First half-year: steady production and declining investment
- A total of 114 feature films were produced between January and June, but funding fell by 10.4%
After a worrying start to the year (see the news), the volume of French film production has recovered to a reassuring level, according to statistics published by the CNC. A total of 114 feature films were approved from 1 January to 30 June (as against 113 for the same period in 2013): 87 FIFs (films of French initiative) and 27 minority co-productions. On the other hand, following a drop of 7.2% during 2013 (see article), investment has continued to fall by 10.4% to €409.18 million in the first half of 2014, constituting the lowest level for ten years: €330.87 million for FIFs (-12.9%) and €78.31 million for majority foreign co-productions (+2.2%).
Logically, the average estimated cost of a FIF has therefore decreased to €3.8 million (as against €4.37 million in the first half of 2013). Interestingly, 22 FIFs with a budget of over €5 million were produced (including seven with more than €10 million and one with over €30 million) as well as 65 with a cost of less than €4 million (including 31 with under €1 million), with the €4 million-€5 million bracket completely devoid of productions (most likely a result of one of Canal+’s procurement obligations, which states that it has to dedicate at least 17% of its pre-purchases of works originally in the French language to films that cost €4 million or less). Lastly of note is the clear fall in the amount of foreign investment in FIFs (-22.5%, to €28.08 million).
(Translated from French)