Netflix took the lead in the latest round of tax breaks given to productions by the state film office.
The California Film Commission said on Monday that the streamer received $37.1 million in incentives to film in California, beating MGM ($19.6 million) and Warner Bros. Pictures ($12.6 million). HBO led the previous credits distribution and Netflix twice before.
Netflix has been credited for two features, Evil Moon: Part 2 and an untitled film. The first installment of Zack Snyder’s project also received a tax credit for filming in California last year. The sci-fi adventure follows a young woman, played by Sofia Boutella, in a peaceful colony on the edge of the galaxy, who is forced to seek help from neighboring planets to fend off an invading tyrant.
all phillips Joker: Folie a Deux The headlines are four studio films that received a boost, albeit the least awarded. Unlike other high-production states such as Georgia, only the eligible spending portion of a film’s budget that does not include talent compensation is eligible for credits under California’s tax credit program. Both Joaquin Phoenix and Phillips will receive $20 million from the sequel’s $150 million budget, while Lady Gaga will receive $10 million.
“No other city has more resources than Los Angeles when it comes to our industry,” Phillips said in a statement. “Having spent the last few years filming here in the US and around the world in iconic locations, I look forward to getting back to work in the place I call home and serving the state by bringing a project of this magnitude to California.” “
In total, the film office allocated $93.7 million in credits to 18 films. They tend to generate about $915 million in spending statewide, according to the commission.
California allocates $330 million annually to film in the state. This amount was increased by US$90 million over two years to attract production from other areas. In recent years, studio films have fled California in search of more lucrative tax breaks. Georgia, which has an unlimited film and television tax credit program, is the most popular destination.
“We are excited to continue to accept big-budget films that were previously so susceptible to irregular production,” California Film Commission Executive Director Colin Bell said in a statement. “In addition to our incentives, we have the best talent, equipment, infrastructure, location, climate and much more. California is committed to helping filmmakers make the most of what we have.”
An untitled Netflix project received the most credits ($20.5 million), with MGM. Case of the Crown of Thomas back (US$19.5 million). The latter, the third remake of the title, stars Michael B. Jordan as a billionaire thief in a game of cat and mouse with an insurance investigator who is also his love interest. It is produced by Joe and Anthony Russo through their AGBO brand.
Among independent films, credit was given to Sofia Coppola’s untitled Peppermint Road project.
The California Film Commission received 57 submissions during the film’s tax credit period. The next application period for the resources will be from January 30th to February 1st. September 6, 2023. The next application period for TV series will take place from September 19 to 26.
The full list of recipients is below.
studio movies
Joker: Folie a DeuxWarner Bros. Pictures, $12.6 million
Case of the Crown of ThomasMGM, $19.6 million
Evil Moon: Part 2Netflix, $16.6 million
Untitled NF Project, Netflix Productions, LLC, $20.5 million
independent films
one foot in the graveFITG Film LLC, $1.4 million
a special relationshipSee-Saw Film Limited, $2.5 million
creatureRush Job LLC, $2.5 million
ElmhurstXRM Media LLC, $440,000
green lightDistribution by means of faith, $1.2 million
Weapons and MosesArms and Moses LLC, $735,000
a perfect strangerDangerous Game Productions, $2.5 million
pizza delivery girlMaggot Productions II Inc., $1.5 million
ShellShell Movie LLC, $2.5 million
loveThe Cure Movie LLC, $763,000
knockout queenAtlas Entertainment, $2.5 million
sortingEnd Cue LLC, $1.2 million
Untitled JJR Surf Film, Ghost Three Films LLC, $2.9 million
Sofia Coppola’s Untitled Project, Peppermint Road Inc., $1.9 million
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
