The Region of Madrid has established itself as a pivotal force in the audiovisual industry, supporting the best films and series created by regional production companies through its funding for project development. Thanks to these grants, many productions have earned nominations and awards at prestigious national and international events, including the Oscars, Platino Awards, Goya Awards, and Forqué Awards.
Wales has welcomed new state of the art virtual production facility fivefold studios situated at the infamous Dragon Studios. Launched to elevate the fil and TV infrastructure of the region, the site boats studio and office space measuring in at 12,000 sq. ft, as well as a 5000 sq. ft fixed green screen cove, Europe’s largest.
During today’s reading of the UK budget, marking the first for the Labour government since coming into power in July, the Chancellor of the Exchequer Rachel Reeeves has confirmed an increased VFX tax incentive. Spending on VFX will be eligible for a net rebate of 29.5% and exempt from the overall 80% cap on spending eligible for film and TV tax relief. To avoid production delays, the starting date of the uplift will be available to projects with spending incurred from 1 January 2025, with claims for the rebate starting from 1 April.
Following reports of a decline in Hollywood, California governor Gavin Newsom has announced that the state is planning for a boost to the film incentive to USD 750 million. Intended to “send a statement”, these plans will more than double the existing incentive as well as draw back in production activity from the more competitively priced states who have been the more attractive option over the past year.
This summer, Madrid witnessed a zombie invasion that transformed the city. It was not the end of the world, but rather a spectacular transformation of some of its locations. Just steps away from the iconic Four Seasons Hotel, the city turned it into apocalyptic London for the beginning of the highly anticipated filming of the third season of The Walking Dead: Daryl Dixon.
FilmLA has reported a filming drop in their third quarter report for 2024. According to their findings, production in Greater Los Angeles has fallen by five percent coming in at the weakest of the year. Residual strike impact and increasing presence of incentives across the country pose significant impact on production in the infamous filmmaking city.
Netflix has added 5.1 million subscribers as reported in their Q3 findings, growing on the previous quarter, delivering above Wall Street predictions. This has sent the streamer’s total global paid subscriber count to 282.72 million. Netflix has reported a total revenue earning for the July to September quarter of USD9.825 billion with earnings per share at USD5.40.
The Producers Guild of Great Britain (PGGB) have announced that seven members will join the new Equality, Diversity and Inclusion (EDI) Committee in line with the organisation’s efforts to raise standards of diversity and inclusion below-the-line in the UK’s feature film and HETV industries. The committee will be chaired by experienced wellbeing and inclusion consultant Valeria Bullo.