The Australian Film Commission (AFC) has introduced some changes to its Terms of Trade for filmmakers accessing development and production funds.
Key changes include:
• The 10 per cent premium, currently payable when the AFC share of copyright in developed project is reassigned, has been abolished for all projects contracted from 1 January 2008.
• The AFC share of Screenrights royalties will now be retained by the producer for all projects contracted from 1 January 2008.
• AFC investments into the production of short films, short animation films and digital media projects will be in the form of a grant. Whilst the AFC will retain a copyright share in the project, the AFC’s share of revenue will now be assigned to the Producer.
• The AFC will be able to rollover its development investment into an equity investment on projects that are greenlit for production by the FFC or Film Australia and contracted for production between 1 January and 31 June 2008.
In addition, the AFC will be making some changes to its Film Development Funding Programs.
Guidelines for feature drama, short films and documentary funding strands are available on the AFC website.
Guidelines for Animation, Digital Media and Practitioners Support funding programs will be released in mid January 2008.
Guidelines for the AFC’s producer support program (General Development Investment Program) will be released at the end of January 2008 with the intention of holding two rounds prior to July 2008.
The two marketing support programs (marketing loans and festival support) and the funds attached to those programs will now be administered by the AFC’s Marketing Branch.
For more information see http://www.afc.gov.au/
[release from Avviso PR for the AFC]