Hong Kong’s government is introducing two new funding schemes under the Hong Kong Film Development Council (HKFDC) aimed at boosting co-productions with other Asian countries and to support the production of streaming content in Hong Kong.
The ‘Hong Kong-Asian Film Collaboration Funding Scheme’Up to HK$9M (US$1.15M), will be awarded to up to eight films that are coproduced by Hong Kong filmmakers or their counterparts in Asian nations. If the production budget exceeds grant funds, applicants can seek other investors.
The ‘Content Development Scheme for Streaming Platforms’The competition will select eight production teams that will develop series for streaming platforms. Each winning team will receive a script development fee and a total amount of HK$5.7M. They will also be eligible to strike deals for additional investment with streamers or other parties.
HKFDC currently administers the Film Development Fund (FDF), which provides support for Hong Kong films and has recently backed productions including Anastasia Tsang’s The Light Never Fails, Nick Cheuk’s Time Turns the Pages, Ka Sing-fung’s Lost Love and Eric Tsang’s Hong Kong Family. The FDF has pumped HK$1.54bn (US$196M), into Hong Kong film and film-related projects since 2005.
These two new programs will allow Hong Kong filmmakers to take part in the vibrant and rapidly expanding collaborative funding scene in Southeast Asia and Taiwan. In the last few years, several government agencies including the Singapore Film Commission (SFC), Film Development Council of the Philippines(FDCP), and Taiwan Creative Content Agency [TAICCA] have introduced funding programs that encourage regional coproduction.
Hong Kong’s HKFDC initiatives will also aid in the production and distribution of streaming content. Hong Kong has struggled to gain traction in this area as streamers around the world have focused their content investments and audience acquisition budgets elsewhere, like Japan, Korea, and Southeast Asia.
Mainland China streamers Tencent Video and iQiyi occasionally invest in Hong Kong content. But, their focus is on Mandarin-language programs, rather than Cantonese films and series, which are typically produced in Hong Kong.
“The Government and the Film Development Council continuously strive for identifying further initiatives to enhance support in new areas,” said HKFDC chairman Dr Wilfred Wong. “By encouraging co-productions by filmmakers between Hong Kong and Asian countries, the Hong Kong Asian Film Collaboration Funding Scheme will help local filmmakers broaden their global visions and learn from the creative minds of other Asian countries with a view to bringing new energy to the local film industry.”
Wong continued: “With the wide coverage of streaming platforms, the Content Development Scheme for Streaming Platforms will definitely help increase the exposures of Hong Kong productions internationally.”The eligibility requirements were also announced by HKFDC for both of these schemes.
Hong Kong-Asian Film Collaboration Funding Scheme:
· Among the three main creative positions of producer, director and screenwriter, there must be at least one Hong Kong and one Asian country film practitioner.
· Participating producers/directors/screenwriters from Hong Kong/Asian countries must be citizens or permanent residents of the respective countries and have been awarded or nominated for Best Film, Best Director or Best Screenwriter in an internationally recognised film festival or local award ceremony.
· Six of the following ten positions must have at least one Hong Kong permanent resident: Leading Actor and Actress; Supporting Actor and Actress; Cinematography; Action Choreography; Art Direction; Costume Make Up Design; Film Editing; Original Film Score/Song; Sound Design; Visual Effects.
· At least 30% of below-the-line expenditure is spent in Hong Kong.
Content Development Scheme for Streaming Platforms:
· Main creative team should include four positions: producer, script editor, screenwriter and director. All screenwriters, screenwriters, and producers must be Hong Kong residents.
· Producers and script editors should have completed at least two feature films which have been commercially released in the past ten years or two series broadcast on television or streaming platforms in the capacity of a producer or script editor.
· Director and at least one screenwriter should have completed at least one feature film which has been commercially released in the past ten years or one series broadcast on television or streaming platforms in the capacity of a director or screenwriter.