Magazine article Screen International

CinemaCon: FIP Chief Hails Local Production Hits

Magazine article Screen International

CinemaCon: FIP Chief Hails Local Production Hits

Article excerpt

Seven months after the former co-president of worldwide theatrical marketing and distribution filled the role vacated by Sanford Panitch, Jegeus spoke confidently about global production hubs and the complementary interplay between local and Hollywood releases.

"Local-language films are not confined to local borders," said Jegeus during his seminar at Caesars Palace. "It doesn't happen often but there's great potential for these films to break out."

One shining example was French smash The Intouchables, which grossed more than $400m worldwide and took 51% of that revenue outside France. The 2012 comedy remains the highest grossing French film outside its home country.

Jegeus noted that recent Fox Star release P.K. took 32% of its global haul outside India, where it grossed around $76m.

South Korean smash The Admiral was also cited as big success beyond its borders, as was Pablo Trapero's Argentinian kidnap drama The Clan, Fox's biggest release in the territory last year.

The executive identified Spain and Russia as core local-language markets for the company and said FIP was developing several properties. Success with Dragon Ball 1 and 2 also indicated that Japanese anime promised riches if handled correctly.

Jegeus highlighted the massive $526m success of Chinese hit The Mermaid, which would rank as the sixth biggest domestic release in history had it achieved that number in North America.

On that point, the FIP chief bucked a trend when he said China could overtake North America to become the biggest box office market as early as this year. …

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