LONDON — The Irish Film Board has introduced rules allowing producers it finances to share in revenues from their film and TV projects, while still allowing the board to recoup its investment.
Since Sunday, the producer of a film or TV project that has received IFB coin has been entitled to an “internal corridor” of 50% subject to certain exceptions, meaning that half the money invested by the IFB will be considered money invested by the producer. The IFB will be deemed to have recouped when it has earned back half of its investment, with the other half going to the producer.
The internal corridor will not apply to net profits. Projects financed before July 1 will not benefit from the new rules.
The scheme will be reviewed within two years.