film news

France to invest $828m into the creative arts in 2015

France-invest-box-office-cnc-fund-2015

Bienvenue chez les Ch’tis © Pathé

Despite looming budget cuts, France recently announced it was to invest €663m ($828 million) into the creative industries in 2015.

The new budget amounts to a 5% cut on the overall spend compared to the past year, but will leave the film industry relatively unscathed despite the demands of the European Commission for France to reduce its deficit.

France is one of the biggest producers of movies in the world and has a strong film industry backed by a mixture of tax incentives for local productions and funds for TV, short films and other formats including games.

With growing demand for films and locally produced French language stories, there is reason to celebrate despite the gloomy economic news we are so used to hearing about.

Over the past year, theater admissions have risen 8.7% underlining continued growth at the box office and a surge in demand over the summer months. In August, theater admissions were up 33% compared to 2013.

A percentage of cinema tickets go back into the scheme allowing the CNC to re-invest in new film productions.

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