series to life, which involved a collaborative effort across Ireland—securing a "letter of intent" from Virgin Media Television unlocked development funding from Northern Ireland Screen, leading to partnerships with BBC Northern Ireland, Screen Ireland, Coimisiún na Meán, and All3Media International. Despite the challenges of coordinating multiple partners, production went smoothly. Read More
What can indies do to survive and thrive in late 2024 and beyond?
As the media landscape evolves, independent production companies face increasing challenges. This article discusses strategies indies can adopt to survive and thrive in the competitive environment of late 2024 and beyond. Key recommendations include diversifying revenue streams, embracing new technologies, and forging strategic partnerships to remain agile and relevant in a rapidly changing industry. Read More
Spotlight on Princess Pictures
Princess Pictures is a Melbourne-based production company founded in October 2003. The company, led by independent partners Laura Waters and Emma Fitzsimons, specialises in diverse genres across live-action and animation. Notable productions include global animation series like Koala Man (Disney+ Hulu/Star) and Smiling Friends (Max). They’re currently in post-production on Son Of A Donkey for Netflix and the film Together starring Alison Brie and Dave Franco, among others. Read More
ACCS 2024: Kids producers express concerns over lack of local quotas
Australian children's television producers face significant challenges due to the absence of sub-quotas on Free-to-air networks, delayed streaming quotas, and a downturn in commissions linked to the advertising market. At the Australian Children’s Content Summit, industry leaders like Suzanne Ryan from SLR Productions voiced frustrations over unmet promises and the financial strain on businesses. Ryan emphasised increased funding and support for the ABC, ACTF, and Screen Australia to sustain the industry. Dirt Girl World creator Cate McQuillen also highlighted the industry's plight, calling for broader support to protect children's content in Australia. Read More
Live-action kids content with global appeal is not a lost art
Despite the dominance of animation in children's programming, live-action kids content remains a viable and impactful genre. Live-action shows continue to engage young audiences globally by offering relatable narratives and diverse characters and can still captivate and inspire the next generation with the right creative approach. Read More
Japanese animation studios take record $23.4bn as sector booms
Japanese animation studios achieved a record-breaking $2.34 billion (¥339 billion) in revenue in 2023, marking a 30% year-on-year increase, according to a Teikoku Databank report. Theatrical anime played a significant role, with Makoto Shinkai’s Suzume earning $133.4 million globally and becoming Japan’s 11th biggest local box office hit. Hayao Miyazaki’s The Boy And The Heron grossed $173.5 million worldwide and won the Oscar for Best Animated Feature. Revenue levels are expected to remain stable in 2024. Read More
Halina Reijn on Bridging Hollywood’s “Orgasm Gap” With Nicole Kidman's Thriller ‘Babygirl’
Halina Reijn is on a mission to address Hollywood's "orgasm gap" with her new film Babygirl, which premieres at the Venice Film Festival. The Dutch director, known for Bodies Bodies Bodies and Instinct, promises more realistic portrayals of female pleasure. Babygirl stars Nicole Kidman as a CEO who engages in a forbidden romance with a younger intern, played by Harris Dickinson, while married to Jakob, portrayed by Antonio Banderas. A24 will release the film on December 20. Read More
Back from the Brink: Reimagining the Future of TV
In the early 2020s, the UK television industry thrived, with annual revenues of over £6 billion and employing over 90,000 people. However, by 2023, it faced a "perfect storm" of challenges: declining broadcast audiences, reduced ad revenue, and a production crisis, all exacerbated by global economic issues and shifts in viewing habits. This debate examines the seismic shifts reshaping the industry, including video consumption changes and content globalisation Read More
Merge, Bundle Or License? Paramount+ Explores Strategic Options As Skydance Waits In The Wings
Some industry experts and analysts, including MoffettNathanson's Robert Fishman, see Paramount+ as a strong candidate for a fully merged, jointly operated service akin to a reimagined, pre-Disney Hulu. Fishman argues that Paramount+ could benefit from partnering rather than continuing solo, as its balance sheet may not support the necessary content investments for a global scale. The idea of a single app merging services, eliminating the need to switch between platforms, is a potential game-changer. However, it's acknowledged as a complex endeavour, as former Paramount executive Marc DeBevoise noted. Read More
Lee Daniels’ Mom Was Afraid of Him Directing an Exorcism Movie, So He Hired an On-Set Spiritualist to Keep the Cast and Crew Safe: ‘We Prayed Every Day’
Lee Daniels, known for dramas like "Precious" and "The Butler," surprises fans with his latest film, "The Deliverance," a horror movie rooted in a family story based on actual events. The film follows Ebony (Andra Day), a single mother caring for her three children and sick mother in a seemingly haunted house. As supernatural forces torment the family, Ebony also contends with a concerned social worker (Mo'Nique). The "Demon House" case from Gary, Indiana, inspired the film. Read More
How 'Hot Ones' gets made: Sean Evans shares behind-the-scenes insights
In a revealing interview, Sean Evans, the host of Hot Ones, shares the behind-the-scenes process of creating the hit YouTube series where celebrities answer tough questions while eating progressively spicier chicken wings. Evans discusses the show's origins, the challenges of booking guests, the meticulous preparation of each episode, and how it has become a cultural phenomenon. Read More
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