The New Zealand Film Commission welcomes the Government’s renewed support of the screen sector following the release of its Screen Sector Review today.
The review has retained both the Large Budget Screen Production Grant and Screen Production Incentive Fund, administered by the NZFC and marketed offshore by Film New Zealand, and introduced a number of changes to improve their effectiveness. The review also recognises the diversity and strengths of New Zealand's screen production industry.
Changes to the LBSPG include lowering the threshold for the 15 per cent rebate on television production from $15m to $4m of qualifying New Zealand production expenditure. The threshold for qualifying for the Post, Digital and Visual Effects Grant also lowers from $3m to $1m.
Changes to SPIF include ensuring private investment in the sector by requiring a minimum non-government investment in qualifying films of at least 10 per cent, with at least 25 per cent in the case of television. The threshold for qualifying animation projects is being reduced from $1m to $0.4m per hour. Short animation projects will now also be able to access NZ On Air or Te Māngai Pāho funding alongside SPIF.
“As well implementing these changes quickly, the New Zealand Film Commission will also be working to ensure that there is a unified approach to help align and leverage the efforts of screen sector agencies, especially with respect to identifying and developing talent and helping them make international connections,” says New Zealand Film Commission Chief Executive, Graeme Mason.
“The results signal the Government recognises the value of screen to the New Zealand economy, and the role incentives play in attracting large budget productions and in particular international investment into New Zealand,” says Film New Zealand Chief Executive, Gisella Carr.
A full list of the changes can be found here.