UK-based Fintage House, which provides financial services to the entertainment industry, has reached an agreement with InternetStudios under which it will handle all financial transactions for the company's OnlineFilmSales web-site.
Fintage's e-safe service, launched at Cannes, will handle all transactions resulting from sales and acquisitions of film and TV rights on the InternetStudios site. Headed by Robbert Aarts, e-safe provides collection account management, both on-line and off-line, and is targeted at producers, sales companies, distributors and other entertainment companies.
Aarts explained: "In speaking with our numerous sales agents and producer clients we concluded that it was in their interest that we expand our traditional Collection Account Management activity to cover the area of internet sales. They will want to ensure that monies which are paid by buyers as a result of such transactions are firstly delivered to a reputable third party such as Fintage House, and secondly that the revenues are released as soon as delivery of the film materials are effected."
The move marks the first stage of Fintage House's internet activity. The company also deals with off-line collection account management along with film and television distribution and licensing; licensing and endorsement contracts under its talent division; and music and secondary rights collection. The company has offices in the Netherlands, Hungary, Japan, Australia, Spain and the US.