Norway takes home USD24 million from major international productions
A financial report constructed by Norway’s Olsberg SPI Consultancy has revealed that the country received an overall intake of USD24 million from the two feature films, The Snowman and Downsizing that shot on location in 2016. The presence of these two production accounted for 142 new jobs with a total of USD12.7 million in payroll expenses.
The Snowman, starring Michael Fassbender was shot back in January while Downsizing, starring Matt Damon began filming only last month. Both productions were enticed by Norway’s new film incentive scheme, being the first two (of a total four) international productions to access it.
Sindre Guldvog, Managing Director of the Norwegian Film Institute explains: “the institute has estimated that we can handle four major international productions annually, and we are pleased that foreign companies want to use our film crews and natural resources. But the scheme has just been implemented and is still in development, so we must still consider whether it is the right way to spend money.”
By having these two feature films in their portfolio, Norway is becoming more appealing to international producers than ever before. Reports have emerged that Lucasfilm is considering shooting scenes for an upcoming Star Wars project in Preikestolen.
The Norway Film Institute now offers a 25% cash rebate on all locally incurred costs for both domestic and international productions. The required minimum spend to qualify varies between production types but is currently set at NOK25 million for feature films.
A total of USD46.6 million was distributed in the first round of the incentive, with applications for the second round being accepted from September 1st 2016. The cap for the 2016-2017 period will be announced October 6th.
- Norway’s film incentive increased by NOK16 million for 2016-2017 cycle
- The Netherlands Film Fund invests EUR4.4 million in 17 productions in 2018
- Norway’s new regional film fund Zefyr now available
- Downsizing starring Matt Damon to film in Norway
- Finland to establish 25% cash rebate audiovisual incentive in 2017
- Norway’s brand new filming incentives will soon be available
- Thailand’s production industry attracts THB900 million spend in Q1 2017
- Norway to introduce trial subsidy scheme
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