×

Finance maven Glowinski sets up 22h22

Expert in film financing founds Paris-based fund consultancy

European film financing specialist Leonard Glowinski is founding 22h22, a Paris-based film fund consultancy.

Playing off Glowinski’s co-production, tax and incentive expertise, 22h22 looks likely to be involved in Euro tentpoles, as well as big-budget U.S. movies being made on the continent.

Glowinski was Pathe’s head of business affairs and international production from 1999 to 2009 before moving to Studiocanal as head of French and European productions.

Going forward, 22h22 will consult with Studiocanal, Glowinski said.

Film financiers tend to know their own territory very well. Glowinski’s history at two of Europe’s biggest production companies gives him an intimate knowledge of finance, key players — producers, distributors, TV execs, lawyers — and regulations in Europe’s powerhouse movie countries.

At Pathe, he set up Oliver Stone’s reportedly €180 million ($236 million) “Alexander the Great” as a France-German-U.K.-Netherlands co-production. That made it eligible for German tax incentives, U.K. tax credits and facilitated pay and free-to-air TV pre-sales.

Glowinski also helped structure the Joel Silver-produced “Unknown” as a Euro co-production, and structured “Tinker Tailor Soldier Spy” as a U.K.-France-Germany co-production.

Launching Feb. 29, 22h22 aims to address a crunch for the independent industry the world over: the rise of production and marketing costs paired with the decline of classic revenue steams — DVD, TV — forcing producers to optimize financing to reduce risk.

But there’s an upside, Glowinski said. “Subsidies and tax incentives are multiplying over Europe, co-production is proving ever more financially effective and alternative financing arrangement are growing.”

22h22 will advise producers, Glowinski said. Its services include running the numbers on financing for films, handling discussions with local authorities, and advising on the selection of and discussions with distribution and co-production partners.

Glowinski could envisage taking an associate producer credit on some of the movies he works on.

22h22 will tap international finance for French movies. Conversely, Glowinski also aims to bring more international productions to Europe, he said, adding that he will work principally out of Europe and North America.

A second step would be to ally with a sales company, he added.

On English-language movies that qualify as French productions, French subsidies are “not that interesting,” per Glowinski. French nationality can, however, enhance the value of TV pre-sales, while vfx work in Paris on non-French films qualifies for France’s Tax Rebate for Intl. Production.

The name of the company, 22h22, has no special significance, Glowinski said. “But everybody, no matter where they come from, can understand it.”

Popular on Variety

More Film

  • Southland Tales

    Streaming Platform Mubi Partners With Prada on 'Perfect Failures' Film Series

    Specialist streaming service Mubi has teamed up with fashion label Prada’s Fondazione Prada foundation on “Perfect Failures,” a curated selection of movies deemed to have been “widely misunderstood” upon their release. The joint project will launch on both the Mubi platform and the Fondazione Prada’s website on April 5 with U.S. director Richard Kelly’s 2006 flop [...]

  • Dr. Michael Morbius (Jared Leto) in

    'Morbius,' 'Ghostbusters' Sequel and More Sony Movies Pushed Back to 2021

    Sony Pictures has pushed back many of its major tentpoles — including “Morbius,” “Ghostbusters: Afterlife,” “Uncharted” and “Peter Rabbit 2” — to next year, the studio announced on Monday. Jason Reitman’s “Ghostbusters: Afterlife” has moved from July 10, 2020, to March 5, 2021; Jared Leto’s “Morbius” has been pushed back from July 31, 2020, to [...]

  • Anne Hathaway to Star in 'French

    Film News Roundup: Anne Hathaway Stars in 'French Children Don't Throw Food'

    In today’s film news roundup, Anne Hathaway will portray an American journalist in Paris, blockbuster director Michael Bay signs with Sony Pictures, and “Extra Ordinary” and “The Etruscan Smile” are added to arthouse streaming services. CASTING Anne Hathaway is starring in the movie “French Children Don’t Throw Food,” based on Pamela Druckerman’s autobiographical book, “Bringing [...]

  • Empty movie theater

    Cinemark Cuts Employee Wages Temporarily After Coronavirus Closes Theaters

    Cinemark is temporarily reducing wages for all U.S. employees while its theaters remain closed due to the coronavirus pandemic. With these measures, workers salaries will be cut by around 50%. All employees are working reduced hours and will still maintain full benefits. Cinemark’s CEO Mark Zoradi and the board of directors are voluntarily forgoing their [...]

  • Lionsgate

    Lionsgate Layoffs Hit Feature Film Marketing and Distribution Department

    Lionsgate has laid off nearly 20 employees, primarily in its feature film marketing and distribution department, sources tell Variety. The cuts had been in the works for months as part of a restructuring and were not influenced by the coronavirus outbreak, Lionsgate said. No other layoffs are currently planned, and most, but not all, were [...]

  • Visions du Réel Reimagined as Digital

    Switzerland's Visions du Réel Reimagined as Digital Only Event

    Visions du Réel, a film festival in Nyon, Switzerland, has changed the format of its next edition to accommodate the restrictions imposed by the Swiss government in light of the coronavirus pandemic. Originally planned to run from April 24 to May 2, the festival will now be a digital-only event held over a longer period, [...]

  • SAG-AFTRA HQ

    SAG-AFTRA Announces Dues Extension Program for Members During Coronavirus Pandemic

    SAG-AFTRA has developed a program to provide dues relief for SAG-AFTRA members during the Covid-19 pandemic with an extension of the May 1 deadline. “Members experiencing financial hardship resulting from work stoppages related to Covid-19 will be granted a due date extension and an installment plan for those payments,” the union said. “As part of [...]

More From Our Brands

Access exclusive content