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RGM Media unveils film and TV plans for 2011
[Tue 03/05/2011 04:31:30]
By Brendan Swift
RGM Media plans to begin production on four feature films and four TV programs by the end of the year, which will help lift its annual revenue by up to 10 per cent.
The Singapore-based company, which was founded by Robyn Gardiner in 1982 and is best known for representing several high profile actors, is attempting to transform its business into a production house.
The company did not name the four film projects it expects to have in production but it has spent several years developing a sequel to 1991 hit Point Break and has previously named two other films in development – Young Guy and The Proving Ground. In March, it valued its investment in Point Break 2 at more than $1.7 million, according to its half-year financial report.
Among its TV productions planned for this year are Asian versions of reality TV shows The Apprentice and the People’s Choice Awards. It also plans to complete two scripted series and telemovies for global distribution.
The company is targeting high-growth emerging markets and recently appointed respected executive Greg Coote, who also sits on the advisory board of Singapore's Media Development Authority and chairs ScreenSingapore, as chairman.
The company also said its operating costs are expected to be in the range of $US5.8 million to $US6.0 million this year (excluding depreciation and amortisation costs of about $US120,000 to $US140,000). In the six months ended December 31, 2010, it posted expenses of almost $4.64 million.
RGM said its revenue is expected to lift between 5 and 10 per cent this year. In the six months ended December 31, 2010, its revenue from ongoing operations was $1.42 million.
The company posted a net loss of $3.30 million for the second half of 2010.
Meanwhile, RGM also said it expects production services income for each film to be between $US800,000 to $US1.2 million; between $US400,000 to $US600,000 for each reality TV show; and between $US800,000 and $US1.2 million for each scripted series.
