You will be redirected back to your article in seconds

D Street preps $50 mil Latin American film fund

First projects will be with Disney's Patagonik

D Street Media Group is creating a $40 million-$50 million fund for Latin American films, with Disney-backed Patagonik Film Group set to co-produce at least five features.

The U.S. and Germany-based distribution and production house will pool funds from investors to back projects with budgets ranging from $400,000 to $5 million, according to D Street production VP Javier Krause, who expects to work on 10-20 features over the next five to 10 years.

D Street has signed a letter of intent with Buenos Aires-based Patagonik, Latin America’s biggest film production company.

Patagonik is a specialist in successful commercial mainstream and indie fare. Its latest comedy, “Igualita a mi” (The Same as Me), is the hottest local draw of the year in Argentina.

A possible first for the fund is “Camino a New Orleans” (Road to New Orleans), which D Street has optioned. Written by Argentina’s Fabian Iriarte, it’s about a debt collector facing a challenge.

D Street is eyeing father-daughter relationship tale “Air,” from Argentine scribe Maria Laura Gargarella, who wrote the 2008 hit romantic comedy “Motivos para no enamorarse” (Reasons for Not Falling in Love).

D Street expects to start the first project from the fund by the end of 2011.

“There’s a lot of talent in Latin America. Many films are made on barely anything and go on to travel the world,” Krause said. “But there is not much access to financing.”

The timing is good. While Europe and the U.S. are suffering economic slowdowns, Latin America is flourishing, and new funding sources are sprouting up, so far mostly in Brazil. This is a selling point for investing in the fund, either in cash or production, said Krause.

D Street is spreading its net globally, looking not only to Europe, Latin America’s traditional source of coin, but to Asia, South Africa and the U.S.

“The funds can come from anywhere,” Krause said, citing the $1 million that carmaker Volkswagen put into the distribution of D Street’s North American release of “Summer in Berlin.”

D Street is pushing forward with its own projects. “The Blue Mauritius,” to be helmed by Alexander Witt (“Resident Evil: Apocalypse”), will lense in 2011 or 2012, with Uruguay’s Natalia Oreiro to star. English-lingo pic is about five thieves out to steal a valuable postage stamp in Berlin.

Also in the pipeline is John G. Young’s “Paradise,” a look at the New York art and club scene through pop artist Keith Haring’s eyes, and “Somewhere Slow,” about a saleswoman out to escape her dull life. Both are skedded for release in 2012.

More Biz

  • Colin Kaepernick Kneel

    Colin Kaepernick, Eric Reid Reach Settlement With NFL

    Colin Kaepernick and Eric Reid, two football players who alleged the National Football League colluded to oust them from the game after they started kneeling in protest of racial inequality during the playing of the national anthem, have reached a settlement in the matter, according to a statement from the sports organization and lawyers representing [...]

  • R. Kelly

    R. Kelly Could Be in ‘Big Trouble’ Over Alleged New Sex Tape, Attorney Says

    Strong allegations of sexual misconduct have followed R. Kelly for 25 years, but the singer has always managed to slip free. Yet reports that a videotape of him sexually assaulting an underage girl, combined with the outcry surrounding the Lifetime documentary “Surviving R. Kelly,” means that public sentiment, at the very least, is definitely not [...]

  • Christian Bale as Dick Cheney in

    New Media Residuals and Feature Films Contribute to Spike in Writers' Pay

    The outlook for members of the Writers Guild of America has brightened — even amid pervasive uncertainty in the entertainment industry. According to the most recent report to WGA West members, earnings surged 2.8% to $1.41 billion in 2017, thanks mostly to gains in feature films and new-media residuals. Total covered earnings for WGA West [...]

  • Joe Dante Gremlins

    Hollywood Execs Seek Licensing Deals at the New York Toy Fair

    On Feb. 16 more than 30,000 studio executives, buyers and toy company reps will gather in Manhattan for the annual Toy Fair New York, all vying for market share and trying to snag the latest hot trend in a fast-changing industry. Those working the film side of the business will focus much of their attention [...]

  • Lady Gaga Bradley Cooper A Star

    Universal Music Group Fuels 11.3% Rise in Vivendi's 2018 Revenues

    Vivendi’s revenues were up 11.3% to €13.93 billion ($15.7 billion) in 2018, powered by Universal Music Group, which delivered such hits as the “A Star Is Born” soundtrack and Drake’s new album. UMG’s revenues climbed by 10% to €6 billion ($6.8 billion) compared to 2017. On top of the “A Star Is Born” soundtrack, the [...]

  • The Blacklist 100th Episode

    'The Blacklist' EP Sues for Wrongful Termination

    A former executive producer of the NBC show “The Blacklist” has filed suit against Sony, alleging he was fired after being wrongfully blamed for a workplace scuffle. Michael Watkins is a veteran TV director and cinematographer. He was an executive producer for several seasons of “The Blacklist,” the NBC crime show starring James Spader. According [...]

  • TV set livingroom

    Studios Sue Omniverse in TV Streaming Crackdown

    The major studios filed a copyright infringement suit against Omniverse One World Television on Thursday, as they continue to crack down on illicit streaming services. Omniverse provides packages of TV channels to various streaming providers, including SkyStream TV, Flixon TV, and HD Homerun. Jason DeMeo, the head of the company, asserted in an interview with [...]

More From Our Brands

Access exclusive content