The new aid for film production

As anticipated in a previous article, late last year the Order of the Ministry of Education, Culture and Sports, ECD / 2796/2015 of 18 December, which establishes the rules for the planned aid laid down in was published chapter III of Law 55/2007 of 28 December, of the Cinema.

Although the institution of advance payments – 20 percent to the granting of aid, 50 percent at the start of filming and 30 percent to the recognition of the cost – should mitigate the perennial problems of cash financing for film productions, new obstacles have emerged in return. Following a trend that began with previous governments, the current regulation requires certain budgetary and commercial viability that are not exempt from criticism minimum.

Specifically, the general aid require as significant requirements: (i) a minimum cost of € 1,300,000 (400.000 € for documentaries, € 700,000 for co-productions); (Ii) guaranteed funding of at least 35 percent budget; and (iii) premiere simultaneously in at least 40 rooms (20 for films less than 2 million budget, 7 for documentaries).

With regard to specific aid will be accessible films: (i) with a maximum cost of € 1,800,000, (ii) guaranteed at least 10% of the budget funding; and (iii) simultaneous release or succeeding in at least 15 rooms (10 for documentaries).

It seems that the Public Administration for more competitive products in budgetary and financial matters, reserving its aid to those whose viability, on paper, may seem more entrenched. However, there are many critical voices pointing the necessary preservation of the cultural and the need to distinguish quality of quantity, as opposed to this policy arguments.

Time will tell if this new regulation help or constrains the sector. Meanwhile, with the law in hand, we must adapt negotiable and legal structures of production to these standards.

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