The American company DCR Finance Corp has announced it has signed a $500 million contract to bolster film and television production in Malta. The Wall Street-based company has created a consortium of studios and companies ready to invest in the island’s audiovisual sector.
The consortium includes Italian producer, Augusto Pelliccia, head of Augustus Studios, and the Maltese company CABA Productions. Pelliccia’s activities already reach into several countries, with a network of businesses in Rome, London, Madrid and Morocco.
DCR Finance said the agreement was made possible by the tax advantages offered on the island. Since 2019 these can cover up to 40% of the production budget spent in the country by film companies.
Augusto Pellicia said DCR and CABA “will use a new production system where post is embedded in production. The system makes it possible to bring post services into production, radically cutting cost and time. Thanks to this agreement, the tax rebate, the strategic position of the island, the diversity of locations it presents and, most of all, its excellent production infrastructure, we can contribute to creating value and growth for Malta.”
Sources :
https://cineuropa.org
https://www.filmneweurope.com
https://www.imdb.com
https://www.maltatoday.com.mt
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