Wales Creative IP Fund makes first investment in soundtrack for
new Matthew Rhys film
28/07/09
The Wales Creative IP Fund has taken its first stake in a film
soundtrack after investing in Matthew Rhys’ latest feature film,
Patagonia, which has received additional funding from the Film
Agency for Wales.
The IP Fund’s £120,000 equity stake in the film production is
its first investment to include rights to revenues generated from a
production’s soundtrack.
Patagonia, which stars Rhys alongside Nia Roberts, is a
dual-language production set in Welsh Patagonia (Argentina) and in
Wales. The story follows the parallel lives between a 30-something
Welsh couple who have travelled to Argentina to reassess their
relationship and an elderly Welsh-Argentina woman, who is making
the opposite journey, with a younger companion, to northern
Wales.
The film, written by Laurence Coriat and Marc Evans, is produced
by Rebekah Gilbertson and Flora Fernández-Marengo. Rhys previously
worked with Gilbertson on The Edge of Love.
Filming has taken place in Patagonia and locations throughout
Wales. At least £322,000 of production costs will be spent in
Wales.
“Patagonia is unique for the IP Fund in that it is the first
production in which we have invested not only in the film itself
but in the associated soundtrack as well. We believe the soundtrack
will be outstanding and unique,” said Bethan Bannister of the IP
Fund.
“In addition, Patagonia – shot in the haunting desert wastes of
Chubut and in the green foothills of the Andes, not to mention key
locations the length and breadth of Wales – has all the makings of
a outstandingly rich visual production.”
Managed by Finance Wales plc on behalf of the Welsh Assembly
Government, the Wales Creative IP Fund provides equity investment
for feature films, television productions, new media and music
projects. A condition of the Fund’s investment is for a proportion
of the production’s total budget to be spent directly in Wales. The
investment also ensures that the IP Fund benefits from any returns,
which are re-invested in future creative projects in Wales.
The Film Agency for Wales has provided £200,000 funding towards
the production, which has also received support from the Wales
Screen Commission. The Commission provided logistical and liaison
support, assisting with scouting locations, reconnaissance visits,
and liaising with location owners.
Pauline Burt, Chief Executive of the Film Agency for Wales, has
said: “The Film Agency was particularly compelled to support this
project, with its attractive pairing of key talent, throughout its
development phase and on into its production.
“We were presented by a dynamic and persuasive producer and an
accomplished, versatile, and masterly director in Marc Evans, who,
with long-term vision, partnered Patagonia Productions. In turn,
they have developed a beguiling, emotional drama that enabled them
to attract accomplished great actors. The emotional resonance
should cross borders and appeal to audiences far and wide.”
Other financiers backing the film are S4C, Pepper Post,
Universal Music, JC Trust and Grenville Thomas. The sales agent is
The Little Film Company.
Welcoming the investment and funding from the Wales-based
organisations, producer Rebekah Gilbertson said: “A producer
struggles for months finding and developing an idea. You partner
with a writer and director, raise seed money for developing a
script. Then you begin location finding and casting. After all this
comes the make-or-break moment when you make a presentation for
raising the funds so that your picture can be made.
“If you have done your work, you can begin bringing serious
money to bear, but the effort is exhausting and in the end your
efforts are never enough. Then, just when you think you may have to
throw in the towel, along come investors like the Welsh Creative IP
Fund and organisations such as the Film Agency for Wales, who
recognise what you are trying to do and lend you the helping hand
that makes all the difference. Marc Evans, myself, our cast and all
the production team cannot thank them enough for making our dream a
reality.”
Media enquiries
E-mail: communications@financewales.co.uk
Telephone: 029 2033 8126