Germany Increases National Film Funding to $80 Million Annually
The subsidy boost is aimed at attracting more international productions, like Steven Spielberg's 'Bridge of Spies,' to shoot in Germany.
Germany has increased funding for its main national film subsidy system, the German Federal Film Fund (DFFF), with the budget set to jump $26 million to $80 million this year.
German cultural minister Monika Grutters, who announced the funding boost Thursday, said she expects a further, substantial budget boost in 2018.
The DFFF will also introduce a new funding system specializing in big-budget productions, in a move to attract tentpole films and high-end TV series to shoot in Germany.
While the German industry can point to recent high-profile projects like Steven Spielberg's Bridge of Spies, the country often loses out to France, which has recently revamped its film subsidy program to attract bigger films, or Great Britain, which has no cap on its tax rebate model, making it very attractive for studio tentpoles.