Moscow -- A $20 million scheme for financing local film projects, launched by major Russian producer and studio operator Russian World Studios (Rws), has yet to get off the ground due to copyright and debt issues, as well as unclear commercial prospects of most of the applications.
Rws announced the program earlier this year -- at a time when government support for the film industry is uncertain and private investors have virtually abandoned it -- encouraging producers whose projects were suspended, as well as those with new projects, to apply for funding.
"We have considered more than 70 projects at different production stages," Yuri Sapronov, Rws' CEO, told THR, adding that the company decided to release funding only for two features so far -- both of them being new projects rather than those lacking cash for completion.
"When launching the program, we expected that there would be many projects already in production or even halfway through completion,...
Rws announced the program earlier this year -- at a time when government support for the film industry is uncertain and private investors have virtually abandoned it -- encouraging producers whose projects were suspended, as well as those with new projects, to apply for funding.
"We have considered more than 70 projects at different production stages," Yuri Sapronov, Rws' CEO, told THR, adding that the company decided to release funding only for two features so far -- both of them being new projects rather than those lacking cash for completion.
"When launching the program, we expected that there would be many projects already in production or even halfway through completion,...
- 8/20/2009
- by By Vladimir Kozlov
- The Hollywood Reporter - Movie News
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