There’s a big need for more studios in France and Italy while the UK market is “saturated” with too many sound stages, according to veteran producer and Eagle Pictures president Tarak Ben Ammar.
Last month, the Tunisian-French film producer announced plans to invest €40-50 million to create new production studios in Rome which he hopes to open in 2024.
Speaking at the Audiovisual Producers Summit in Trieste, Ben Ammar said that the Italian market requires more studios space, noting that the legendary Cinecitta film studios are “full” and that it had put on hold plans to extend its studio footprint.
The combination of Italy’s 40% tax break, locations and skilled crews have led to a surge of production in Italy in recent years, including The Equaliser 3 which Eagle Pictures co-produced with Sony Pictures Entertainment.
Earlier this year Ben Ammar finalised a deal to take full control of Studios de Paris, the production facility outside the French capital which housed the Netflix series Emily In Paris. Ben Ammar co-founded and part-owned the site since 2012 with Luc Besson of EuropaCorp alongside Euromedia and Bleufontaine.
Ben Ammar said: “We feel that Italy and France do not have enough studios. The market that is saturated is the UK. In the UK there are too many sound stages because they all invested in the beginning and they did well because of the UK tax credit. France and Italy now has a better tax credit which is attracting Hollywood to France and Italy.”
Ben Ammar stressed that his new Rome studios would not be a competitor to Cinecitta, but would complement it. “I would love to call it Cinecitta 2,” he said.
Ben Ammar added that Brexit is “good news for us” and noted that EU quotas imposed on streamers to ensure they invest in European-produced content would lead to more work for European studios. “I am very optimistic on the use of stages. To make a movie in Italy today, you have to reserve a year from now.”
The UK market has seen huge investment in studios, with sound stages opening at new sites including Elstree through to Shinfield. Pinewood Shepperton has long-term leases in place for Netflix and Disney, and is building 17 new stages for Amazon Prime and Netflix.
No comments yet