In the US, however, the film industry relies on tax credits and grants. While these measures have been successful in attracting productions, they are not a substitute for equity-based funding. California can learn from other countries and consider adopting a more comprehensive approach to supporting the industry. Equity-based funding models have been successful in various countries, including Australia, Canada, and the UK. In these countries, production companies can access funding through shares of the production or profits earned.
The National Lottery provides funding for film projects through the BFI’s National Lottery Fund. The National Lottery Fund supports a wide range of film projects, including documentaries, feature films, and short films. The fund provides financial support to filmmakers, allowing them to complete their projects and bring their stories to the screen.
This would allow the state to support a wide range of projects, from low-budget indie films to big-budget blockbusters.
A common concern is the idea of the state picking winners in film investment.
Further details on this topic will be provided shortly.