Predicted crisis in filmmaking never materialized
MADRID — Film production levels rose in Spain in 2003 with 126 locally produced films released, up from 2002’s 114 pics, according to a study presented Thursday by Spain’s Academy of the Motion Pictures Arts and Sciences.
The 126 films included 49 co-productions, predominantly with Europe and Latin America.
All the Academy figures are estimates: later this year, Spain’s ICAA film institute will publish definitive figures.
The Academy study does, however, suggest the predicted crisis in filmmaking never materialized, thanks to renewed if not yet stabilized TV finance.
Whether the film industry is financially healthy is another question. Only six films had budgets of more than e6 million ($7.6 million). Average pic budgets, including co-productions, dipped from $3 million in 2002 to $2.8 million in 2003.