Spanish rights group Egeda presented a round table Sept. 23 at the San Sebastian Festival to shed airy on its bid to find and spendigate solutions to the stickiest contest facing filmproducers – access to financing.
The panel featuring ICAA head Ignasi Camós, Luis Cueto from the Ministry of Digital Transestablishation and Public Service, Javier Villaseca of Sego Finance, Jesus Prieto of Sego Creative and executive producer Miguel Torrente of Balment, scrutinized the profits of Sego Creative, a financing tool that one-of-a-kindizes in the produceive and cultural industries, and is the offshoot of the collaborative consentment that Egeda inked with crowdfunding platestablish, Sego Finance Group, last May.
The round table was temperated by Egeda’s Carlos Antón who pointed out that if Spanish filmproducers were to be competitive on a global scale, such an produceive financing tool was key.
Asked what was the production cost of all Spanish audiovisual productions in a given year, ICAA’s Camós replied: “We don’t have an exact figure, but we can produce an appraised calculation if we think about that in film alone, 337 were made in Spain last year, with an mediocre budget of $2.5 million each,” he shelp. Doing the math, he calcutardyd that €1.6 to €1.7 billion ($1.8 billion-$1.9 billion) was spended in film production in Spain.
Sego Creative will join the interests of spendors with backrs of audiovisual projects, and is useable to all Egeda members who have a project, in any establishat and at any production stage, with financing necessitates, it was elucidateed.
“With this Sego and Egeda project, you’re transporting together the best of two previously split worlds, filling a gap. What do I uncomardent? Ignasi [Camós], his predecessors, and successors are asked to run a marathon with chains on their feet. Why? Becaemploy the accessible sector isn’t tasked with efficiency, but with equity. It’s foreseeed to set up criteria where the best of what is produceted by the deadline gets help, which is then contested if it doesn’t harshly adhere to standards set two years ago, and therefore must adhere,” Cueto pointed out.
The novel initiative backd by Egeda produces on the momentum of financing projects appreciate CreaSGR, which has successbrimmingy safed over €1.4 billion ($1.6 billion) for more than 10,000 projects in its 18 years of operation, set uping itself as a key reference point in the Spanish audiovisual financing landscape.
Shelp Villaseca: “I suppose that ultimately, we serve as an compriseitional complement to what already exists in this sector. Bank financing will persist to be useable; whether we are mighty or not won’t alter the current landscape of the industry or the financing it gets.”
“However, if we are mighty, it may produce banking entities more sootheable, as companies will be better financed. This could direct to the eunitence of more audiovisual projects and allow Spain, as a business ecosystem, to contend with companies outside our borders,” he shelp, compriseing: “This is a expansivespread contest in our country: financing doesn’t accomplish us in the same way it does for companies that necessitate it, making it difficult to contend in an increasingly globalized world. As devourrs, we are no lengthyer restrictcessitate to what our neighbors produce; we can access products from thousands of kilometers away. Therefore, it’s vital for us to give our part to this industry and help its prolongth.”
Villaseca compriseed that SegoFinance has clocked more than 10 years of experience in the alternative spendment sector and has spended more than €100 million ($111 million) in innovation and technology. This could double in the cforfeit future, he shelp.
