CAA's Roeg Sutherland: Film Financing Has More Money Than Ever
At the Zurich Summit, CAA's Roeg Sutherland said private equity from the Middle East, Asia and Europe is fueling record film financing as studios cut development.
There is more money available for film financing than ever before, according to Roeg Sutherland, co-head of CAA's media finance department and its international film group. Speaking at the Zurich Summit, Sutherland attributed the surge partly to a rise in private equity, with equity flowing in from the Middle East, Asia and Europe.
That shift is changing how European filmmakers work. Sutherland said they can no longer rely solely on government subsidies and need equity to get projects made. At the same time, traditional studios have pulled back from investing in development, leaving a gap that private capital is filling.
CAA's own slate reflects the trend. Sutherland said the agency financed Jacques Audiard's Emilia Pérez and Cristian Mungiu's Fjord, and sold Javier Ambrossi and Javier Calvo's La Bola Negra for more money than an American movie. It also sold Curry Barker's Obsession before the film became a box-office phenomenon.
Audience habits are shifting too. Sutherland said American viewers now watch international content with subtitles, pointing to Squid Game as evidence. Variety reported his remarks from the Zurich Summit.
Quick answers
What did Roeg Sutherland say about film financing?
The CAA co-head said there is more money available for film financing than ever before, partly due to a rise in private equity from the Middle East, Asia and Europe.
Which films did CAA finance or sell?
CAA financed Jacques Audiard's Emilia Pérez and Cristian Mungiu's Fjord, and sold Curry Barker's Obsession and Javier Ambrossi and Javier Calvo's La Bola Negra.
Why do European filmmakers need equity now?
Sutherland said they can no longer rely solely on government subsidies, while traditional studios no longer invest in development.