Magazine article Screen International

Russia to Invest $60M in Domestic Film Companies

Magazine article Screen International

Russia to Invest $60M in Domestic Film Companies

Article excerpt

The Russian State Film Fund, the investment fund that was established to support the industry, has officially announced the names of the domestic film companies that will receive financial support from the state this year.

The volume of state support this year will amount to 2.8 billion rubles (US$60 million), which is 200 million rubles less than 2015. The majority of funds will be used by the studios for the production of their films.

Anton Malyshev, managing director of the Fund, said that recipients include leading local film outfits Art Pictures (operated by Fyodor Bondarchuk [pictured] and Dmitry Rudovsky), Directorate of Film, STV, Non-stop production, Three T and Central Partnership.

Unlike in previous years when the funds were given to producers on the condition that it would need to be returned should the films not succeed at the box office, this year the funds will be provided to the companies without such strings attached.

At present the companies that receive funding from the State Fund are determined in accordance with special rating system whereby studious receive points for attendance of their films, their ratings on TV, prizes at film festivals and other factors over a period of five years. …

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