Changes at Future Films
by Annika Pham
02/11/2006 - As part of the company’s change in direction due to the reform of UK film tax relief, Future Films, the UK film production and financing company, has strengthened its management team in London with the appointment of experienced finance executive Andrew Hildebrand and opened a branch in Los Angeles to offer bridge financing to UK producers wanting to tap into US tax credits or cash rebates.
The London office under Hildebrand’s management will continue to provide financing and production support services to international producers, and will also develop into a vertically integrated production company. Hildebrand joins Future Films from Qwerty Films, where he was Head of Commercial and Business Affairs and worked on features such as Severance [trailer] and Kinsey. He was previously Head of Business Affairs at Channel 4, where he contributed to the financing of over 100 films, including The Motorcycle Diaries, Buffalo Soldiers, and Trainspotting.
The new L.A. office, Future Films USA, will be run by Simon Horsman. The company will offer direct contact with projects, distribution channels, finance, infrastructure and talent in Hollywood and across the US, and will cash flow the US tax credits and rebates by providing immediate funds directly to UK producers. Future Films’ CEO Stephen Margolis will continue to oversee both the UK and US operations.
Until the recent reform in UK film tax incentives, Future Films has been very active in providing bridge financing and co-production arrangements to European producers wanting to co-produce with the UK. Over the last nine years, during the sales and leaseback era, the company has completed transactions of over £3.5 billion, working on a wide range of projects such as Bend it Like Beckham, Enigma, The Luzhin Defense and, more recently, Manolete by Spanish filmmaker Menno Meyjes, starring Penelope Cruz and Adrien Brody.
Future Films now has its own funds in the UK and the US, with other territories currently being developed.