Soda launches £2m film fund
by Naman Ramachandran
29/04/2010 - Independent UK distributor Soda Pictures has launched the £2m Soda Film Fund, which will enable the company to acquire bigger films for distribution and spend more on marketing campaigns.
Under the aegis of the Fund, Soda has already picked up Francis Ford Coppola’s Tetro [trailer] and Jan Kounen’s Coco Chanel & Igor Stravinsky [trailer] from Wild Bunch. The Fund plans to acquire six to ten films that are currently being made and aims to release them by the end of next year.
The initiative is a joint venture between Soda and Lumiere Film Investments and will be driven by Soda Managing Director Eve Gabereau and Lumiere founder Nick Crossley.
Crossley said, “The Soda Film Fund is a rare opportunity for investors to enter the film distribution market, which is arguably the least risky and most lucrative sector of the film industry. Soda has an enviable track record in independent distribution and the Fund offers investors the chance to tap into their talent and experience.”
Gabereau said, “There is room in the marketplace at the moment for us to up our game, provided we take an innovative approach to acquiring, releasing and collaborations. As important as the financial influx is, so too is the added value the Fund gives to us as a company looking for new films.”
Soda Pictures currently acquires between 15-20 films a year. Some are for a theatrical release, some for their home entertainment arm only and a few are acquired for special projects such as New British Cinema Quarterly, which is the company’s touring programme of British films.