Sunday, May 20, 2012

The Allure of Free Money

This was almost inevitable ...

Digital Domain, the award-winning visual effects company behind the blockbuster “Transformers” films and “Tron: Legacy,” is expanding into the Middle East with plans to open a 150,000-square-foot production studio in Abu Dhabi in 2015.

Parent company Digital Domain Media Group, of Port St. Lucie, Fla., said Sunday night that it was partnering with Abu Dhabi government-backed media and entertainment company twofour54 to build a studio that would create English- and Arabic-language animated movies targeted at Middle Eastern audiences, as well as produce visual and 3-D effects. The project also would include a media school run by Digital Domain, similar to one it operates in West Palm Beach, Fla.

The studio will employ more than 500 people and cost more than $50 million to build. The government of Abu Dhabi, the capital city of the United Arab Emirates, will partly subsidize the project.

Following this:

Abu Dhabi’s twofour54 and the Abu Dhabi Film Commission are launching a production rebate from September 1, marking the first major incentive scheme in the Middle East.

The incentive, in the form of a rebate of up to 30% of qualifying spend in Abu Dhabi, will be available for feature film, TV, documentary, advertising and music video production. ...

Nothing like a fat money enticement to get more movie production into the country.

Now. If Digital Doman can just railroad a bunch of U.A.E. film students into paying for the privilege of working at the soon-to-be facility, they'll be all set.


Chris Sobieniak said...

Funny thinking Abu Dhabi is getting this much attention lately, oh well, it's certainly in a different place than what I thought it was as a kid.

Site Meter