Philippines Launches Two-Track System For International Co-production Fund

The Film Development Council of the Philippines (FDCP) has adjusted its International Co‑Production Fund (ICOF) to provide two tracks for minority and majority co-productions.
 
The Minority Track supports international projects where the Filipino producer holds a minority equity share and offers the following levels of support [US$ amounts may vary depending on the actual foreign exchange rate]:
 
ICOF Minority Track:
 
Up to $113,000 (PHP7m) for feature films and series.
 
Up to $48,000 (PHP3m) for documentaries and short films.
 
Under this track, the Filipino producers must have at least a 10% equity share and the production must have two Filipino above-the-line or three Filipino below-the-line crew in key creative or technical roles. The production must also have a distribution plan covering international release.
 
The Majority Track supports Philippine‑led projects with international partners and offers the following levels of support:
 
ICOF Majority Track:
 
Up to $210,000 (PHP13m) for feature films and series.
 
Up to $80,000 (PHP5m) for documentaries and short films.
 
The Filipino producer must hold at least 20% equity in the project and have the highest co-producer share. In addition, the project must have at least two Filipino above-the-line roles as Director, Actor or Lead Actor, and five Filipino below-the-line crew in key creative or technical roles. The production must have a distribution plan covering both Philippine and international release.
 
FDCP is also offering bonuses for both tracks:
 
Up to $16,000 (PHP1m) for qualified ASEAN co‑productions.
 
Up to $32,000 (PHP2m) for projects that pass the cultural test.
 
Under the previous scheme, ICOF was capped at PHP10m for features/series and PHP5m for documentary, while the bonus system was the same.
 
FDCP also unveiled its recent grantees under both the ICOF scheme and its location attraction scheme, Film Location Incentive Program (FLIP), which offers a 20% cash rebate on a minimum spend of PHP20m ($343,000) [PHP8m ($137,000) for documentary] capped at PHP25m ($429,000) for international projects shooting in the Philippines.

FDCP International Co-Production Fund (ICOF):

Another World
Dir: Tommy Ng Ka Chung
Filipino Prod: Overmind Corp
Foreign Co-Prods: Point Five Creations (Hong Kong), Silver Media Group (Singapore)

Elsewhere At Night
Dir: Marianne Métivier
Filipino Prod: Fusee Media Production
Foreign Co-Prods: Le Foyer Films Inc (Canada), Altamar Films (France)

First Light
Dir: James J. Robinson
Filipino Prod: Clou Media Production
Foreign Co-Prods: Majella Productions (Australia), Good Thing Productions (Australia)

Diamonds In The Sand
Dir: Janus Victoria
Filipino Producer: Project 8 corner San Joaquin Projects Inc.
Foreign Co-Prods: IS-Field (Japan), Paperheart (Malaysia)

This City Is A Battlefield
Dir: Mouly Surya
Filipino Prod: Epicmedia Productions
Foreign Co-Prods: CineSurya (Indonesia), Giraffe Pictures (Singapore)

FDCP Film Location Incentive Program (FLIP):

Filipiñana
Dir: Rafael Manuel
Filipino Production Partner: Epicmedia Productions
Foreign Company: Potocol (Singapore)

The Garden Of Earthly Delights
Dir: Morgan Knibbe
Filipino Production Partner: ACC Cinematografica
Foreign Company: Baldr Films (Netherlands)

Electric Child
Dir: Simon Jaqueme
Filipino Production Partner: Epicmedia Production
Foreign Company: 8horses (Switzerland)