Coin intended for pics with commercial potential
Fueled by the U.K. Film Council’s Development Fund slate investment, Pathe and the BBC have joined forces and launched an annual development fund of £300,000 ($560,000).
The fund is intended for pics with commercial potential that might previously have been deemed too expensive to acquire or develop.
If necessary, Pathe and the BBC intend to mobilize more coin than the initial seed money in order to be able to make a move on a property or writer.
“U.K. talent has fueled some of the biggest international successes of our industry, whether it be in terms of literary adaptation such as ‘Harry Potter’ or writing talent such as Richard Curtis. Such major properties or talent rarely appear on the market, but when they do, too often the perception is that only the U.S. studios can afford to bid for such talent,” said Pathe U.K. topper Francois Invernel.
BBC film topper David Thompson added: “We need key partners at the development stage, if we are to be really competitive in the search for the most attractive projects, and we are sure that Pathe and the BBC will be a very good fit.”