Double The Benefits, Double The Results
Screen Australia has recently published a report outlining the benefits of co-productions.
In a report launched at the Melbourne International Film Festival's (MIFF) 37°South Market, Screen Australia has released new research on Australian co-productions, which reveals that they typically have larger budgets, are released theatrically into more countries and have a higher international box office than domestic productions.
"Co-productions have been a significant form of international collaboration and exchange since the inception of the co-production program in 1986," said Screen Australia's Chief Executive Ruth Harley. "We believe that co-productions could be used more often and to great effect by the Australian film industry. Our analysis of the contribution of Australia's co-production output to date supports our argument."
Titled Friends with Benefits: A Report on Australia's International Co-production Program, the report provides information on Australia's program for ‘official' or ‘treaty' co-productions, including practical details on each of Australia's eleven partner countries.
"In order to help producers identify where the opportunities lie in working with different producers from different countries, the report presents detailed information on our co-production partners," Dr Harley said. "This includes comparative information on Government support, infrastructure, legal systems, population and market size amongst other relevant factors."
Co-productions automatically qualify for Government finance both in Australia and in the partner country, directly and indirectly through tax incentives. This not only enables producers to split costs, but also to work with larger budgets than might be possible on a domestic project.
While feature co-productions are generally guaranteed a theatrical release in two countries - Australia and the co-producing country - the report shows that they have tended to go beyond the two participating countries. In terms of international box office gross, co-productions typically outperform domestic productions.
As part of Screen Australia's co-production promotion, Dr Harley has also launched a new app, Doing Business with Australia, designed for local and international producers to facilitate business in the international marketplace.
Download the Doing Business with Australia app or find out more about Friends with Benefits: A Report on Australia's International Co-production Program here.
Photo caption: Emily Watson in 2011' well-received Australian/UK production, Oranges and Sunshine.