The Philippines has revamped its International Co-Production Fund (ICOF) around two tracks, with the amount of cash on offer tied to the size of the Filipino stake in a project.
\n\nThe Film Philippines Office (FPO) unveiled the new framework at the Busan International Film Festival‘s Asian Contents & Film Market.
\n\nThe Majority Track covers projects led by Filipino producers working with foreign partners. Features and series on this track can receive up to PHP13 million ($210,000), and documentaries and shorts up to PHP5 million ($80,000).
\n\nTo qualify, the Filipino side must own at least 20% of the project and hold the largest share among the co-producers. Two Filipinos must fill above-the-line roles – director, writer or actor – and five more must work in key creative or technical crew positions. Applicants need a release strategy for both the home market and abroad. Foreign partners must take a minority stake and make a matching creative or technical contribution.
\n\nThe Minority Track is for international productions in which a Filipino producer is the junior partner. Features and series can draw up to PHP7 million ($113,000), with documentaries and shorts capped at PHP3 million ($48,000).
\n\nThe bar is lower here. Filipino producers need…
Original source: https://variety.com/