Press release from Media Funds Management
Outsource Media Group (OMG) of Beverly Hills and Sydney based Media Funds Management (MFM) have entered into an agreement to combine their expertise and funding sources to support the theatrical release in North America of a number of bigger budget Australian and New Zealand motion pictures.
MFM perceives a growing trend by Australia and New Zealand producers to develop bigger budget projects that are reaching out to a broader international market place.
The very thing standing in the way of this happening is theatrical exposure of these movies in North America. OMG’s strategy provides that window of opportunity.
OMG’s strategy is to position itself as an independent financer of prints and advertising for the theatrical release in the territory of North America of independently produced motion pictures with budgets generally ranging from $US15million to $US50 million that are seeking to achieve a studio style theatrical release.
OMG P&A facility provides these productions entry into the Hollywood system through a significant U.S. theatrical release, followed by its arrangements with various Hollywood studios to facilitate the release of these motion pictures in various media including DVD, video on demand, pay TV and ancillary media.
MFM is in the business of providing funding for independently produced motion pictures primarily but not exclusively in the territories of Australia and New Zealand.
MFM’s funding is defined as asset backed funding including funding against offsets, rebates, tax credits and the discounting of pre-sales, minimum guarantees, distribution guarantees, and GAP funding against sale agents projections in the international territories.
Part of MFM’s focus is the emerging co-production market that is looking to take advantage of the 40% Producer Offset in Australia and the equivalent rebate available in New Zealand.
Regardless of the current Australian dollar exchange rate, a number of big budget productions from USA, Europe and UK are gearing up to come to Australia. MFM sees these productions as a perfect fit for the OMG strategy.
MFM is presently Executive Producer on Fred Schepisi‘s ‘The Eye of the Storm’ starring Geoffrey Rush, Judy Davis, Charlotte Rampling, and Simon Wincer’s ‘The Cup’ starring Brendan Gleeson and Stephen Curry as well as Stephan Elliott’s ‘A Few Best Men’ which recently commenced production.
OMG’s upcoming films include Jay Chandrasekhar’s ‘Shotgun Wedding’ which it will release in partnership with Sony, and Simon West’s ‘Mariah Mundi & the Midas Box’ which it will release in collaboration with Fox; both films will begin production in late January.
MFM expects in 2011 to broaden its motion pictures funding base into United Kingdom and North America.