€800,000 fund for Maltese productions aiming for international silver screen

A new €800,000 fund will help local media companies develop content for television and online platforms.

Launched on Thursday, the fund was set up to help create productions that are attractive to both local and foreign audiences. 

“Keep in mind not only the local audience but also the international one,” Minister Carmelo Abela told media during the launch. 

As the minister in charge of local broadcasting, Abela spoke about exporting productions abroad, and said that Malta should do more to promote local content abroad in a coordinated manner.

The fund will only be available for private audio-visual companies registered in Malta. Media companies owned or associated with a political or religious organisation will not be eligible for funding. 

Shows or films must have at least 75% of its production carried out in Malta in order to receive funding. Eligible production formats include films, series or mini-series, documentaries, reality programmes, games shows, and children’s or young adults programmes.  

The types of funding will be split into two possible avenues. Production companies could receive a grant not exceeding 20% of total expenditure, or a €75,000 lump sum dependign on which is lower.

Alternatively, government is offering an equity funding option. The production company will receive an investment sum of up to €100,000 in a production project, and as a consequence, the fund entity will become a shareholder in the project on a pro-rata basis.

Minister Carmelo Abela said production companies could receive a one-off grant or an investment sum that will see the fund entity become a shareholder

At any point in the production, beneficiaries may request to buy back the equity.

Eligibility will be based on six criteria. The activities funded must be related to the development and production of media content, and applicants must provide a business plan proving that the project is feasible and not solely reliant on the grant.

The project must have the potential to generate income from another geographical market besides Malta, or alternatively must attempt to promote innovation in terms of practice, script, genre and approach. 

The project must commence by 31st December 2021, while second or subsequent seasons of existing series will not be eligible.
At least 75% of the total project expenditure must be incurred in Malta, while the production itself can be in Maltese or English. 

The funds could be spent on hotel accommodation or rental of real estate to house foreign casts and crews, set construction, salaries, offices/studio space/location fees, hiring of equipment, and wardrobe or props.  

Applications will be assessed on the relevance of the project, the quality of the project, and the commercial viability and sustainability of the production. These are weighted at 15 points, 35 points, and 50 points respectively. 

Projects will have to obtain a minimum 65 to be considered for funding.