EuropaCorp Reveals Plans for 2011/2012
PARIS -- Luc Besson’s French film empire Europacorp announced plans Wednesday for a 2011/2012 financial year filled with increased profit, more international sales, a rise in TV production and the launch of mega-studio the Cite du Cinema.
“In ten years, EuropaCorp has made its mark on the worldwide feature film industry (…) With the benefit of its excellent track record of international successes and its high-impact creativity, EuropaCorp will use its investment capacity and its integrated model to optimize how value is harnessed,” the group’s CEO Christophe Lambert said after a meeting chaired by Europacorp’s new management team.
EuropaCorp has an annual investment capacity of €115 million ($171 million) for new releases. The company plans to continue its international development with a growth of 26 percent expected over the next four years, particularly the Chinese market and plans to open a sales office in China.
Plus, EuropaCorp will invest in more English-language productions to make up at least 30 percent of the lineup. The company will aim to release 15 – 20 films per year, plans to sign production contracts with French independent producers and will adapt its film offering to respond to global demand for 3D titles.
The company will also step up its small screen production with international co-productions and framework agreements with key French broadcasters.
The group is also preparing for the launch of the Cite du Cinema studios in which it has a 40 percent stake. France’s first one-stop-shop film studio will feature nine film and TV sets.
EuropaCorp also announced plans to build a 3D/VFX studio, it says “in order to move to an in-house solution for the increasing preponderance of 3D and special effects needed for filmmaking.”
The group also hopes to increase revenue from VOD releases with a new method for marketing rights signing exclusive deals for new releases.
EuropaCorp’s Luc Besson and Christophe Lambert announced their strategy at a breakfast at Paris’ Royal Monceau hotel on Wednesday morning.