Written by Joe Jackson on Mar 4, 2022. Posted in Incentive News

Netflix granted USD60.3 million in Californian Film Tax Credits

The California Film Commission has announced its latest round of tax credits for film productions. Netflix was awarded USD60.3 million in state credits, dwarfing Disney (USD27.2 million), Warner Bros. (USD16.2 million) and Amazon (USD16 million). Netflix received the highest total of credits in the last round, taking USD43.3 million in August 2021. In the latest round, Netflix was granted credits for four major projects: Atlas, Beverly Hills Cop 4, Family Leave and Unfrosted.

 

“Filmmakers want to work here in the Golden State and understand that chasing the highest incentive doesn’t ensure the best value,” details Colleen Bell, California Film Commission Executive Director. “We’re levelling the playing field for the types of big-budget films targeted so aggressively by jurisdictions with more sweeping incentive programmes.”

 

 

In all, 30 film projects (19 independent, 11 non-independent) were selected for the latest round of tax credits. Based on data provided with each tax credit application, they will bring an estimated USD1.17 billion in combined production spending to California, including USD774 million in qualified spending, which is defined as wages to below-the-line workers and payments to in-state vendors. Only the qualified portion of each project’s budget is eligible for tax credits under California’s uniquely targeted incentive program.

 

These 30 projects are set to employ an estimated 4,564 crew, 1,212 cast and 48,646 background actors/stand-ins. They will also generate significant post-production jobs and revenue for California’s VFX artists, sound editors, sound mixers, musicians and other workers/vendors.

 

California Film Commission

 

“We are so happy to get the California tax credit which enables us to make our whole movie there,” says Jerry Seinfeld, the writer, director and star of Unfrosted. “Having made all of the ‘Seinfeld’ series in LA, I very much wanted to come back and shoot there again. On behalf of everyone working on the movie, we really appreciate the great welcome.” The project will generate an estimated USD69.4 million in qualified spending.

 

Studio Films

The Three Joaquins, ABC Signature (Disney), USD10.2 million
Atlas, Netflix, USD20.5 million
Beverly Hills Cop 4, Netflix, USD16.1 million
Dust, Disney, USD3.6 million
Family Leave, Netflix, USD9.4 million
Greatest Hits, Disney, USD4.1 million
The Long Walk, New Line Productions (Warner Bros.), USD7.1 million
Training Day: Day of the Riot, Warner Bros., USD9.1 million
Unfrosted, Netflix, USD14.2 million
Untitled Amazon Studios Movie, Amazon, USD16 million
Untitled Original Disney Musical, Disney, USD9.3 million

 

Independent Films

80 for Brady, 80 for Brady Productions (Paramount), USD2.5 million
Anemone, AFI Media Holdings, USD369,000
Dope Little Creatures, Carbin Pictures, USD1.4 million
Earth Mama, Net-Net Worldwide, USD850,000
Home, JB CA Film 2 LLC (Jason Blum), USD2.5 million
If I Had Legs I’d Kick You, Net-Net Worldwide, USD1.5 million
Incoming, Artists Road, USD1.8 million
Lush Life, Strato Films, USD1.1 million
Mina Harker, JB CA Film 1 LLC (Jason Blum), USD2.5 million
Photos of You, MRC II Holdings, USD2.5 million
Raised Eyebrows, Cold Iron Pictures, USD1.1 million
Salinas, Hunting Lane, USD843,000
Scandalous, MRC II Holdings, USD2.5 million
Thirsty, Cold Iron Pictures, USD596,000
Transplant, Significant Productions, USD744,000
Unintended Accidental Get Away Driver, K Period Media, USD683,000
Verona Spies, ARCI, USD1 million
Untitled CG Project, New Regency, USD2.5 million
Untitled Vernon Chatman Project, Park County (Paramount), USD2.5 million

 

Images courtesy Elijah Ekdahl on Unsplash, and the California Film Commission

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