$100m milestone for Australian film and TV productions
Last night, Media Super announced a major investment milestone for Australian film and television production. At an exclusive preview screening of soon-to-be released feature film, Lion*, we announced that our investment in Australian productions has now passed $100 million.
Media Super CEO Graeme Russell said that the fund was extremely proud to have supported more than 70 Australian film and television projects, producing stable investment returns as well as work opportunities for members.
Media Super, through Fulcrum Media Finance, provides revolving cash flow for producers of Australian feature films and television programs, which is associated with the government's producer offset, a refundable tax offset (rebate).
"Media Super's investment arrangement means that we can put funds into local productions at low risk and achieve stable returns, while also giving Australian actors, filmmakers and crew continuing opportunities to ply their craft in Australia," Mr Russell said.
"Every one of our 70 projects has been completed and our investment repaid, with interest. Our members have earned 6.8% per annum from this investment since we started in 2010, a sound return for a low risk investment," he said.
Many of Australia's leading actors are Media Super members, and Mr Russell said that they endorse their super fund's support for more quality Australian screen productions.
Media Super's film and television library includes many of Australia's finest films and television programs.
Feature films funded include:
- The Dressmaker
- The Hunter
- The Daughter
- Holding the Man
- The Railway Man
- Last Cab to Darwin
- The Rover
- The Turning
Television programs funded include:
- The Gods of Wheat Street
- Miss Fisher's Murder Mysteries
- The Secret River
- Rake (Season 4)
- Upper Middle Bogan (Season 3)
Producer of Lion, Emile Sherman said Media Super's commitment to the Australian film industry is to be applauded.
"The support that the Fund has given to Australian film producers over the last six years, and which it continues to give, through its partnership with Fulcrum Media Finance, has made a significant impact on the industry and its growth. Fulcrum is very pleased to have played a part in that growth, alongside Media Super."
How the investment works
In 2007, the Federal Government announced a new tax rebate scheme for film and television. Approved projects are able to claim a tax rebate on completion of the project, which is 40 per cent for films and 20 per cent for TV.
Much, if not all, of that tax rebate from the ATO is needed during development and filming though, so Fulcrum Media Finance is able to lend up to that amount to the producer/s of a film or TV show and then have the money repaid at agreed milestones.
Interest is paid on the money lent to producers, which provides the return for Media Super and ultimately our members.
Decisions on which projects to support are made by Fulcrum Media Finance, with no active involvement from Media Super. This is an investment for the Fund based on returns, and Media Super don't make any creative decisions. That independence underpins the whole investment framework.
Graeme RussellCEO, Media SuperPh: 02 8197 2940
*LION is a film by Garth Davis starring Dev Patel, Rooney Mara, David Wenham and Nicole Kidman, with the Producer Offset cashflowed by Fulcrum Media Finance and Media Super. LION is a SEE-SAW FILMS PRODUCTION in association with AQUARIUS FILMS and SUNSTAR ENTERTAINMENT, presented by THE WEINSTEIN COMPANY in association with SCREEN AUSTRALIA. Media Super and Fulcrum Film Finance provided cashflow funding for the production of LION.
Fulcrum Media Finance is a leading provider of cash flow loans in Australia and New Zealand to finance the Producer Offset. Fulcrum Media Finance is the finance arm of See-Saw Films, which was founded by Academy Award winning producers Emile Sherman and Iain Canning.
Issued by the Trustee of Media Super ABN 42 574 421 650, Media Super Limited, ABN 30 059 502 948, AFSL 230254.
Investment warning: Investment returns are not guaranteed. Past performance gives no indication of future performance.