.png?width=739&name=MicrosoftTeams-image%20(31).png)
International
Filming in the Czech Republic: Incentive Reform to Lure International Productions
At the Karlovy Vary Film Festival, the Czech Republic announced their plan to win back international productions. In the past, the country offered a competitive 20% rebate, but the program shut down in 2022 after major productions used up all available funds. Under the new incentive program, these productions need to spend their budgets before they receive their rebates. The production sector is growing, with $687 million spent in 2022, and if the incentives amendment passes, experts believe international production will continue to pick up.
Box Office
Global Quarter Recovery: Q2 2023 Hits New High Since 2019
The global film industry is looking great going into the third quarter of 2023, showing signs of a strong box office recovery. Last quarter, the box office reached $8.6 billion, which is 10% higher than Q1 numbers, and the biggest box office haul since 2019. June alone generated $2.9 billion thanks to the US studios releasing at least one global film each week. The three biggest movies at the box office this past June were Spider-Man: Across The Spider-Verse, Transformers: Rise Of The Beasts, and The Flash.
Industry
IASTE Talks Technology: Industry Union Shares Their Core Principles for AI
The International Alliance of Theatrical Stage Employees (IATSE) has shared a set of core principles to guide the use of artificial intelligence (AI) technology in the entertainment industry with the aim to address concerns about job displacement and labor rights while embracing the potential benefits of AI. While IASTE supports further research and technological advancements that can enhance the work of members, the core principles are focused on job stability and supporting their members by asserting the right to training regarding the usage of new technologies.
Sports
Into the Metaverse: Major League Baseball Becomes First Sport to Go Virtual
On July 8, Major League Baseball will launch the first-ever “virtual ballpark,” which will livestream their Saturday game while also offering fans new and unique opportunities for social interaction. Created by Improbable, a UK-based virtual reality company, the experience will be web-based only and will allow fans to play mini-games and create a personalized avatar, all while watching the MLB All-Star Celebrity Softball Game.
Film Festival
Edinburgh Ahead: One of the World’s Oldest Film Festivals Continues
The Edinburgh Film Festival returns this year for a scaled-down installment that will run from August 18 to 23. Festival owner, the Centre for the Moving Image (CMI), appointed administrators last year, and festival venue, Edinburgh Filmhouse, was sold to an independent operator a few months ago. Since then, Screen Scotland, the national funding body, acquired the intellectual property rights to the festival and a new venue partner has been announced. The full lineup includes over 25 features and a collection of animated and documentary short films.
High five! Another Friday Five is going live next week—same time, same place. We know what caught our eyes, but we’re all ears. Tell us what you’d like to learn more about in our upcoming editions by following us on Facebook, Twitter, and LinkedIn. Be sure to tag #FridayFive in your comments.
Want an even more convenient way to stay in the know? Get Friday Five sent right to your inbox each week by signing up for our direct newsletter below.
See you next Friday at 10 a.m. (PT).
