Teams with 2&2 on incentive program in Colombia
Miami-based CP Group is moving into movie and TV production via the launch of CP Media, which will focus on production throughout the Western hemisphere.
CP Media’s first project is a lucrative incentive program through a $100 million joint venture with 2&2 Prods. The company said that under it, U.S. producers can receive as much as 50% of the financing for movies or longform television movies shot in Colombia. The launch was unveiled at the AFM.
“This is the most attractive incentive out there,” said Sam Azar, CEO of CP Media. “It’s not a tax credit or a rebate. This is dollar-for-dollar matching for productions filmed in Colombia. More than 250,000 Americans reside in Bogota, and with its diverse urban and rural terrains, almost any U.S. movie can be produced there.”
2&2 has worked on Spanish-language versions of “American Idol,” “Project Runway,” “Sesame Street” and “Q’Viva the Chosen.” The company is an affiliate of RCN Networks.
“Colombia has been a popular film destination even without an incentive,” said Daniel Garcia Mendoza, VP of production for 2&2. “The availability of skilled crew, film labs and state-of-the art equipment is unparalleled in the region. Now, add in the most aggressive financial incentive on the globe, and the growth potential is enormous.”
CP Group is featured on the HGTV show “Urban Oasis.”
CP Group has offices in New Orleans, Bogota and Mexico City and is involved with provided Latin American investment into real estate projects in the United States.