TV and film production incentives in three Russian regions may pave the way for national system

Three Russian regions are set to introduce tax rebate programmes for film and television productions from 2017, sparking anticipation of a broader national system of incentives.

The first regions to offer the incentives will be Kaliningrad, an exclave sandwiched between Poland and Lithuania; Primorsky Krai in the Far East; and Astrakhan in the south of the country.

Although the incentives are open to both local and foreign producers, as the amount slated to be spent on rebates in 2017 stands at just 60 million rubles (just under $1 million), it is expected that local or independent productions from the USA and Europe, rather than Hollywood blockbusters, will benefit most from the programme.

News agency TASS quoted Russian Culture Minister Vladimir Medinsky as saying that the success of attracting The Lord of the Rings to New Zealand served as inspiration for the decision.

Could this initiative help to reverse the fortunes of Russian filmmakers, whose films of late have had a poor showing at the box office?

Source: The Hollywood Reporter