The pandemic has made it harder for both Asia and Europe to finance movies, which may lead to closer collaboration between the two regions despite differences in funding systems, according to a group of leading producers on a two-session Filmart panel.
In the first session, European fund heads from France’s CNC, the Austrian Film Institute, and Berlin Brandenburg Berlin Film Commission discussed Europe’s complex subsidy funding network, while Gary Mak, Secretary General of the Hong Kong Film Development Council (HKFDC), introduced Hong Kong’s new co-production funding scheme.
The new ‘Hong Kong-Europe-Asian Film Collaboration Funding Scheme’ offers grants up to $1.15M (HK$9M) for feature film projects involving Hong Kong, Asian, and/or European talent. The projects do not have to be shot in Hong Kong or in the city’s official languages but must employ a certain percentage of Hong Kong crew.
Cristiano Bortone, managing director of Bridging The Dragon, highlighted the increased discussions on co-productions between Europe and Asia due to challenges in film financing during and post-pandemic.
Korean producer Jonathan Kim emphasized the need for Korea to explore co-production as the local industry faces struggles amidst changing audience preferences post-Covid.
Asako Nishikawa of Japan’s Bandai Namco Filmworks Inc expressed the need for Japanese producers to consider co-production as the local market for arthouse films diminishes.
Beaver Ming Kwei of CMC Pictures discussed the challenges of finding suitable European partners for co-productions, especially in smaller countries.
Singaporean producer Jeremy Chua highlighted the inherent costs of the co-production model, leading to the necessity of involving multiple partners to close financing.
Christianne Krone-Raab of Berlin Brandenburg Berlin Film Commission raised concerns about the requirement in the Hong Kong-Europe-Asian scheme that six out of ten heads of department must be from Hong Kong.
