The SPD and CDU/CSU parliamentary groups in the German Bundestag, together with the Federal Government, have reached an agreement on an investment pact for Germany as a film production hub. This long-awaited agreement allows the annual federal film funding budget of €250 million to be released.
Joerg Bachmaier, CEO of Studio Babelsberg, comments: “This is a very good day for Germany as a production hub. The agreement on the investment obligation and the doubling of film funding to €250 million provide a strong boost. German studios, producers and service providers now have a positive outlook and long-term planning certainty.
This strengthens Germany’s position in international competition, secures highly skilled jobs and stimulates further investment. Following the initial increase of the funding rate to 30 percent, Studio Babelsberg has already succeeded in attracting several international and local productions to the lot. Based on the measures now adopted, we expect a sustainable increase in production activity and a strong innovation impulse – not only for our studio, but across many regions and sectors of the German film industry.
We would like to thank Minister of State for Culture and Media Dr. Wolfram Weimer and all parties involved for this ‘booster’,̈ that lays the foundation for Germany to once again become one of Europe’s leading production hubs.”
