EXCLUSIVE– The Cutting Edge Group is investing in three pics from Michael London’s Groundswell Prods. by providing music services for the films.
First up in the deal, announced Friday at Cannes, is romantic comedy “Lola Versus,” which Groundswell is producing and financing with Daryl Wein directing and Greta Gerwig and Orlando Bloom attached. Groundswell’s in negotiations with Fox Searchlight for distribution for “Lola,” set to start shooting next month.
“It’s a young, hip film that will benefit greatly from the deal with Cutting Edge,” said Groundswell president Jonathan Fischer.
London-based Cutting Edge is also investing in helmer Nicolas Winding Refn’s actioner “Drive,” starring Ryan Gosling, Carey Mulligan and Christina Hendricks, which is playing in competition. Bold Films is producing with Oddlot Entertainment and Marc Platt Prods.
Three-year-old Cutting Edge has provided advance funding for more than 130 films, most notably “The King’s Speech.”
Coin is generally for the music budget, including scoring, clearances and music supervision. It then recoups from such things as soundtrack and sheet music sales, licensing and royalties from international ticket sales and TV deals.
“There’s a dislocated market in film and music, and we offer keen expertise,” CEO Philip Moross told Variety. “Our game is services. We don’t force our composers on productions.”
Cutting Edge signed a 10-picture deal last month with Emmett Furla Films for projects to be distributed domestically by Lionsgate, including “Set Up” and “Freelancers.”
In 2008, Cutting Edge received an initial investment of $15 million from investor Aberdeen Asset Management, and set up its first multipicture deal with Joel Silver’s Dark Castle Entertainment in 2009.