Investment up in Dutch film industry

Investment up in Dutch film industry

Since its launch in Summer 2014, the Netherlands Film Production Incentive has contributed significantly to increased investment levels in the Dutch film industry, generating over €288 million in production spend in the process.

The recent annual review, measuring the period between July 2014 and December 2017, demonstrates how cash rebates granted to 256 productions generated €288.4 million in production spend in the Netherlands, with each Incentive euro equating to €4.60 in overall Dutch expenditure. In total, 161 (63%) projects were made as international co-productions.

Film
Between July 2014 and December 2017, 245 film projects received €55.7 million in the form of Production Incentive cash rebates. As a result, €261.9 million was spent in the Netherlands on film productions. In total, 93 of the 245 film projects were 100% Dutch-funded projects (38%) and 152 were international co-productions (62%). The total spend on international co-productions in the Netherlands rose from €38.8 million in 2014 to €44.6 million in 2017. Significantly more money was invested in the Dutch film industry as a result of the scheme. Without the scheme, recipient producers would not have been expected to produce to this extent within the Netherlands alone.
 
High-end TV series
In the first application round for high-end TV series (December 2017) a total of 11 productions received a cash rebate of €7.0 million. This generated production spend in the Netherlands valued at €26.4 million. Nine of these series came about as international co-productions with countries such as Belgium, Germany, Norway and the United States.
 
Cash rebate drives investment
The Netherlands Film Production Incentive supports films and series in the form of cash rebates on production costs that are both eligible and demonstrably spent on parties that are subject to Dutch taxation. A cash rebate of up to 35% can be obtained via a Dutch production company.
The aim of the Film Production Incentive is to stimulate production activity within the Dutch film industry and to put The Netherlands permanently on the map as a film and production location. As a result of the extra funds available, the wider international network and greater employment potential, there is expected to be continued investment in (post-)production companies and freelance activity in the sector, creating opportunities to (continue to) develop talent and innovate. 
 
Films supported by the Production Incentive
Films that have been supported by the Incentive include John Crowley’s The Goldfinch, an adaptation of the novel by Donna Tart, as well as Lyrebird by Dan Friedman, an adaptation of ‘The Man Who Made Vermeers’, which recently shot in the Netherlands. Others include Dunkirk by Christopher Nolan, Brimstone by Martin Koolhoven, Cobain by Nanouk Leopold and the documentary The Long Season by Leonard Retel Helmrich. In June 2018, the epic film Redbad by Roel Reiné will be released. Redbad also was supported by the Incentive.

Adjustment scheme
Since 1 October 2017, the Incentive has been extended to include a pilot scheme for high-end TV series. This pilot has proved to be so successful that a total of €9.6 million was granted in the first two rounds. The pilot will be extended until the end of 2018, with a view to further future extension.
 
Deadlines
The next deadline for high-end TV series is 23 May 2018. The next deadline for film is 6 June 2018.
After the summer, further deadlines for high-end TV series and film productions will be synchronized, being dated 3 September and 5 November 2018.

In addition to this review, analysts from Olsberg SPI are currently conducting research into the wider effects of the Incentive between 2014 and 2017. Results are to be expected this Summer.
 
Read the Monitor
REVIEW OF THE ECONOMIC IMPACT OF THE NETHERLANDS FILM PRODUCTION INCENTIVE 2014-2017 here, click here for the infographic. 

The Monitor review was conducted by researchers from Het Creatief Kapitaal.