FilmEngine the producer of films that include “The Butterfly Effect” and “The Rum Diary.” It also completed one of the highest script sales in Hollywood history when it sold the rights to “Snow White and the Huntsman” to Universal Pictures for US$3.25 million in 2010, have started a joint venture in Taiwan.
The new firm FilmEngine Holdings, LLC., will raise US$50 million initially, half through equity and half through debt.
It then hopes to stretch that into a US$250 million film fund to finance the 12 films.
Hsu Po-yun, president of FilmEngine Orient, a Taiwanese joint venture FilmEngine established in February, said at a press briefing that the next venture “will drive Taiwan’s film industry forward and promote it to the next level.”
Anthony Rhulen, founder and CEO of FilmEngine, said he was excited about the new start-up and hoped it will successfully produce commercial films for audiences of all ages.
“We want to be able to create a relationship that allow Hollywood and Taiwan to work hand in hand to develop memorable projects together,” Rhulen said.
The first motion picture is scheduled to be filmed at the beginning of 2013, according to the plan.
Films slated for production will include “Formosa, Koxinga,” “Warrior”
HCM Media Post Production and Film Finance will open for business in Hollywood in August 2012.
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On the back of friendly currency trends and continuing outreach, revenue from foreign film projects in Thailand for the 1st 5 months of Y 2012 is + 17.5% above the take for all of Y 2011, the Thailand Film Office said Thursday.
Revenue from foreign feature films, TV series, documentaries, commercials and music videos in Y 2011 amounted to $39.6-M.
For the 5 month period through May 2012, revenue from foreign productions has already totaled $46.5-M. That is already close to the level for the full year Y 2010 and on track to overtake a record set in Y 2008, according to TFO data dating back to Y 2007.
The TFO cited 2 reasons for the up-tick: increased outreach at film markets and trade shows in Hong Kong, London, Cannes and Los Angeles and the USDs recent gains over the Thai baht, which has reduced the cost of production for foreign studios shooting in Thailand.
The office said productions from Japan (59), India (50), and Europe (48) were the biggest contributors to this year’s growth particularly in advertising and TV dramas.
Overall, Thailand has seen 335 foreign projects year-to-date, compared with a record 606 last year.
Hollywood productions are always welcomed warmly by the office, because of the high-value PR they bring to the tourism-dependent country.
But so far, Hollywood’s contribution to the TFO’s revenue spike has been comparatively small.
High-profile international productions that have shot in Thailand recently include Only God Forgives, Danish director Nicolas Winding Refn’s follow-up to Drive (2011).
The art-house Muay Thai fight flick, backed by Gaumont and Wild Bunch, stars Ryan Gosling and Kristin Scott Thomas and is due out in early Y 2013.
Lionsgate and Latitude Media’s The Railway Man, directed by Jonathan Teplitzky and starring Colin Firth, Nicole Kidman and Stellan Skarsgård, is also currently in production in Thailand’s capital Bangkok.
The TFO is looking to capitalize on its early Y 2012 gains. The body will be hosting its 1st “Inbound Roadshow” in Thailand for international location scouts, Hollywood studio executives and international producers later this year in a bid to entice decision makers with the country’s stunning locations, domestic production facilities and technical talent, a representative from The Weinstein Company has confirmed attendance. About 10 international studios are expected to take part.