Tuesday, July 15th, 2008 - 7:30PM at The Hollywood Hill Event Facility, Hollywood
Starting at AFM last year the industry assumed that the weak dollar would encourage more international sales but they didn’t really materialize. Some of the smaller, genre specific sellers did well to some bulk-title buyers but that was about it. The same story applied to Berlin and the just-finished Cannes. Turns out that the buyers want decent product rather than just an opportunity to get stuff on the cheap.
Some European producers are now taking advantage of the domestic tax credits/rebates and for them it’s a double bonus when they are converting from Sterling or Euros. Many of the UK film financiers such as GrosvenorPark, Future Films, etc. are now based in LA but still source funds in Sterling.
The rise in oil and food prices has offset a weak dollar overseas but with interest rates still very low it adds another dimension to film financing. And then there's the global credit crunch. While many hedge funds are pulling back/out of the business, and some smaller equity companies have folded altogether, the flow of funds has slowed considerably. Coupled with the disastrous initial results from some of the first funds many investors are willing to take pennies on the dollar to get out of these deals.
Join us for this detailed look at how U.S. Film Financing is being effected by the low dollar and what we can expect in the months ahead.
Complimentary Cocktails and Parking. Pre-order Meal with RSVP.