Studio Babelsberg has posted its most successful financial year since the privatisation of the production complex in 1992 thanks, in particular, to such international co-productions as the Wachowski brothers' Speed Racer, Bryan Singer's Valkyrie and Tom Tykwer's The International.
On the publication of its annual report for 2007 on Tuesday morning in Frankfurt, the publicly listed Studio Babelsberg AG announced that the group's consolidated turnover had jumped from $25.6m (Euros 16.4m) in 2006 to $135.9m (Euros 87.1m) last year with a positive result of $9.3m (Euros 6m).
In 2006, there had been only one film production shooting at the Babelsberg lot, Stefan Ruzowitzky's Oscar-winning The Counterfeiters. However, 2007 saw the studios busy with 12 productions as co-producer or service provider, ranging from the big-budget US productions through Jaco van Dormael's futuristic Mr Nobody and Ruzowitzky's family film Lily The Witch to Ole Christian Madsen's Danish-German co-production Flame & Citron and Vanessa Jopp's comedy Messy Christmas.
The studio management pointed out that, thanks to the introduction of the German Federal Film Fund (DFFF) incentive scheme last year, the studio was able to board several productions as co-producer, thereby strengthening its position in the international market as well as giving a boost to the German film industry in general.
'After the magnificent financial year for 2007, the outlook for 2008 is also positive,' Studio Babelsberg's President and CEO Carl Woebcken commented, adding that the studio will 'expand the area of co-production as a further growth segment.'
On the publication of its annual report for 2007 on Tuesday morning in Frankfurt, the publicly listed Studio Babelsberg AG announced that the group's consolidated turnover had jumped from $25.6m (Euros 16.4m) in 2006 to $135.9m (Euros 87.1m) last year with a positive result of $9.3m (Euros 6m).
In 2006, there had been only one film production shooting at the Babelsberg lot, Stefan Ruzowitzky's Oscar-winning The Counterfeiters. However, 2007 saw the studios busy with 12 productions as co-producer or service provider, ranging from the big-budget US productions through Jaco van Dormael's futuristic Mr Nobody and Ruzowitzky's family film Lily The Witch to Ole Christian Madsen's Danish-German co-production Flame & Citron and Vanessa Jopp's comedy Messy Christmas.
The studio management pointed out that, thanks to the introduction of the German Federal Film Fund (DFFF) incentive scheme last year, the studio was able to board several productions as co-producer, thereby strengthening its position in the international market as well as giving a boost to the German film industry in general.
'After the magnificent financial year for 2007, the outlook for 2008 is also positive,' Studio Babelsberg's President and CEO Carl Woebcken commented, adding that the studio will 'expand the area of co-production as a further growth segment.'
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