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Neuflize OBC has been the bank for film and cultural industry entrepreneurs for over fifty years. It manages the accounts of more than 70% of French films, directly finances more than a third of them and supports the managers of these companies in private banking. A position that allows him to be at the root of the current problems of this famous “cultural exception”.
A moment to celebrate the creative richness of the 7e art, the Cannes Film Festival is also synonymous with a flurry of economic activity. All stakeholders are present: producers, distributors, TV channels, streaming operators, bankers and lawyers. The French ecosystem managed by CNC enables more than 200 films to be produced in France every year. Evidence of the general good health of the sector. In 2023, theaters returned to more than 180 million audiences, including 40% for French feature films, close to pre-Covid figures.
Three main challenges to overcome
Despite this favorable environment, the film industry today faces three major economic challenges. The first is related to France’s tight budgetary situation. Three systems promoting film financing are currently weakened: tax credits of up to 30% of production costs in the territory, regional funding and finally the public funding level of France Télévisions and d’Arte.
Neuflize OBC.
The second is the evolution of consumption habits towards free or paid streaming offerings. We watch less and less live at fixed times. Anne Flamant, media director of Neuflize OBC Bank, explains that “The financing system for cinema, but also for series, in France is based on significant pre-financing and distribution obligations imposed by public authorities on TV channels, but also on streaming operators. However, the risk is that streaming commitments will only partially offset the erosion of historical line channel investment.”.
The third is the rapid development of artificial intelligence. This shakes up the entire production chain, from screenwriters to actors, including the teams responsible for post-production. “AI will be a source of enormous progress, but it cannot develop in the legal wild west,” adds Anne Flamant. Or rather, they have to pay the price for training their models in copyrighted works. This is an important financial topic for producers and authors. »
Finally, two main social problems. They refer to women “They’re underrepresented in the film industry, whether it’s producing or directing, especially on bigger projects. Furthermore, on the subject of sexual and gender-based violence, beyond current awareness, rapid progress is needed.”.
Source: Le Figaro
