240 features and €1.5bn in investment in 2008
A previous annual record has been matched for French film production, according to data released yesterday by the National Film Centre (CNC).
A total of 240 features were accredited in 2008 (compared to 228 in 2007), i.e. the same number as in 2005. These include 196 French initiative films (185 in 2007), which marks another record of 145 entirely French features (133 in 2007). Minority co-productions also rose slightly with 44 films in 2008, over 43 in 2007.
On the financing side, investments soared to €1.5bn compared to €1.2bn in 2007. This new record particularly benefited French initiative films, which accounted for €1.26bn, while the €1bn mark was exceeded for the first time only in 2007 (€1.01bn). This 25.5% increase in investments in French-led productions has caused the average budget for French initiative films to shoot up to €6.42m (+18.2%).
Investments in minority French co-productions also saw an upturn, reaching €231.26m, compared to €197.4m in 2007. This considerable increase is all the more impressive given that the total number of majority foreign co-productions only rose by one unit – the average budget for these features thus leapt in a year from €4.59m to €5.25m.
Whereas the 2005 production record was considered a sign of overdrive, the 2008 results do not follow the same pattern, for 2009 is already shaping up to be less dynamic as a result of economic tensions.
On the other hand, the rapid increase in budgets raises certain questions about the distribution of funding among different categories of film. Further information is set to be disclosed by the CNC in March, along with detailed figures for the 2008 French production results.
(Translated from French)
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