The Czech Republic, the location for Robert Eggers’ “Nosferatu,” starring Bill Skarsgård, Willem Dafoe and Lily-Rose Depp, has given a major boost to its production incentives.
An amendment to the country’s Audiovisual Act has upped the incentive for live-action projects from 20% to 25%. Added to that an incentive of 35% for digital production and animation, excluding live-action sequences, has been introduced. Also, the maximum amount that can be claimed per project has been tripled to $19 million.
Another change is that documentary series can now tap into the production incentive.
In terms of the production incentives, the most significant changes will take effect at the start of January 2025. The entire law including all changes will come into force in 2026.
For a detailed explanation of how the incentives will work see here.
A major change is the new financing method. Under the new act, the total annual incentives budget will be calculated at six times the amount of money raised by the levies raised from streamers plus the mirror funding – the Czech government will match the total amount collected by the levies. The total is estimated at $92 million a year.
Pavlína Žipková of the Czech Film Commission said: “We are thrilled that this step deepens our cooperation with international partners and helps us maintain and highlight our position as a leading filming hub in continental Europe.”
Helena Bezděk Fraňková, director of the Czech Audiovisual Fund, which is the new name for the Czech Film Fund, said: “We, like other European filmmaking hubs, felt the impact of last year’s Hollywood strikes, and I firmly believe that the benefits of our program will be advantageous for both our international partners and local filmmakers.”
The Czech Republic hosts Hollywood blockbusters as well as low-budget indie films and European co-productions. Recent high-profile productions include Amazon Prime Video’s limited series “Blade Runner 2099,” Apple TV+’s sci-fi series “Foundation,” and Lionsgate’s “John Wick” spin-off “Ballerina,” with Ana de Armas and Keanu Reeves. Netflix’s “All Quiet on the Western Front,” which won four Academy Awards last year, also shot in the Czech Republic.
Source link
