Film Industry Summit: €25 million package for Austrian film
After the film industry summit Finance Minister Blümel presented a €25 million package for the Austrian film industry. With this non-repayable cancellation grant, up to 75% of eligible production costs can be applied for.
“The current situation presents us with unprecedented challenges in all areas and all industries. There isn’t one solution for every sector, which is why we in Federal Government have been listening carefully, so that we’re able to offer aid tailored to the specific needs that arise in different sectors. Austrian film and the Austrian film industry are of great importance to our country, and certainly not only in terms of added value. Each year, Austrian producers produce films worth around €145 million. Indirect profitability is a factor, but it’s also particularly about advertising value and conceptual values, about everything that concerns Austrian identity. For all these reasons, it’s important to give this industry a helping hand”, said Finance Minister Gernot Blümel at the press conference after the film industry summit. The Federal Government has therefore put together a €25 million package for the film industry. This means up to €25 million of compensation where actual losses have been incurred due to cancellation. The package is valid retrospectively from 16/03/2020 and can be applied for until the end of 2021. It will be administered by aws (the promotional bank of the Austrian federal government) with the help of film experts.