The newly established Bole Film (伯樂影業), a joint venture of the Taiwan Creative Content Agency (TAICCA) and Good Hands Film (推手影業) , announced in a press conference on March 29 that the company will participate in seven film projects, providing production fund up to NT$10 million per film, in order to boost Taiwan's film and television industry.
Bole Film was established in February this year, funded by TAICCA with NT$98 million, through the third phase of the National Development Fund, and NT$102 million by Good Hands Film, which is formed by Taiwan’s four top cinema exhibition chains, including VIESHOW Cinemas, Showtime Cinemas, Ambassador Theaters, and SKCINEMAS.
With a capital amounting to NT$200 million, Bole Film focuses on investment, production and distribution of domestic films. TAICCA aims at integrating the resources and finances of local film and TV industries by targeting film IPs with Taiwanese elements and providing complete support from development, filming, distribution to marketing.
The four major cinema exhibition chains grossed more than 70% of the total box office revenues of Taiwan's film market. Bole Film plans to use existing box office data to carry out big data statistical analysis on consumer orientation for the reference of film industry in developing movie themes that meet market demands.
In terms of capital investment, as creativity incentive, Bole Film plans to provide up to NT$2 million per film as incubated fund. The company will work out revenue plan in the early stages of production so that the production team may make adjustments at any moment.
For medium-sized domestic films with a total budget under NT$60 million, Bole Films will invest up to NT$ 10 million per film. The goal is to deliver three to five Taiwanese films each year, and drive domestic and foreign capital to invest in Taiwan's film and TV industry.
Minister of Culture Lee Yung-te hopes that Bole Film will help forge a complete industrial chain, and increase the international visibility of Taiwanese films.