“Among the truisms that infect film-business thinking, two have endured longer than most. First, when making movies, always spend someone else’s money. And, second, cinema is as close to recession-proof as it gets: when money’s tight, there is nothing quite like a darkened movie house to provide a cheap, diversionary fix.”

“co-finance equity investors are not the studios’ ‘partners’ at all… they’re prey”

“They [European film financiers] see in the recent worldwide box office takings of The Dark Knight, and the phenomenal success in France of the €10m Bienvenue chez les Ch’tis (€130m in revenues and counting) evidence not of a persistent appetite for cinema-going, but of growing discrimination on the part of ticket-buyers.”

“Most of Europe’s independent film industry is dependent on television underpinning its funding. Over the last few years, with broadcasters suffering acute market share fragmentation due to new competitors, TV licence fees have dropped. Worse still, many non-studio, non-quota films simply don’t get bought. With a recession hitting TV advertising, these problems will only be exacerbated. So traditional sources of indie film financing will likely be hit even harder. What gives the myth some credence, however, is that film is cheaper than other forms of entertainment including videogames and restaurants. If you look at supermarkets, special offers are doing well and so are the luxury items. Sales of beef fillet have gone up exponentially since it beats dining out – it’s the middle that suffers in recessions.”

“150 of the films made in France [227 in total] were watched by fewer than 100,000 people last year; their box office grosses covering a pitiful 2% of their production costs.”

“…investment in French films reached a record-breaking €1.2bn in 2007.”

“…without a plausible shot at a Best Actor/Actress Oscar nomination, films in the €5m-€10m budget range are operating in a dead zone and are harder to recoup.”

“…we think European film is still a sound investment.”

CNBC ~ The New Screen Test (01.10.2009)