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The cinematographic market has been integrated by elements such as those that have to do with the way in which media brands stand out in cinema.
We saw a resource of great value in the market with Netflixas warned by Omar Carrasco.
There are activities of great weight in the market and among these activities the understanding of the consumer turned into an audience is striking.
Omar Carrasco, CEO of Xperience Makerswas presented at the last film festival of Cannes where he announced together with UCLA, a venture capital fund with which he seeks investment in independent projects and obtain investments for projects within Latin America, as well as in Europe, Asia and the United States.
As part of his participation in this edition, Merca2.0 asked Carrasco how the lack of state support affects the creative film industry and the results are important, as it allows us to see that the projects that persist are the ones that are best developed.
Merca2.0 – Do you have an estimate in percentage of how many tapes have been lost due to the lack of state support and the limited participation of Private Investment?
We do not have a percentage since creators who do not receive support do not register or publish said limitation. However, considering that these people do not find immediate financing, but they look for it until they find it and considering the total investment market in independent film and television at a global level, I can give you the following specific data:
PwC estimated in 2020 that the film and television industry attracts investment from private equity firms and investment funds with a global investment of approximately thirty billion dollars. Of these, it is estimated that 5.7 billion dollars are invested in Latin America.
To give you a real idea, did you know that the popular series of Netflix Stranger Things” was rejected 15 times before obtaining external financing in order to arouse the interest of Netflix? Similarly, Squid Game of Netflix he struggled to secure financial backing for over a decade after finally obtaining the rights.
The independent creators behind these greatest hits had the vision, wit and experience to weave compelling narratives, but required additional financial support and expertise to raise funds. We aspire to merge the Venture Capital ecosystem into the financing ecosystem in hollywoodbridging the gap between independent creators, investors, distributors and exhibitors.