Co-production is a cooperation between two or multiple companies on a shared project. When it comes to movies, it means that two or more productions (usually from different countries) start a collective project for a specific reason – financing. In European countries movies depend on state incentives (through administration, associations, foundations, etc.) and it is a very rare occurrence that a movie is funded by a private investor. Therefore, it is much more economical for two productions to join forces whilst creating a movie or series and receive incentives each from their own state fund.
It is different on the US market because American movies are a form of investment to film studios and individuals. A European movie is not primarily based on cinema ticket sales, as opposed to the American movie which is highly oriented specifically towards that. We are generalizing a bit here because high-grossed European films do exist as do independent movies in the USA.
Co-production is not in any way limited with partner selection. There can be numerous participants involved, no matter where they find themselves. Still, co-production between two productions from two different countries is much more common, all because of previously mentioned financial reasons.
The film industry is one of the strongest in the world (the video game industry being first place), therefore any country with beautiful and interesting locations should aim to attract as many film projects as possible and to create co-productions.
Thanks to HAVC (Croatian Audiovisual Centre) and its Regulation about encouraging investors into producing audiovisual goods (Regulation down below), Croatia has managed to attract more and more foreign productions onto its territory over the last few years.
The concept is so that the local production can apply to HAVC (Croatian Audiovisual Centre) with a project as the co-producer and that is if they participate with at least 10% of the minimal budget and if at least 50% of the filming budget is going to be spent in Croatia, and if it is proven that at least 50% of the total budget has been acquired during application.
As it is stated in the Regulation, for situations such as these (co-production), 20% of justified expenses shall be reimbursed by the Croatian state budget.
Learn more about encouraging co-production in Croatia here:
Serena pro d.o.o. has participated in many international co-productions as part of a production team from Croatia and we are well aware of how much dedication such a project requires. After having spent many years working in all types of production and gaining experience in nearly all of its segments, we have surrounded ourselves with people we can count on and therefore we can execute any project as co-producers.
We remain at your disposal for any kind of inquiries and we look forward to working with you! Contact us at firstname.lastname@example.org.