Trends in public film support - Gilles Fontaine
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Trends in public film support : film funding, tax incentives Perspectives on impact
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Trends in public film support - Gilles Fontaine
- 1. Current trends in public film support and perspectives on impact Gilles Fontaine Head of Information on Markets & Financing European Audiovisual Observatory Montenegro Presidency Workshop, Podgorica, 11 June 2015
- 4. Direct public funding is only one form of public film support Different possibilities for national film policy makers to support the financing of film and audiovisual production Fiscal Incentive Schemes 1 Direct Public Support through Film Funds 2 Regulating investments in production by broadcasters and other stakeholders 3 4
- 5. 2009: 262 funds 2014: 254 funds 2004 2009 2014 Evolution of the number of film funds in Europe (36), 2004-2014 Source: OBS KORDA 195 262 254 The total number of funds declined slightly 5
- 6. The number of fiscal incentive schemes more than doubled in 10 years… Source: SPI New schemes introduced Schemes closed Total active schemes 1 1 1 5 3 1 1 2 5 1 1 1 2 1 12 12 12 12 17 20 21 20 22 26 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Timeline: Fiscal incentive schemes becoming operational in Europe 2005-2014 6
- 7. UK Italy …But direct public funding remained fairly stable France Germany 7
- 8. The launch of new fiscal incentives in France did not represented a reduction of the allocation for the existing ones 0 20 40 60 80 100 120 140 160 180 200 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 CIJV (2008) C2I/ TRIP (2009) CIA (2006) CIC (2005) SOFICA (1985) French fiscal incentives, 2004-2014 EURmillion Source: CNC 8
- 9. Impacts 9
- 10. Limitations of impact measurement Causality between different film policy measures and effects Example: Production investment is increasing, but to which extent can this be linked to direct public funding and to which extent is it linked to additional fiscal incentive schemes? Lack of data Many countries do systematically collect the data which would be required to properly analyse impact of public support measures Limited comparability between European markets … due to different methodologies impossible to have a comprehensive “pan- European” analysis. … but also between indicators: no “global” indicator … as impacts take many different forms. And the methodology how to measure impact differs accordingly from one indicator to the next. 10
- 11. Indirect & induced economic impacts Exploitation related economic impacts Cultural & societal impacts Direct production related economic impacts Potential impacts of public film support Many impacts areas 11
- 12. Direct production related economic impacts … Growing film production volume Sector employment growth Growing film production spend Stimulate international cooperation Develop film & AV sector GDP / GVA contribution Attract portable productions Impacts of public film support 12
- 13. The increase of public support can play an important role in increasing production volume and budgets… …provided that infrastructure, talent and crews match this increase (otherwise it will only result in an increase of production costs) 13
- 14. Case Study Importance of public support as financing source for European films Share of public support in total production costs Sources: NFF, SFI, CNC, FIAPF, IVF, IFTA, OBS In %. 48% 48% 14% 33% 40% 28% 17% 11% 37% 35% 42% 49% NL SE FR Amour A Royal Affair Carnage Producer / Private investments In selected markets (2013) In selected films Public support (national and international Other Broadcaster (co-prod & pre-sales) 14
- 15. Case Study Impact on production volume Turkey – Number of films produced 2000-2014 Sources: Antrakt, OBS In units. 0 20 40 60 80 100 120 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Re-establishment of public production support 108 20 15
- 16. 0 2 4 6 8 10 12 14 16 2009 2010 2011 2012 2013 Case Study Impact on production spend Croatia – Production spend 2009-2013 Sources: Croatian Audiovisual Centre, Olsberg SPI In EUR mio (2013 prices). Introduction of fiscal incentive scheme 20 Production spend Direct public funding 16
- 17. Public funding has the potential to stimulate international co-productions … and is a decisive factor in attracting portable productions, … but this is hard to quantify 17
- 18. Key findings from Olsberg study on fiscal incentive schemes suggest that … Sources: Olsberg SPI … Public support - particularly fiscal incentives - can have a positive impact on the ability of countries to become attractive co-production partners. This tends to be the main reason for productions moving between European countries. … In addition, international portable productions generally flow into Europe rather than out of Europe, attracted by fiscal incentive schemes and direct public support schemes … Keep in mind: Public support (direct or through fiscal incentives) is only one of many factors affecting the production location decision Qualitative research shows … 18
- 19. Public support is considered to stimulate employment growth in the film and audiovisual sector … but, again, this is hard to quantify 19
- 20. 52 43 44 46 51 56 59 61 58 63 65 63 3 3 3 3 4 4 4 4 4 4 5 5 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Case Study Impact on employment France – Employment in French film production 2001-2012 Sources: EY/CNC, Olsberg SPI In 1 000s. Freelance Permanent Direct public support + SOFICA Direct public support + SOFICA + Crédit d’Impôt Direct public support + SOFICA + Crédit d’Impôt +TRIP 48 50048 500 68 000 +38% 20
- 21. Key findings from Olsberg study on fiscal incentive schemes suggest that Sources: Olsberg SPI … Alongside production levels and impacts, incentives also stimulate significant employment growth … There is also evidence that these workforces are mobile, moving between adjacent countries to fill needs … This contributes to regional development of the sectors, an increase in co-production activity and especially contributing to skills development … and qualitative research shows … 21
- 22. Growth in film and AV production drives growth in wider areas of the economy … 22
- 23. Exploitation related economic impacts DVD / BluRay sector Cinema exhibition Distribution Impacts of public film support VOD TV 23
- 24. Multiplier & spillover effects Induced impact Indirect impact Impacts of public film support Film induced Tourism Trade promotion Growth driver for other creative sectors 24
- 25. Film Tourism 25
- 26. Case Study Impact on film tourism Examples for film tourism impact in destinations Sources: Turizam Volume 17, Issue 1: Film Tourism: A Contemporary Resource for Promoting Serbia 26
- 27. Case Study Impact on film tourism Croatia – Tourism arrivals 2005-2014 Sources: Bloomberg Markets In millions. Game of Thrones starts in April 2011 27
- 28. Merchandise 28
- 29. Case Study Impact on merchandise sale UK – Economic impact of film induced merchandise sales in UK 2013 Sources: Olsberg / Nordicity analysis based on data from Oxford Economics 29
- 31. Case Study Impact on brand promotion UK – Economic impact of film induced UK brand promotion 2013 Sources: Olsberg / Nordicity analysis based on data from Oxford Economics, BFI, Rentrak, MPAA, HIS and ONS 31
- 32. Cultural & social impacts … Cultural diversity National / European identity Awards Impacts of public film support Heritage awareness 32 Public diplomacy (Soft power)
- 33. Public funding for award winning films Source: OBS DK / SE / CZ 40% FR / DE / PL / ES PL / DK FR / DE / AT 28% na 33% 33
- 35. Goals Impacts Impact evaluation Up front methodology The need for goals hierarchy and impact assessment «Soft Power» Heritage Awareness Economic Growth Consumer Interest Employment Direct Exploitation Cultural Indirect & induced 1 35
- 36. 0 100 200 300 400 500 600 700 800 900 1 000 2012 2013 2014 2015 2016 20.0 21.0 22.0 23.0 24.0 25.0 26.0 27.0 28.0 29.0 30.0 2012 2013 2014 2015 2016 5000 5200 5400 5600 5800 6000 6200 6400 6600 6800 100.0 300.0 500.0 700.0 900.0 1 100.0 1 300.0 1 500.0 2012 2013 2014 2015 2016 Theatrical will stagnate GBO @ EUR 6.3 bn Admissions @ 910 mio Traditional TV revenues to decrease over time EUR 27.7 bn TV advertising Physical video will continue to drop EUR 6.6 bn Digital video will grow but not compensate EUR 27.7 bn TV advertising 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 2012 2013 2014 2015 2016 EUR 1.9 bn Overall revenues to film industry likely to decline…2 36
- 37. 2. …Public support could become proportionally even more important France – Public contribution to total production investment 2010-2014 Sources: CNC, OBS In EUR million. 15% 11% 14% 14% 18% 1 439 1 389 1 342 1 255 994 209 160 183 173 176 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 200 400 600 800 000 200 400 600 2010 2011 2012 2013 2014 est. % share Total investment in French film production Direct public funding + Fiscal Incentives 37
- 38. Public Funding for Films and Audiovisual Works in Europe An update of the OBS report on film funding in Europe will be released in 2016 38 It will include European as well as country-by-country figures on: • Funding body population • Income by type of source • Spend by activity • Trends in recent years
Hinweis der Redaktion
- Growing recognition of cultural and economic importance of film and audiovisual sectors Many countries are aiming to grow their Creative Industries because of the broad-based advantages they deliver, for example in terms of - employment, heritage awareness, consumer interest, economic growth, exports, Tourism, and so-called national ‘soft power.’ Given these potential positive aspects, most countries actively support the development of the film and audiovisual sectors through film policy measures.
- Though possibly the most visible one, direct public film funding is only one - albeit a very important - form of public support for the production of film and audiovisual works in Europe Broadly speaking, national film policy makers generally opt for a mix of one of three different forms … … Now, let’s have a look at some trends in the field of public film support … NEXT SLIDE
- … shift towards national funds, less regional / community funds Several dormant regional funds (with much fewer schemes and budget now than before 2009) Restructuration of the UK regional funds Several new regional funds in Poland
- The number of fiscal …. Countries introducing fiscal incentive schemes in recent years include e.g. Lithuania, the Former Yugoslav Republic of Macedonia, the Netherlands, and Slovakia. Others such as Finland, Norway, Poland and Serbia are giving the matter serious consideration. (TO BE CHECKED WHETHER THEY INTRODUCED SOME IN THE MEANTIME) Another trend worthwhile noting, is the fact that – the majority of the newly introduced schemes – take the form of rebate-style structures rather than the more traditional form of tax shelter: Of the seven rebates introduced in Europe between 2010 and 2014, six were structured as rebates, with only one taking the form of a tax shelter. Now, with a growing number of fiscal incentive schemes, some industry players fear that this trend leads to a … NEXT SLIDE BACKUP INFO as to why there is a trend towards rebate structures: Olsberg: “We believe that this is predominantly a result of policymakers increasingly recognising the self-funding nature of rebate-style fiscal incentive schemes and wishing to have systems that are as transparent and straightforward to operate as possible.”
- So, it seems that – at least on a pan-European level – public funding levels have remained fairly stable over the past years and the fiscal incentive schemes are being used as complementary instruments to support the film and audiovisual sectors.
- Needs explanation
- Many countries are aiming to grow their Creative Industries because of the broad-based advantages they deliver, for example in terms of - employment, heritage awareness, consumer interest, economic growth, exports, Tourism, and so-called national ‘soft power.’ Given these potential positive aspects, most countries actively support the development of the film and audiovisual sectors through film policy measures. And there are different ways how to do this NEXT SLIDE TO DO: THIS SLIDE COULD ALSO BE USED FOR SHOWING IN AN OVERVIEW THE POTENTIAL IMPACTS OF PUBLIC SUPPORT LATER ON - NEEDS TO BE UPDATED ACCORDINGLY
- Percentage share of public support in total production costs varies from one film to the next and between markets – in particularly whether or not it is complemented by mandatory broadcaster investments (like in France) – but it clearly forms a crucial backbone of the European film financing system. It is probably fair to assume that without public support, the current high levels of European production volume could not be achieved.
- FIS report p63
- Inner-European production flows tend to be linked to increasing levels of co-production Consultees have also noted the positive impacts that the introduction of an incentive can have on the ability of countries to be attractive co-production partners. Central to this is the guaranteed element of finance that the incentive provides, making the structuring of a co-production significantly easier when compared with the uncertainties of a selective direct funding system. This factor has enabled smaller countries to become more active co-production partners.
- Self-evident. No need to present data.
- Self-evident. No need to present data.
- http://www.dgt.pmf.uns.ac.rs/turizam/arhiva/vol_1701_2.pdf
- http://www.bloomberg.com/news/articles/2015-04-02/can-game-of-thrones-save-croatia- Dubrovnik is shooting location for Kings Landing, one of the main locations in the Game of Thrones saga
- http://www.bfi.org.uk/sites/bfi.org.uk/files/downloads/economic-contribution-of-the-uks-film-high-end-tv-video-game-and-animation-programming-sectors-report-2015-02-23.pdf
- http://www.bfi.org.uk/sites/bfi.org.uk/files/downloads/economic-contribution-of-the-uks-film-high-end-tv-video-game-and-animation-programming-sectors-report-2015-02-23.pdf
- Summary: Long term lower revenues will be less … Theatrical window to become proportionally more important for larger films, while smaller films stand to benefit more from online? Key will be cost and smart financing And more players to share changes in value chain