Hungarian TV, film production praised by Hollywood Reporter
With its mix of generous incentives, professional crews and state-of-the-art facilities, it’s no wonder Eastern Europe is hosting everything from art house hits (“Cold War”) to tentpole movies and high-end TV, The Hollywood Reporter commented.
The entertainment website notes that under the leadership of the late Hungarian-American producer Andy Vajna, “Hungary was the region’s pioneer, transforming its stodgy state-run film support system into a well-oiled production machine.”
Vajna died earlier this year, but the foundation he built remains, the report comments, noting that production spending in Hungary has topped USD 400 million annually since 2016.
“Budapest, the capital that can stand in for Paris, Berlin, Moscow, Amsterdam, Vienna, London or Buenos Aires, is the most popular location to shoot films in continental Europe,” notes Ágnes Havas, CEO of the Hungarian National Film Fund, pointing to a recent increase in Hungary’s tax rebate systems (from 25% to 30%) as an indication that the country remains a go-to spot for visiting productions.
Unlike the system used by some of its neighbors, Hungary’s incentives are extremely flexible and producer-friendly, allowing up to 20% of the eligible spend for the rebate to be spent outside of the country, hollywoodreporter.com notes.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.