Submitted 16th November 2005
The FFC is the Australian Government`s principal agency for funding the production of film and television in Australia. It is a wholly owned government company.
The government supports film and television production to ensure that Australians have the opportunity to make and watch their own screen stories. The FFC will only fund projects with high levels of creative and technical contribution by Australians , or projects certified under Australia`s Official Co-Production Program. To support diversity, the FFC funds the most expensive program formats: feature films, mini-series, telemovies and documentaries. Cheaper formats such as current affairs, serial drama and `infotainment` are fully financed by the market, whereas the more expensive formats would in many cases not be made without government assistance.
Since its establishment the FFC has invested in 920 projects with a total production value of $2.1 billion. The Government currently funds the FFC on a triennial basis and has committed to annual base funding of $50 million to 2006/07. In addition it has $10.0 million per year specifically for feature films and $10.5 million per year specifically for television drama. Supplementing its appropriation from Government are the revenues the FFC recoups from projects active in the marketplace. These funds are used each year to support the production of new film and television programs. All Australian film and television producers/production companies can apply to the FFC for funding. To be successful they must meet the criteria set out in the FFC`s Investment Guidelines, which are the major tool for communicating FFC policies and are revised each year in consultation with the industry.
The FFC`s Investment Guidelines for 2005/06 have now come into operation. The new guidelines were developed by the FFC following consultation with the industry earlier in 2005.
The FFC welcomes an entrepreneurial approach by producers to financing and will consider a diversity of financing streams including equity investment and distribution guarantees to maximise production levels and diversity of slate.
Ffc Recoupment Split
To support producers in building viable businesses, the FFC will share the funds it recoups from each project with the producer, from first dollar. The share will be calculated on a sliding scale that remunerates producers for bringing non-FFC finance.
Where the budget of a mini-series or telemovie exceeds $2 million per hour, the minimum percentage licence fee required by the FFC from the domestic free-to-air or pay TV network will be negotiated on a case-by-case basis.
Applying For Funding
Producers are invited to discuss their projects with FFC Investment Managers as the first step in their financing strategy. Producers can then obtain direct advice on how best to structure the project to secure FFC support.
After hugely successful screenings at the Sundance Film Festival, Wolf Creek screened at Directorsí Fortnight at the Cannes Film Festival. Miramax acquired distribution rights for most territories -North America, with one of the highest prices.