Philippines Overhauls Co-Production Fund at Busan Market
The Film Philippines Office introduced Majority and Minority tracks, with up to PHP13 million ($210,000) for feature films in the top tier.
The Film Philippines Office unveiled a revamped International Co-Production Fund at the Busan International Film Festival's Asian Contents & Film Market, according to Variety. The fund is divided into a Majority Track and a Minority Track, with support levels determined by the size of the Filipino stake in each project.
Under the Majority Track, feature films and series can receive up to PHP13 million ($210,000), while documentaries and shorts are eligible for up to PHP5 million ($80,000). To qualify, the Filipino side must own at least 20% of the production and hold the largest share among all co-producers.
The Minority Track offers up to PHP7 million ($113,000) for features and series, and up to PHP3 million ($48,000) for documentaries and shorts. Applicants in this tier need a Filipino stake of 10% or more.
Both tracks include additional incentives: an extra PHP1 million ($16,000) for qualifying ASEAN co-productions and up to PHP2 million ($32,000) more for projects that pass a cultural test.
Quick answers
What is the maximum funding for a feature film in the Majority Track?
Up to PHP13 million, equivalent to $210,000, for features and series.
What is the minimum Filipino stake required for the Minority Track?
A Filipino stake of 10% or more.
Are there extra incentives for ASEAN co-productions?
Yes, both tracks offer an additional PHP1 million ($16,000) for qualifying ASEAN co-productions.