Press release from Screen Australia
In recognition of the current economic climate and to support producers in maximising financial interest in their films, Screen Australia proposes to adjust the Production Financing Guidelines for feature films as they relate to eligibility for assessment.
Where previously, in order to be eligible for assessment, projects required both a bona fide domestic distributor and a recognised ROW sales agent, Screen Australia will now apply the following market attachment requirements:
EITHER:
1. A signed deal memo with an international sales agent or domestic distributor;
OR:
2. Letters of interest from both an international sales agent and domestic distributor.
In either case, the international sales agent and domestic distributor must be recognised and appropriate. As a result of the assessment process, Screen Australia may issue a conditional letter of interest in a project, where the script is particularly strong, in order to encourage market and investment interest.
The relevant guidelines and application form will shortly be revised to reflect this adjustment.