January 28, 2021

Skydance Media Closes $1 Billion Credit Facility (variety.com)

Skydance Media has closed a four-year, $500 million revolving credit facility led by J.P. Morgan.

The company says that it has the ability to expand that facility to $1 billion and also said that it plans to use the money to support corporate operations as well as production and development. Skydance previously closed a $700 million round of new financing in 2016 with J.P. Morgan.

Skydance, which has financed or co-financed the likes of “True Grit,” “6 Underground,” “Gemini Man,” “Jack Reacher” and several “Mission: Impossible” sequels, is hoping to use some of the money to back its moves into animation and television.

Skydance President and Chief Operating Officer Jesse Sisgold closed the facility in collaboration with Skydance CFO Larry Wasserman. Other partners involved in the facility include Comerica, Bank of America, Truist Bank, Union Bank, Bank Hapoalim, CIT Bank, East West Bank, Fifth Third Bank, California Bank & Trust, Citizens Bank, Bank of Hope, and Preferred Bank.

By: Brent Lang

Continue Reading at variety.com

Major companies in the film and video market include Time Warner; CBS Corporation; Sony; Walt Disney and Twenty First Century Fox. The global film and video market is expected to grow from $234 (globenewswire.com)

91 billion in 2020 to $251.92 billion in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $318.23 billion in 2025 at a CAGR of 6%.

The film and video market consists of the sales of entities (organizations, sole traders or partnerships) that produce or distribute motion pictures, videos, television programs, or commercials, exhibit motion pictures or provide postproduction and related services. The film and video market is segmented into film and video production; film and video distribution; post-production services; film and video theatres and other film and video industries.

By: Reportlinker

Continue Reading at globenewswire.com

THE FUTURE OF FILM IN THE POST-COVID ERA (vfxvoice.com)

In March 2020, the escalating international situation brought on by the coronavirus pandemic resulted in governmental work-from-home mandates to prevent the spread of the disease. As the film industry slowly recommenced productions last August, protocols were implemented that will continue to evolve.

Special Effects Supervisor Chris Corbould (No Time to Die) isn’t sure whether the ramifications of COVID-19 will have a lasting impact. “It is difficult to say, at the least; however, I am determined that this horrible virus will not stop us from providing spectacular films that will make us forget the events of 2020. I am currently fighting to make filming a viable process, as it used to be, but also providing film fans with a relief from some heartfelt tragedies.”

In the meantime, changes will be implemented to counter the impacts of the virus on the industry. “COVID-19 and social distancing are going to inform everything in our business until we get a handle on it, including set design and location selection,” notes Production Designer Scott Chambliss (Star Trek Into Darkness).

By: Trevor Hogg

Continue Reading at vfxvoice.com

Frazier & Deeter Achieves California Film & TV Tax Credit Program Milestone (wfmz.com)

ATLANTA, Jan. 28, 2021 /PRNewswire-PRWeb/ — Frazier & Deeter, one of the nation’s largest accounting and advisory firms, announced today the firm is now eligible to perform Agreed Upon Procedures (AUPs) related to the California Film Tax Credit.

Frazier & Deeter’s entertainment CPAs have completed the California Film Commission training regarding program requirements and AUPs reports for Tax Credit Program 3.0, making the firm the only Entertainment CPA firm in the Southeast with eligibility in California.

“Frazier & Deeter is excited about this benchmark for our Entertainment Practice,” said Charli Traylor Tax Principal at Frazier & Deeter. Traylor, the leader of the firm’s Entertainment Practice, noted, “Our goal is to help our film and TV clients comply with state guidelines wherever their projects are undertaken, and our eligibility under the California Film Tax Credit Program will help us serve our clients more broadly.”

By: Frazier & Deeter

Continue Reading at wfmz.com

Georgia’s film and video production bouncing back due to stronger COVID-19 protocols (wsbtv.com)

DeKalb County, Ga. — It’s been a long struggle, but those involved with Georgia’s TV and movie productions say the industry is beginning to spring back to life within the state.

Channel 2 Anchor Jovita Moore spoke with Ryan Millsap, the CEO of DeKalb County-based Blackhall Studios about the reasons why he sees the industry beginning to recover from the pandemic-induced shut down.

“You know, it’s going incredibly well. The Producers Guild who put together all of the COVID protocols has done an incredible job keeping everybody safe and healthy. The transmission rates inside the industry as a whole are under 1%, which has allowed the production crews to keep cranking,” Millsap said.

Millsap said everyone involved with productions here in Georgia has a stake in keeping things operating safely.

By: WSBTV.com News Staff

Continue Reading at wsbtv.com