The French industry is bracing itself for the impact of Canal+’s reduced investment in French cinema over the next three years that it is estimated will result in some 30 to 40 less films made a year, mostly auteur-driven European co-productions.
“Producers are starting to realise what is ahead,” said Manuel Alduy, head of cinema at France Televisions. “We are worried there will be a real drop in the number of “middle films”, films with budgets between €4-6m.”
Canal+ is the partner of choice to support films from visionary auteurs and emerging talents, known as ‘diversity films’ in France.
“This reduction in investment is extremely worrisome for us as independent producers,” says Julie Billy co-founder with Naomi Denamur of June Films whose upcoming film Fanny Liatard and Jérémy Trouilh’s Green Eyes is financed by Canal+.
“A reduced investment will inevitably have an impact since films don’t cost less, inflation is continuing. If Canal+ doesn’t swoop in to support first and second films, films with a daring auteur vision or without recognisable cast, we risk losing diversity.”
Producer Edouardo Sosa Soria of Paris-based La Feline added: “It’s a tragedy because filmmakers will not be born.”
Canal+ has pre-financed a slew of films at this year’s Cannes Film Festival including competition titles Alpha, Vie Privée and Case 137.
It is reducing its investment to €480m over the next three years from more than €600m between 2022-2024.
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