What's Happening?
The Wing, a new post-production and film financing company, is launching in New Zealand ahead of the Cannes market. Co-founded by Tavake Limited and Be Hope Films, The Wing aims to offer international producers post-production services bundled with an equity
financing mechanism. This mechanism converts post-production spend into investment, leveraging New Zealand's Screen Production Rebate, which returns 40% on qualifying expenditures. The Wing's financing capability is supported by a strategic alliance with Hinterland, a New Zealand-based screen media finance company. The company targets independent and mid-tier international co-productions with budgets between $5M and $15M.
Why It's Important?
The launch of The Wing represents a significant development in the international film production landscape, particularly for projects involving New Zealand. By providing a streamlined financing and post-production service, The Wing could attract more international co-productions to New Zealand, boosting the local film industry and economy. The company's approach to bundling post-production services with equity financing could simplify the financial planning process for producers, making New Zealand a more attractive location for film projects. This initiative may lead to increased international collaboration and investment in New Zealand's film sector.
