×
You will be redirected back to your article in seconds

‘REC 4’ rolls in Barcelona, Canary Islands

Franchise finale confirms new finance models in Spain

BARCELONAJulio Fernandez’s Barcelona-based Filmax Entertainment has put into production Jaume Balaguero’s long-awaited “REC 4: Apocalypse,” only one of the most-anticipated Spanish titles of the year.

Rolling July 13, the final part of the demonic possession bloodbath saga also highlights new financing models for Spain’s film business as its surviving production companies, often working English-language or auteur genre fare, look ever more to international and the private-sector coin to package a now select clutch of high-profile titles.

Helmed solo by Balaguero, and co-written with “REC 2” co-scribe Manu Diez, “REC 4” returns to the original setting of the first and second installment’s dingy Barcelona apartment block, from which Angela Vidal, the game reality TV reporter Angela Vidal played by Spanish actress Manuela Velasco, is evacuated alive, the only survivor of a demonic virus. The respite proves temporary.

“REC 4: Apocalypse” is shooting for seven weeks in Barcelona and Gran Canaria, one of the biggest of Spain’s Canary Islands.

Popular on Variety

“’REC’ reflects the soul of Filmax, the films for which Filmax are known around the world as a market-minded international genre specialist,” said Filmax CEO Carlos Fernandez.

“REC’s” first three installments have grosses around a combined $50 million worldwide. “REC 4” has sold out in all major territories bar Italy, Fernandez added.

That said, “REC 4’s” financing reflects a gathering sea change in how Spanish movies are now being put together, Fernandez recognized.

Key elements in “REC 4” include an Agrupacion de Interes Economico (AIE) 18% Spanish tax break; an additional 20% Canary Island tax credit, raised like the Spanish AIE by Oceano Media, a new Barcelona-based financial consultancy, headed by Adrian Guerra and Xavier Parache, in association with PriceWaterhouseCoopers; and pre-sales by Filmax Intl., Filmax’s in-house international sales agency.

Natixis Coficine is discounting part of a Spanish ICAA Film Institute subsidy, plus pre-sales (national and international) and tax credits, said Gate Media’s Xavier Parache, who is representing Natixis Coficine in Spain.

International co-production, especially with countries with strong subsidy or fiscal support systems – like Canada, Peru and Belgium – is another now key financial instrument for Spanish cinema, Parache added.

Announced early June, a new bill in Spain looks set to extend Spanish tax credits sine diem, and allow them to take in films’ P & A spend, up to 40% of movies’ budgets.

For Parache, “Spain is now adopting film financing systems closer to those of other European countries such as the U.K., Belgium and Germany.”

He added: “Producers used to manage money from state subsidies or public TV pre-buys. They are now becoming entrepreneurs at an international level.”

Emilio Mayorga contributed to this article

More Film

  • 'Free Guy' Trailer: Ryan Reynolds, Jodie

    'Free Guy': Ryan Reynolds, Taika Waititi, Jodie Comer Star in First Trailer

    The first trailer for Ryan Reynolds’ “Free Guy” premiered Saturday at the CCXP convention in Brazil. Reynolds stars as Guy, a bank teller and NPC (non-playable character) who discovers he’s living in a video game. In the trailer, hostage situations, buildings being blown up and people shooting guns off in the street is depicted as [...]

  • KARMELE

    Asier Altuna Preps Basque Historical Drama ‘Karmele the Hour of Waking Together’

    Basque cinema is booming, and director Asier Altuna is part of the vanguard leading it forward. The Spanish filmmaker, behind 2005 Youth Award winner “Aupa Etxebeste!” and 2015 Best Basque Film “Amama” at the San Sebastián Intl. Film Festival, attended this year’s Ventana Sur Proyecta sidebar with his next project, “Karmele, the Hour of Waking [...]

  • The Day is Long and Dark

    Francisco Barreiro Cast in Upcoming Julio Hernández Cordón Project (EXCLUSIVE)

    Julio Hernández Cordón, one of Mexico’s most-awarded independent filmmakers over the last decade, has found the leading man for his next feature “The Day is Long and Dark (My Friends are Vampires),” in Fantastic Fest best actor winner Francisco Barreiro, star of Adrián García Bogliano’s “Here Comes the Devil.”. Barreiro’s casting was shared with Variety from Buenos [...]

  • Macabre

    Rio Fest’s Compact Edition Opens Amidst Sectorial Crisis

    RIO DE JANEIRO  — The 21st Rio Intl. Film Fest opens Monday Dec. 9t with the screening of Greta Gerwig’s “Little Women” in the Odeon landmark theater. The smaller than usual edition, which was almost cancelled due to the lack of municipal backing, reflects the crisis of Brazil’s film sector, involved in a battle with the administration [...]

  • Papa-YouTuber

    Peru’s ‘Papa YouTuber’ Goes Global (EXCLUSIVE)

    Argentine sales agency FilmSharks Int’l label The Remake Company has sold remake rights at Ventana Sur to Peruvian family comedy hit “Papa YouTuber” (“YouTuber Dad”) to Mexico’s Cinepolis and Italy’s Colorado Films, with several other territories pending. Advanced discussions are underway in Germany, with Spain, France and the U.S. also pending. “The U.S. deal will [...]

  • Elia Suleiman attends the screening of

    'Pleasure Is Extremely Political,' Palestinian Filmmaker Elia Suleiman Says

    In a freewheeling masterclass held at the Marrakech Film Festival on Thursday, director Elia Suleiman offered as concise a mission statement as can be, defining his guiding beliefs in four short words. “Pleasure is extremely political,” said the Palestinian director, whose films have approached the fraught nature of life in the occupied territories with a [...]

More From Our Brands

Access exclusive content