Film arm Degeto loses $26.1 mil from budget

BERLIN — German pubcaster ARD has slashed €20 million ($26.1 million) from the budget of its Degeto film arm for the next two years.
However, outgoing chairman Peter Boudgoust said Wednesday that production and co-production would not be affected. Cutbacks will be made in funds for licensing, particularly of foreign films, with more reruns to make up the shortfall.
ARD is also cutting $26.1 million from its sports programming budget over the next two years.
The pubcaster blamed the cuts on a drop in funds raised by the mandatory license fees paid by viewers, due to the country’s declining population.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0