Film Victoria’s switch from equity investment to non-recoupable funding of film and TV productions has prompted other state screen agencies to review their funding policies to remain competitive with the Vics.

Screen Queensland, which is in the midst of renewing its terms of trade, and ScreenWest both confirmed they are closely examining the Film Victoria initiative, which assigns the agency’s equity interest to producers.

The South Australian Film Corp., which introduced a producer equity scheme soon after Richard Harris’ arrival as CEO in 2007, is reviewing aspects of its scheme.

At Screen NSW, any adjustment of its funding policies would need to be signed off by a new film and TV industry advisory committee to be appointed by the Minister for the Arts, which replaced the board. Screen NSW recently increased the non-recoupable sum available per project from $70,000 to $100,000. CEO Maureen Barron is on leave and unavailable for comment.

Announcing the funding arrangements that began on July 1, Film Victoria CEO Jenni Tosi said an external review found there was no “real rationale” for the agency to make equity investments. Projects which are primarily but not entirely filmed and post-produced in Victoria will also be eligible for non-recoupable investment, a move which may attract more production from other States.

Film Victoria has the advantage of being the best-resourced of all the state agencies, meaning it can support financially more projects than Screen NSW and Screen Queensland.

By Don Groves INSIDEFILM [Wed 02/07/2014]