Edmonton Economic Development Corporation: New Fund to Benefit Edmonton's Film, TV Industry
Investment supports city's economic diversification, cultural goals
(firmenpresse) - EDMONTON, ALBERTA -- (Marketwire) -- 03/16/12 -- Edmonton's film and TV crews and the city's reputation as a filming destination are set to benefit from a new investment fund, details of which were announced today.
The launches with an initial $10 million partnership between (EEDC) and Los Angeles-based Kilburn Media. Both partners will invest equally in film and TV projects that will be made in and around Edmonton. EEDC's goal is to stimulate consistent work opportunities for the city's film crews.
The fund is profit-motivated. As equity investors, partners have full expectation of making back their investment and generating a profit. To mitigate investment risk, partners will invest exclusively in projects that have a solid pre-sale agreement in place. Profits resulting from EEDC's investment will be returned to the fund to generate more opportunities for Edmonton film crews.
"We want to sustain our city's film and television talent pool and ensure opportunities for the next generation of people training in this industry," says Brad Stromberg, Edmonton Film Commissioner at EEDC. "Kilburn Media brings tremendous influence and industry expertise to the partnership."
Local, national and international productions can be considered if they meet set criteria, including having a confirmed and viable distribution deal in place for the final product. Kilburn will pre-screen and recommend projects that fit the model. Financials of those projects will be scrutinized by an Edmonton- based business team case by case before EEDC agrees to participate in any individual project.
"This is a unique partnership of like-minded, fiscally responsible entities," says Mark Manuel, CEO of Kilburn Media. "We will select projects based on their financial merits; anything less and you face the risk of having an unsustainable model in place. I like the players involved. I like the city. This can work."
EEDC's investment supports the City of Edmonton's 2008-18 cultural plan () to sustain and support creative industries and the City's 2009-18 strategic plan ), which encourages the diversification of Edmonton's economy.
Edmonton currently hosts such acclaimed series as the sketch comedy , the drama now being sold internationally, and the award-winning youth series and has been part of numerous feature films.
Edmonton Economic Development Corporation (EEDC) provides leadership in economic development, markets Edmonton as a must-see destination, manages the Shaw Conference Centre and Edmonton Research Park, and acts as a stakeholder in TEC Edmonton, a joint venture with the University of Alberta. For more information, visit Learn more about Edmonton through the stories of people who've experienced it at
Backgrounder
Who can apply to the fund?
Will there be a limit to the fund's investment in a production?
Is there a cap to the number of active productions in Edmonton at any one time?
Does the fund target a specific genre?
What happens to the profit that comes from the fund's investment in a production?
Contacts:
Edmonton Economic Development Corporation
Renee Worrell
Communications Manager
780.932.4865
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Datum: 16.03.2012 - 10:15 Uhr
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