Earnings hit new low at Oz film funder

Film Finance Corp. down $6.8 mil

Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30.

But it notched up its worst annual earnings in its 17-year history — down to $6.8 million.

FFC earnings peaked in 1998 at $18 million and have since bounced between $11.5 million and $8.6 million until this year.

The accounts detailed in the FFC’s annual report, published this week, show precisely how poorly the Aussie industry has been doing in recent times.

They do not include receipts from the strong B.O. enjoyed by “Little Fish,” “Look Both Ways” and “The Oyster Farmer.” However, they do include coin from “Wolf Creek,” for which the Weinstein Co. acquired rights to North America and selected territories for $3.5 million.

Foreign sales accounted for 66% of the FCC’s incoming coin last year, with the remainder from local revenue.

More Film

  • 'The Guilty' Review: Lives On The

    Sundance Film Review: 'The Guilty'

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

  • Steve Bersch Clint Culpepper

    Screen Gems Shake-Up: Clint Culpepper Steps Down, Steve Bersch Takes Over (EXCLUSIVE)

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

  • Hearts Beat Loud Sundance

    Sundance: Sony Pictures Worldwide Nabs Foreign Rights to 'Hearts Beat Loud'

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

  • American Animals

    Sundance 2018: Films, Stars & Cultural Moments Gain Early Buzz on Twitter

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

  • Human Affairs

    Slamdance Kicks Off, Prepares to Debut Its Russo Brothers Fellowship

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

  • PGA Honorees 2018

    PGA Honorees Sound Off on Risk, Reward and Storytelling

    Australia’s government-backed film funder the Film Finance Corp. invested a record A$88 million ($64.5 million) in 67 new films, telepics, kids’ series and documentaries with total slates worth $169 million in the financial year ended June 30. But it notched up its worst annual earnings in its 17-year history — down to $6.8 million. FFC […]

More From Our Brands

Access exclusive content