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go through the same routine, and something good may come out of it. Modest budgets do not have to mean bad films, in fact if we're very realistic about the whole thing, and the unions cooperate to aid the advance of the smaller budget film, then we might even make some damn good films. Thinking practically, a producer should be able to recover the cost of his production, plus some profit from the country of origin. Generally speaking if a Canadian producer recovers 15% of his cost from Canada he would be doing alright, which means that for the domestic market he must include the United States to help recover costs. Of course, if you have a real winner there are always exceptions to the rule, but it doesn’t pay to bank on them, and certainly if you do have one it'll make money home and away.
Another point under much discussion is how will producers qualify for such aid if and when the windfall comes? Will the Government foot the bill for the total cost of any of the productions? Not on your life. If they are to follow any sort of a pattern, they would only assist a producer when he has a sizeable distribution guarantee and can find additional financing to cover up to 75% to 85% altogether. At this stage a loan from the fund might become possible for the balance. Then of course another snag arises: no distributor hands out money. He might give a discountable guarantee, but in order to get this the producer has to get himself a completion guarantee, without which the former would not be effective. Who in Canada will give that kind of insurance, because that is just what a completion guarantee is. The distributors’ money cannot be touched unless the film is completed. Who then comes to the rescue of the ‘on the rocks’ producer. Remember the Panavision-Eastmancolor fiasco ‘Ten Girls Ago’? There are.many sorry investors around who got caught up in that one. If you’re one of them I can tell you there will not be one cent in the dollar coming your way. Here was a production that was dreamed up by an American without knowledge of film finance, or without any record as a producer. A public company was floated and the investors rushed in to throw away a quarter of a million dollars, and the partially finished Canadian pic remains in the vaults of a New York lab, where it will remain unless somebody out of their mind wants to get it out of hock. The film had no distribution deal or com
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