Larger budget films set for later in year
BERLIN — German media fund Studio Hamburg WorldWide Pictures is gearing up to produce and fully finance five to six English-lingo feature films with budgets between $5 million to $20 million this year.
According to Studio Hamburg WWP CEO Wolfgang Esenwein, pics have to meet certain investment criteria, including the attachment of a foreign sales company and a U.S. distributor, and a bankable minimum revenue guarantee.
“We will start out with two smaller projects around $5 million each and will be sourcing pictures with larger budgets towards the second half of the year,” Esenwein said. “Regarding the revenue guarantee it is important to know that it can be combined from different sources. As long as a split of the copyright can be avoided, presales, minimum guarantees, equity and soft money can be used jointly as collateral for a standby letter of credit from a bank.”
Studio Hamburg WWP, the international production arm of Studio Hamburg, launched in 2001 to raise north of $100 million for its current slate.
It recently produced its first project, the $8 million Irish comedy “The Boys from County Clare.” Pic, directed by John Irvin, stars pop singer Andrea Corr, Colm Meany, Bernard Hill, CharlotteBradley and Patrick Bergin. First Look Media / Overseas Film Group is handling U.S. and world sales.
Studio Hamburg WWP is repped in the U.S. by WWP’s advisory boardmembers David Korda and Alessandra McAliley, who consult on project selection.