News
February 6, 2017
January Update from FilmOntario, January 30, 2017
Tax Credit Update: Treatment of Talk Shows
In October of last year the federal government removed talk shows from the list of excluded productions for the Canadian Film or Video Production Tax Credit. The Ontario Ministry of Finance has announced that the provincial government will not be making a similar eligibility change for any of the province’s screen-based tax credits. This means that talk shows that weren’t previously eligible for tax credit support in Ontario will continue to be ineligible.
Please contact me if you have any concerns about this decision. If you questions about tax credit eligibility in general, please contact the OMDC directly.
Mayor John Tory Completes Another Successful Visit to Los Angeles
Toronto Mayor John Tory was in Los Angeles last week to meet with important film and television stakeholders and promote the City’s five-point plan for film and television, which was passed by City Council in June. Various Toronto stakeholders joined the Mayor on this trip, which included a tour of Sim Digital’s L.A. facility and meetings with new stakeholders such as premium cable companies and independent feature companies.
Information Session on the National Research Council’s IRAP – February 2, 2017
Through support from the National Research Council’s Industrial Research Assistance Program (IRAP), your company can receive initial funding support to work with Sheridan’s Screen Industry Training Centre (SIRT) to explore how you can accelerate product and process development, marketing and commercialization in the VR and AR sectors.
SIRT is hosting an event on Thursday, February 2, to learn more about how your company can collaborate with SIRT. For registration and more information, please click here.
William F. White February Freeze – February 7, 2017
The annual February Freeze trade-show is known for bringing together production professionals with the very latest innovations and technologies. This year’s event will be heled at Toronto's largest world-class production support complex, William F. White Centre, on February 7th, 2017, from 12pm to 8pm. Last year's event boasted attendance of more leading film, television and digital media production professionals than ever before, spanning regions from Ontario and the U.S.
For more information and to register to attend the event, please visit their website.
Coming Soon: Member Survey
As you will recall from the AGM, in 2017 we are planning to survey members on employment and other economic indicators, in order to support FilmOntario’s ongoing work in improving industry data that is being done in conjunction with the Minister’s Advisory Panel on Film and Television. Watch your inboxes for this important survey – and please fill it out when you get it! We can’t do this work without your help.
WEEKLY UPDATE
from Kelly Graham-Scherer, Los Angeles Representative - January 27, 2017
The film and television business is booming across the globe and the U.K. is no exception. As detailed in Deadline Hollywood below, the British Film Institute released stats this week showing that overall production spend in Britain was a record $2 Billion US (£1.6B) in 2016.
http://deadline.com/2017/01/uk-production-spend-record-2016-bfi-1201894573/
Tax credits continue to be a driving force for jurisdictions everywhere, including Pennsylvania where an article critical of the state's transferable tax credit system got a lot of play across the U.S. this week. As detailed in the New Pittsburgh Courier below, sales of film tax credits in that state have created a nearly $300 million cottage industry, allowing non-film companies to benefit.
https://newpittsburghcourieronline.com/2017/01/22/companies-that-have-nothing-to-do-with-the-film-industry-are-profiting-from-pennsylvanias-film-tax-credit-program/
Members of the Directors Guild of America this week ratified a new contract that will provide a significant boost in residual payments from streaming video services, as well as an increase in wages. As reported in the Los Angeles Times below, the new terms were in response to the growing dominance of Netflix, Amazon Prime, Hulu and other streaming services in the entertainment space.
http://www.latimes.com/business/hollywood/la-fi-ct-dga-contract-ratification-streaming-20170126-story.html
There is buzz in Hollywood this week over what's next for one of the most iconic figure in the entertainment industry. As reported in the Times below, Jeffrey Katzenberg, the founder and former chief executive of DreamWorks Animation, has raised $591 million for a new Beverly Hills investment firm, which is expected to pursue investments in emerging companies that work in the increasingly hybrid industries of technology and entertainment.
http://www.latimes.com/business/hollywood/la-fi-ct-katzenberg-investment-20170126-story.html
Finally this week, there is some good news for Ontario screen-based stakeholders with the announcement that studio owners at Toronto's Revival 629 will build a new 7,500 square foot studio called Revival XP. As detailed in Yahoo Finance below, the 7,500 space will cater to those in the industry producing music videos, TV commercials and virtual reality (VR).
http://finance.yahoo.com/news/revival-629-film-studios-announces-210000804.html
Warmest regards,
Kelly
Kelly Graham-Scherer
Los Angeles Representative
Toronto/Ontario Film Office