Up to $15 million in China-based film production financing is "on the table" for Canadian writer and producer teams, as part of a script competition announced by the Whistler Film Festival Society (WFFS).
WFFS this morning released details of how the competition, which was first announced in December, will work. (See "Competition targets China-Canada film co-productions"– December 5, 2011.)
According to this morning's release, writer and producer teams can submit applications with a script synopsis by August 17. Twelve finalists will be announced by October 31; they will then pitch their projects to a panel of five international experts and three Chinese production companies at the Whistler Film Festival Summit on November 29.
According to WFFS, at least three projects will be chosen for development in 2012, and a total of nine projects over three years.
WFFS notes that while the structure of each deal will vary with the needs of its proponents, the expected average project budget is $5 million.
Harry Sutherland, the chair of WFFS's China Canada Gateway for Film committee, said China is a particularly attractive co-production partner for Canadian film professionals because it can help ensure distribution into China's massive market.
"The entire film world is looking for ways to develop relationships and growth opportunities with China and this [competition] does just that," he added.
Earlier this year, Business in Vancouver reported that, while few B.C. film companies have forged links with China thus far, a handful of local companies are chasing those opportunities. (See "Local producers look to the Far East as they focus on burgeoning Asian film opportunities" – January 3, 2012.)
