French investment in international co-production dropped 7.3% to 1.25 billion Euros
PARIS– Following reports that French pics lost market shares to Hollywood movies in 2013, the national film board, CNC, is now unveiling figures pointing to a decline in French film investment over the same period.
Impacted by the economic recession, French investment in local films fell 4.03% to 1.02 billion Euros ($1.35 billion), while Gallic investment in international co-production dropped 7.3% to $1.35 billion, respectively.
There were 209 French-majority films produced in 2013, on par with 2012; however the average budget of a local movie reached a decade-low, falling from $6.7 million in 2012 to $5.4 million last year. Only 19 movies with budgets above $13.5 million were produced, compared with 33 in 2012.
That trend towards smaller-budgeted local films is expected to persist in 2014 as France’s major companies – Gaumont, Pathe, EuropaCorp and Studiocanal — increasingly focus on homegrown pics with contained price tags, many of which are directed by emerging filmmakers.
Some of 2013′s highest-grossing local titles, including Wild Bunch’s “Nine-Month Stretch” and Gaumont’s “Me, Myself and Mum,” were budgeted under $13.5 million.
One of the most expensive French-language movies skedded for 2014 is Pathe’s $42 million “Supercondriaque” (pictured), Dany Boon’s follow up to smash hit “Nothing to Declare.”