There have been lots of changes happening at the NZFC, and in that, they’ve released their new Statement of Intent (SOI) and Statement of Performance Expectations (SPE).
Additionally they have raised the standard funding cap on Feature Film Production Investment from $2 million per film to $2.5m. Great news!
For the financial year 24/25 The Ministry for Culture and Heritage has confirmed NZFC baseline funding of $5,195,925. This equates to the FY23/24 baseline of $5,401,000 reduced by 7.5%, plus an additional allocation of $200,000 for the administration of the domestic rebate.
The Lottery Grants Board funding has been confirmed at $22,875,140 per annum for the next four years. This funding is 3.4% less than in FY22/23 ($23,681,061). This change follows negotiations with the Lottery Grants Board on a new funding methodology which meets the revised legislative framework.
There have been two key changes to the Producer International Travel Fund (PITF), and NZFC international travel fund to ensure the funding that is available goes as far as it can and achieves the strongest possible outcomes.
- Reduction in the annual allocation of PITF for FY2024/25 from $200,000 in the last financial year, to $150,000 in the coming year.
- NZFC no longer funds filmmaker travel to Australia via the PITF or other NZFC international travel funding sources.
Lastly – there are no development deadlines on 22 July to allow NZFC time for all these changes.