Encouraging investment in cultural and creative content

Published 07-10-2011
Yesterday, EFTA hosted a workshop organised by CEPI, EURO­CINEMA, FERA, IMPALA and SAA on the finance and taxation of the cultural industry. The Commission also gave a brief outline on how the new media and culture programme, for 2014-2020, may look like.

In 2008, a European Platform on the potential of Cultural and Creative Industry was established in the context of the EU structured dialogue with civil society. The group consists of more than 40 organisations representing a wide range of cultural and creative sectors. The platform aims to highlight the fundamental role of cultural and creative industries in Europe and to unlock their full potential.

The Workshop was divided in two sections. The first section consisted of Case Studies giving an insight into practical problems experienced in different parts of the cultural industry related to financing and taxation. One of the presenters was the Irish film Director Trish McAdam, who gave a highly interesting talk into how her new film was developed, from the initial creative idea to the financing of the film through cooperation with a producer.

The second section focused on access to finance for cultural and creative industries. Representatives from the European Commission, the European Investment Fund (set up under the European Investment Bank), a French lending institution (Institut pour le Financement du Cinéma et des Industries Culturelles) and a German investment bank (Investitionsbank des Landes Brandenburg), the latter two specialising in support to creative industries, explored how the concerns of the cultural and creative industry could be met.

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