SYDNEY — Aussie films are back in favor, with laffer “Kenny” and boy-band spoof “BoyTown” luring local auds into cinemas, while “Ten Canoes” has wowed critics, but the dollars are not yet flowing back to federal government coin agency the Film Finance Corp.
It recouped just A$9.2 million ($7 million) on a slate of 65 films, telepics, docs and kidvids for the financial year ending in June, the lowest in real terms since the FFC was founded in 1989, according to its annual report.
FFC topper Brian Rosen attributes the dismal return to the poor comedies that damaged the local film industry a few years ago and says returns from the new crop of pics will take another year or so to flow back.
In the past few years, Rosen has deliberately repositioned the FFC to stimulate production.
He argues that as a government body, the FFC should use its funds to attract private, public or foreign equity investment and nurture the Aussie biz.
Biz is gearing up for the annual Screen Producers Assn. of Australia confab Nov. 14-17, where boosting foreign returns and co-productions will top the agenda.