Cinetic sets sights on overseas business
Askin-Schreger on board to run international unitCinetic Media is getting more heavily into the international game, hiring 2929 Entertainment veteran Shebnem Askin-Schreger to run a new international unit.
Cinetic, which in addition to repping films also advises filmmakers and runs a digital and management business, hopes to bolsters its activities in the foreign-sales department.
While Cinetic has engaged in those sales for the occasional film, such as Todd Haynes' "I'm Not There" (for which it also helped raise financing), the company has focused more heavily on the domestic market. The new division, it hopes, will make foreign sales a priority for all the films it reps or consults on.
"Foreign pre-sales have always been a part of our business," said Cinetic senior finance exec Matt Littin. "But having Shebnem on board allows us to do it for all our movies, and in a more streamlined and proactive way."
In addition to providing another source of revenue, the company also hopes that an international unit will help solidify film financing for various projects. Investors, of course, tend to be more willing to put money into films when territories have been pre-sold.
Askin-Schreger previously served as president of 2929 International, where she sold and distributed a range of Mark Cuban and Todd Wagner-produced titles, including "Good Night, and Good Luck" and "The Smartest Guys in the Room." She begins her job May 1, just ahead of the Festival de Cannes.