Magazine article Screen International

Germany's Commerzbank Boosts Financing to $340M

Magazine article Screen International

Germany's Commerzbank Boosts Financing to $340M

Article excerpt

Germany's Commerzbank is prepared to serve as a financier of more international co-productions going forward as it increased its annual financing volume for film and TV production to $340m ([euro]300m) in 2014.

Originally, Commerzbank had forecast at the beginning of 2013 that it was aiming to increase its commitment to the financing of film and TV production from 2012's $170m to $340m ([euro]150m to [euro]300m) and double its market share in this segment to 30% by the end of 2016.

However, Germany's second largest bank announced this week that it had already reached these targets by the end of 2014.

The number of productions financed by Commerzbank tripled from 2012's total of 35 to 105 projects last year.

The 35 feature films handled by the Commerzbank included four-time Oscar winner The Grand Budapest Hotel, animation feature film Der kleine Drache Kokosnuss, and comedy Vaterfreuden.

The 70 commissioned TV productions on the bank's books ranged from 24h Jerusalem to the $9m ([euro]8m) TV disaster movie Heroes (Helden), directed by Hansjörg Thurn and starring Christiane Paul, Heiner Lauterbach and Armin Rohde. Co-produced by Dreamtool Entertainment with Austria's epo-Film, Heroes is being handled internationally by Global Screen.

Commenting on the increase in the number of film projects financed in the last two years, Jochen H. Ihler, divisional board member sales central region and head of CoC public sector, observed that "the international film market, in particular, offers a considerable growth potential for German producers. Therefore, we have decided to also be increasingly available as a financier for international co-productions."Data dilemma

The lack of comparable and compatible data between European markets hampered the impact analysis undertaken by Olsberg SPI for the European Audiovisual Observatory (EAO) on the effects of fiscal incentive schemes on the production of film and audiovisual works in Europe.

Authors Jonathan Olsberg and Andrew Barnes observed in their report that "one of the major challenges within this project has been the lack of comparable, extensive data for markets, and the incompatibility of datasets when they have been available. …

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