All articles tagged with #film financing
Woody Allen plans to shoot his next film in Madrid after securing €1.5 million in regional funding, with the project titled 'Wasp 2026,' marking his continued collaboration with Spain despite previous attempts in Italy and Barcelona. The funding is part of Madrid's promotional campaign, contingent on the film's international success and festival premieres.
Jim Jarmusch expressed disappointment over Mubi's relationship with Sequoia Capital, criticizing the involvement of corporate money in filmmaking and highlighting the ethical concerns surrounding Sequoia's investments in Israeli military tech. Despite his concerns, Jarmusch emphasized the complex nature of film financing and called for broader accountability beyond individual filmmakers.
The American Film Market (AFM), a key event for the indie film industry, has relocated to Las Vegas amid challenges like the pandemic, Hollywood strikes, and high participation costs. The move aims to reaffirm its significance, but competition from events like the Toronto Film Festival, which plans to launch its own market in 2026, looms. The AFM faces issues such as rising production costs and a shift towards international locations for filming due to better incentives. Despite these challenges, the indie film sector shows resilience, with successful theatrical releases and a growing international focus.
Kansas City Chiefs tight end Travis Kelce is using President Biden's renewable energy tax credits to finance the indie film "My Dead Friend Zoe," marking his first foray into movies as an executive producer. The film, which cost less than $10 million, is the first to take advantage of the 2022 Inflation Reduction Act for financing. Kelce, along with other investors, is also using the same strategy to finance a Jean-Michel Basquiat documentary. The film, directed by Kyle Hausmann-Stokes, will premiere at SXSW on March 9 and is being sold by CAA.
Jennifer Lopez financed her new Prime Video original film, "This Is Me ... Now: A Love Story," after the initial financing fell through, opting to self-fund the project. The 65-minute musical, which coincides with her first studio album in a decade, features a star-studded cast and showcases Lopez's vision of a surrealistic, magical odyssey with a mix of singing, dancing, and humor. Despite the challenges, Lopez and her producing partner brought the project to life, emphasizing the importance of following one's heart in creative endeavors.
The Italian producer of Roman Polanski's latest film, The Palace, criticized U.S. streamers such as Paramount+, Amazon, and Netflix for not investing in the controversial director's new movie. Despite Polanski's back catalog being available on these platforms, they have not shown interest in producing his latest work. The Palace, set at a luxury hotel in Switzerland, has faced difficulties in financing, with French distributors passing on the film. Polanski, a fugitive from U.S. justice, did not attend the Venice festival where the film was discussed. The backlash against Polanski's past actions has made distributors wary of acquiring his films, resulting in no distribution in place for the U.S. or the U.K.
Amblin Partners, headed by Steven Spielberg, has laid off around 20 percent of its workforce as part of a resizing effort following a new multiyear deal with Universal. The deal will see Universal co-finance Amblin's movies, a departure from the previous arrangement where Amblin secured its own financing. Spielberg expressed gratitude to Amblin's team and Universal for their commitment, while Universal's chairman highlighted the excitement of evolving their partnership and creative legacy. Amblin has upcoming projects in the works, including an adaptation of the novel Hamnet and a deal with Netflix.
Steven Spielberg's production company, Amblin Partners, has entered into a new multiyear deal with Universal, in which Universal will co-finance Amblin movies. This agreement gives Amblin more flexibility in challenging economic times while allowing Spielberg to retain creative control. Previously, Amblin would secure financing for its films and then have Universal distribute them for a fee. The deal does not affect Amblin's separate television deal with Netflix. Job cuts are expected at Amblin as a result of the new agreement.