The next generation of the European Union’s Media Programme (2014-2020) could see a 20% increase from MEDIA 2007 levels.
The 20% hike would see the MEDIA budget rise from €755 million for MEDIA 2007 to €900 million for 2014-20. The proposed budget increase by the European Commission (EC) will be subject to approval by the European Parliament and European Council on November 23rd.
Back in July of this year, the EC had proposed a total budget of €1.6 billion for as part of its Multi-annual Financial Framework (MFF) for culture and the audiovisual industry. This budget would be used on the new ‘umbrella’ programme Creative Europe which encompasses the current Culture, MEDIA and MEDIA Mundus schemes. The EC is now proposing that 50% of the Creative Europe budget will go to MEDIA.
Audiovisual industry professionals will also benefit from the new financial instrument, which will see the European Investment Bank group providing debt and equity finance for cultural and creative industries. A budget of €180 million is being proposed for this guarantee fund.
MEDIA has supported many successful Irish film projects including Cartoon Saloon ‘The Secret of Kells’, Fastnet Films ‘The Runway’ and Newgrange Pictures feature ‘Happy Ever Afters’.
