What is the future for film funding? Cannes Next speakers gave their opinion

-CANNES 2022: The Marché du film event features new financing models such as blockchain-based Decentralized Pictures and XYZ Films’ “transatlantic model”

This article is in English.

On May 20, Cannes Next hosted a 90-minute panel titled “Future of Financing Summit: New trends in Equity, Venture Capital, tokenized film investment, NFT’s and beyond” and managed by AC Coppens.

Coppens introduced the speakers, who were Logical Pictures Group and Cascade 8’s Yannick BosenmeyerXYZ Films’ Maxime CotrayDecentralized Images’ Leo Matchett and Michael Musanteof Zoan Laura Olin and NFT Studios’ Hewie Rattray.

(Article continues below – Commercial information)

Musante and Matchett spoke through the activities of Decentralized Pictures (launched last year’s edition of the Marché du Film) and its mission to support independent filmmakers. The core idea is to use the blockchain “to find talent from all communities through the use of a fair, democratic and transparent protocol” with a financing component dedicated to the voices that are not sufficient “representation and magnification” along with “a reward system. to encourage participation in the curation process”.

Cottray compared the two production models. The first is “Anglo-American” which is “where you go to Cannes, you pre-sell, you bank these presales and then you shoot your film with some tax credits,” which, he reasoned, harder and harder to implement. The second is the European model, which is supported by a large funding system. However, it is aimed at supporting more mainstream titles, leaving little room for genre films, which are “travel best” as they tell “global stories”.

So European producers have been forced to end financing by “begging and praying” with private investors or making a deal with a multinational streamer: “You’ve become a glorious gunshot, you’ve become a you are a producer of the service but you do not have an owner. ” Cottray proposed a new “transatlantic model,” where one can choose the best of the two worlds. In this, productions can still be rooted in Europe, physically made in Europe with a lot of talent behind the European camera – so that they can receive European funds – but there is a lot of work done by an American partner to be navigate the agency system to bring in an actor who can bring global recognition to the flick as well as a good distribution and sales partner.

He then described how such a model was applied to a joint fund managed by XYZ Films and IPR.VC: “We get films from filmmakers we like; we wrap them up by mixing European and American cast, we shot and posted it in Europe but we used the ‘American sales model.’ An example we made is Riley Stearnsdoublefully shot in Finland, placed anywhere and not location specific, where we took Aron Paul and Karen Gillian in the cast. ” Production also benefits from Finland’s national and regional tax credits.

Later, Rattray spoke about NFT Studios, which is set to be “the first Web3 production company,” whose primary mission is to “change the existing paradigm in which media is created using web3 technologies. . ” NFT Studios promises to usher in a new era of community-driven creative freedom by modernizing financial processes, giving creators a highly composable platform (where they can share equally). of employment and rights) and utilize the collective energy of a native Web3 community for content creation and management.

Next, Olin spoke about Cornerstone, a photo-realistic metaverse project previously introduced by Mikka Rosendahl in the Market. He highlighted how this new virtual environment can provide promotion and funding opportunities through carefully planned NFT drops and exchanges, metaverse releases and fan meetings.

Finally, Bossenmeyer focused on the activities of Logical Pictures, Logical Content Ventures and Cascade8. The first focuses on equity financing against international rights, preferably on projects shot in English and with international outreach, “budget efficient” and with “optimized subsidies”. The initiative supports 20 components, including HAPPINESS [+lire aussi :
critique
bande-annonce
interview : Ninja Thyberg
fiche film
]
, The Deep House [+lire aussi :
critique
bande-annonce
fiche film
]
and vengeance [+lire aussi :
critique
bande-annonce
interview : Coralie Fargeat
fiche film
]
. The second is a fund launched last year that aims to spend $ 50 million on new content. To date, $ 10 million has been raised through private investors and family offices. Some of the projects supported by Logical Content Ventures include Tchaikovsky’s Wife [+lire aussi :
critique
bande-annonce
fiche film
]
, The Dive [+lire aussi :
bande-annonce
fiche film
]
and Burning Neons (read the news). The fund is characterized by tokenized assets, with the investment secured by two wage components-an annual yield with a return rate between 4-6% and a capital gain with a library of approximately 150 titles over the next eight years. Finally, Cascade8 aims to develop blockchain and software solutions for entertainment industry professionals. In particular, Bossenmeyer spoke about the division’s long-term roadmap and its work Blood Machinesemphasis NFT buyers can gain ownership of virtual collectibles, based on movie characters, spaceships and weapons.

(Article continues below – Commercial information)

Leave a Comment