Head Gear Films establishes a $25 million fund to finance filming in Serbia
As reported by the Serbian Film Association, the London film financier Head Gear Films announced today the launch of the largest investment so far for productions that they plan to shoot in Serbia. Funding will go to projects in the executive production of Balkanic Media, a member of the SFA, founded by Jonathan English, known for the film Ironclad, and James Gibb, a producer from Los Angeles.
The fund is intended to pre-finance incentives for the Ministry of Economy of Serbia to invest in audiovisual production, which has proven to be the most favorable program of its kind in Europe, offering a return of 25% on eligible films and TV series and 30% for projects with a budget of over 5 million euros.
Head Gear was founded by Phil Hunt and Compton Ross and focuses primarily on the production of TV series and films, offering credit lines and financial services for Balkanic Media service productions, as well as for the company’s original content. Balkanic Media has already successfully produced two seasons of The Outpost series for the CW network, as well as the third season of the SEAL Team series, using the benefits of incentives offered for filming in Serbia.
“I have always wanted to expand my business to other areas, and we are building a partnership with Balkanic Media on our growing portfolio of television projects, while laying the foundations in other territories. In addition to its base in Britain, Head Gear also has offices in Australia and Los Angeles. I have known Jonathan and James from the Balkans since the mid-90s, which makes them perfect partners for an endeavor in Serbia,” said Hunt.
“Serbia offers incredible quality to the productions compared to the money invested, and we are happy to have Phil and Head Gear Films as partners. This agreement enables Balkanica to provide its clients-producers, studios and TV networks with a package of financing options, which include financing the state return on investment”, adds Gib.
“Serbia has positioned itself not only as a location for filming, but also as a reliable partner in production. The government’s incentive measures, together with low production prices, world-class studies at PFI and an extremely experienced team, make Serbia the best choice for filming in Europe,” said English. Balkanic Media is currently in the production of the third season of the TV series The Outpost, which is being filmed in the PFI studio in Belgrade, for Electric Entertainment, Dean Devlin and Arrowstorm Entertainment. The company has also produced the independent films The Deal and AI Rising.
Photo: The Outpost set in PFI studio – photo owned by Electric Entertainment and Arrowstorm – photographer: Aleksandar Letić