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May 31, 2024

€141m in Financing to Back European Film and TV Production

European Commission and the European Investment Fund (EIF) signs loan guarantee agreements with three funding organisations. By: K Dass.

Europe - The European Commission and the European Investment Fund (EIF) have recently signed loan guarantee agreements with organisations from France, Germany, and Finland. These agreements are expected to lead to €141 million in new financing for the film, TV, and creative sectors in Europe.

This intermediary will help independent European producers obtain additional financing for their audiovisual projects. The EU support is expected to leverage a portfolio of around €45 million in financing, allowing Germany’s Beta Film to complement traditional lenders and provide tailor-made financing solutions to the European audiovisual sector.

France’s Institute pour le Financement du Cinéma et des Industries Culturelles (IFCIC): IFCIC will have access to an EIF guarantee line to target the cultural and creative sectors, particularly audiovisual productions. This is expected to leverage around €85 million of financing. The guarantee aims to support businesses in the audio-visual sector where banks may lack expertise in assessing expected cashflows and production success.

Finnish Impact Film Fund (FIFF) managed by Aurora Studios, has signed a guarantee line for artistically and commercially ambitious films and TV series. It is expected to issue around €11 million in financing.

These loan guarantee agreements specifically benefit smaller companies operating in the creative industries, which often face challenges accessing finance from traditional banks and financial institutions. The EIF’s initiative aims to support European audiovisual production and keep it at the forefront of the world stage.

This move reflects the growing importance of production incentives and financing support for European films. While direct public funding remains significant, production incentives are playing an increasingly crucial role in sustaining the creative sector.

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