19/02/2009

The Film and Audiovisual Arts Institute (ICAA) allocated almost €67.8m in film funding during 2008, according to its annual report, which details the total amount of each subsidy, as well as the films and 319 companies financed.

This is a €6.6m increase over 2007, when €61.2m were granted (see news). As usual, the total available budget – €76.3m in 2008 – was not completely spent. This was also the case in 2007 and just before the end of the year, when an extraordinary funding competition was held to allocate the remaining €4.7m (see news). Therefore, the ICAA still has €8.5m, which it could use before the end of this year.

Once again, the most generous amount was earmarked for the amortisation of features (€50.25m, i.e. just under three quarters of the total). Nine features received the maximum sum of €1m each. These include My Name Is Juani [+see also:
trailer
film profile], Volver [+see also:
film review
trailer
interview: Agustín Almodóvar
interview: Carmen Maura
interview: Pedro Almodóvar
interview: Pénélope Cruz
film profile], Perfume: The Story of a Murderer [+see also:
trailer
film profile], Pan’s Labyrinth [+see also:
film review
trailer
film profile] and Alatriste [+see also:
film review
trailer
film profile].

The second most significant amount was dedicated to the production of features. A total of €10m was shared out among 43 projects, including Bestezuelas and El año de las lluvias (“The Year of the Rains”), which received €500,000 each.

Amounts of less than €3m were designated for the reduction of interest on bank loans, the distribution of European films and the financing of shorts. Sums of less than €1m were set aside for the development of feature screenplays, the preservation of negatives and original media and the screening and promotion of films at international festivals.

To download the full report, click here.

(Translated from Spanish)