International output in France has increased by three times from a pre-pandemic 2019 investment of €305 million to a total expenditure of nearly €1 billion ($1.09 billion) in 2022, up from €398 million in 2021, thanks to a competitive tax rebate and infrastructure investment.
The increase in foreign production in the region, according to CNC director of digital Vincent Florant, “is obviously not just a post-Covid catch-up trend.”
The TRIP (Tax reimbursement for International Production), a reimbursement of up to 30% of the eligible production costs up to a cap of €30 million ($32.7 million), benefited 101 projects in 2022. The rebate increases to 40% when VFX costs exceed €2 million ($2.27 million) on home turf.
The number of projects benefited by TRIP in 2022—101—was twice what it was in 2019—55 projects. The figure was 56 in 2020 and 62 in 2021. An important factor in the growth has been the presence of foreign streamers who produce films and television shows in both French and English.
Visits to France are made by Adam Sandler and John Wick
Several recent films, including the box office success John Wick 4, were produced using TRIP technology last year. The film was filmed in renowned locations around Paris, including the Louvre museum and the Arc de Triomphe on the Champs-Elysées. All of the VFX work was completed in France. The Studios de Paris, the Eiffel Tower, and other locations were used in the filming of Jeremy Garelick’s Murder Mystery 2 for Netflix.
Other high-profile projects include Anna Winger’s multilingual co-production Translatlantic, Thomas Napper’s feature-length documentary Clicquot from WME Independent, The New Look and Franklin from Apple TV+, and Mr. Spade from The Queen’s Gambit co-creator Scott Frank and showrunner Tom Fontana.
According to the CNC, of the qualifying TRIP projects, approximately two thirds of total expenditure (€664m) went to fiction projects, and one third (€327m) to animation projects. The Super Mario Bros. Movie by Illumination Mac Guff and the second season of Arcane on Netflix, produced by Fortiche Studios, are examples of animated works.
Extending their TRIP
Leading French producer and CEO of Peninsula Film John Bernard said, “The 40% changes everything,” adding that local producers are “getting 40% on their below the line as well.” That is the reason Franklin visited. The New Look remained throughout for that reason.
Inception, Hugo, The Tourist, and the upcoming Clicquot are just a few of the high-profile foreign productions on which Peninsula has worked. The dynamics of how we search for business and conduct business have changed because we are producing entire films rather than just a portion of them, he continued.
The Bourne Ultimatum was an action thriller produced by Peninsula in 2007, and “they came to town to do three days of shooting and no stunts.” The universe has completely changed today.
He said, “France is now emerging as the most sought-after location for filming.” He stated, “They don’t need to multi-hub,” and added, “You’d be mad not to bring a whole show to France,” given the improved incentives.
Raphael Benoliel adds, “It’s one of the best tax credits in the world for series.” Raphael Benoliel is a producer who is sought after in Hollywood and beyond through his business Firstep. In addition to each of the four seasons of Emily in Paris and Raise The Dead, Benoliel oversaw line production for John Wick: Chapter 4, Murder Mystery 2, and David Fincher’s upcoming The Killer.
The CNC is making more and more efforts to bring and retain foreign shoots in France. The “France 2030” plan’s “The Great Image Factory” project will cost a total of €2 billion to build soundstages, virtual and physical production, VFX and animation, as well as education. Following a €1 million studio renovation in 2020 and a €10 million investment in 2021.
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