As the entertainment industry comes to terms with the new normal of COVID-19, one Maltese film production company has outlined what the future of film could look like on the island.
The Producer’s Creative Partnership has identified six key areas that need attention over the next five years if Malta wants to remain a competitive destination for filming.
Most evidently, PCP points out that Malta will see far less medium to large productions shoot on the island except when it comes to shooting in Visual Effects Units (VFX).
As such, Malta’s Special Effects (SFX) water tanks will be in far less demand and could “render the tanks unsustainable” unless a solution in the form of a public-private enterprise is introduced to keep them afloat.
“Without professional, cost-efficient management and essential maintenance, two equally crucial factors, the water tank facility will lose business and struggle to survive,” they said.
On the other hand, Malta has a shot at salvaging its film industry if it focuses on certain areas.
Most notably, increasing crew members so that medium-sized projects can be crewed up locally by providing them with government incentives including “lower income tax rates, government grants that cover at least 50% of the costs for film courses both locally or abroad.”
PCP also emphasised the importance of Malta’s two sound stages in maintaining a sustainable filming activity coupled with the need for more tax incentives for Maltese film companies. The PCP also believes the high 40 percent cash rebate to incentive foreign produce will become unsustainable.
“The percentage will have to be lowered substantially but this should have no big impact on the film economic activity in Malta if local crew numbers are reinforced, sound stages are built and priced fairly, and if the local film infrastructure is more solid and able to compete with foreign prices.”
With the landscape of film making undergoing a rapid metamorphosis like never before, Malta must either “jump on the bandwagon or else sit on the side and take its chances.”
Tag someone who works in the film industry