Film Finance Corporation Australia

Film Finance Corporation Australia
Company type	Government-owned corporation
Industry	Film finance
Founded	May 1988; 38 years ago
Defunct	July 1, 2008
Fate	Merged into Screen Australia
Headquarters	Australia
Area served	Australia
Products	Funding for Australian film, documentary, and television projects

The Film Finance Corporation Australia (FFC) functioned as a government entity that provided funding for commercial Australian film, documentary, and television projects between 1988 and 2008. Distinct from other public media organizations in Australia, the FFC operated with a commercial approach, aiming to recover a portion of its financial contributions. It backed prominent Australian films including Strictly Ballroom (1992), Muriel's Wedding (1994), and The Adventures of Priscilla, Queen of the Desert (1994). Throughout its existence, the FFC invested A$662 million across 248 feature films. In 2008, Screen Australia replaced the FFC, unifying various government film funding bodies.

History

The FFC was created in May 1988 during Prime Minister Bob Hawke’s administration and commenced activities in the subsequent fiscal year with Kim Williams serving as its first chairman. It was established as an alternative to the Australian Film Commission (AFC) and the 10BA tax incentive, consolidating government support to become the leading source of funding for film and television soon after its launch. Meanwhile, the AFC redirected its efforts toward talent development and script nurturing for culturally significant productions. Designed as a ‘film bank,’ the FFC sought to be financially self-sustaining, basing investment decisions on confirmed market commitments from distributors or sales agents to ensure projects had commercial viability.

Film and media contributions

Academy awards for FFC financed films
Year	Award	Film	Recipient(s)
1994	Best Costume Design	The Adventures of Priscilla, Queen of the Desert	Lizzie Gardiner and Tim Chappel
1996	Best Performance by an Actor in a Leading Role	Shine	Geoffrey Rush

FFC financed films screened at Cannes Film Festival
Year	Title	Director	Selection	Award Won at Cannes
1992	Strictly Ballroom	Baz Luhrmann	Un Certain Regard	Prix de La Jeunesse
1993	Frauds	Stephan Elliott	In Competition	n/a
1993	Bedevil	Tracey Moffat	Un Certain Regard	n/a
1994	The Adventures of Priscilla, Queen of the Desert	Stephan Elliott	Un Certain Regard	Prix du Publique
1996	Love Serenade	Shirley Barrett	Un Certain Regard	Camera d'Or
1997	The Well	Samantha Lang	In Competition	n/a
1999	Siam Sunset	John Polson	International Critics' Week Feature Film Competition	Rail d'Or
2003	Japanese Story	Sue Brooks	Un Certain Regard	n/a

Among the significant feature films supported by the FFC is Rabbit-Proof Fence, adapted from Doris Pilkington Garimara’s novel that portrays Indigenous Australian narratives. Other important adaptations include the crime biopic Chopper, based on Mark “Chopper” Read’s memoirs, and the television adaptation On the Beach, drawn from Nevil Shute’s novel. The original low-budget horror film Wolf Creek also emerged as a commercially successful project.

In addition to feature films, the FFC played a vital role in financing Australian children’s television dramas, helping broadcasters meet their obligations for publicly funded programming. In partnership with entities such as the Australian Film Commission, Australian Children's Television Foundation, ABC, and SBS, it was a principal backer. From 1995 to 2000, it financed 20 out of 52 children’s drama productions, covering roughly one-third of their budgets; between 2000 and 2003, it supported 15 of 33 programs. Noteworthy series include the fantasy teen drama H2O: Just Add Water, the fantasy adventure Spellbinder along with its sequel Spellbinder: Land of the Dragon, both produced internationally alongside Poland, and the science fiction show Wicked Science.

The FFC also invested in documentary filmmaking through collaborations with Film Australia and ABC. From 1990 until 2004, ABC was required to pre-purchase up to 24 hours annually of independently produced content funded by the FFC. Many of these documentaries achieved international recognition and awards. For instance, Not Quite Hollywood: The Wild, Untold Story of Ozploitation!, which explores Australian exploitation B-movies from the 1970s and ’80s, received accolades including Best Feature Length Documentary from the Australian Academy of Cinema and Television Arts and Best Documentary from the Australian Film Critics Association.

Financing by the FFC

From 2004 until June 2007, the FFC operated a dual-path funding approach for Australian filmmakers. The initial path supported projects that obtained more than 25% of their budget from private or non-governmental sources, providing automatic financing up to 45% of the total budget; these were classified as “Marketplace” films. The alternative path, designated for “Evaluation” films, necessitated market commitments such as distributor contracts and internal committee endorsement, frequently leading to higher levels of FFC funding. Although both categories achieved comparable box office performance, “Evaluation” films were more commonly featured at prominent international film festivals.

Federal Government Support

Between 1988 and 1994, the Australian federal government allocated A$337.7 million in funding through the FFC. Recoupment rates averaged 36% for feature films, 35% for television dramas, 25% for co-productions, and ranged from 6.5% to 10% for documentaries. The global acclaim of Strictly Ballroom significantly increased FFC revenue from A$8.05 million in the 1989/90 period to $18.3 million by 1992/93. Despite not achieving full self-sufficiency within the initially projected three years, the FFC remained a prominent example of government-backed film financing during Paul Keating’s administration.

International activity

Beginning in 1997, foreign markets grew in importance as financiers of Australian cinema, prompting the FFC to strengthen relationships with international sales agents. Notably, overseas investment surged in Australian children’s television drama, constituting 33% of production budgets—equal to the FFC’s share. In the 1999–2000 timeframe, international private investors contributed 64% of budgets for feature films supported by the FFC, which itself provided 20%, with remaining funds coming from Australian private sources. The FFC successfully recouped 79% of its returns through these global markets.

Dissolution

The Screen Australia Act 2008 consolidated the FFC with the Australian Film Commission and Film Australia Limited into one organization named Screen Australia, effective from 1 July 2008. This merger integrated the commercial production financing role previously held by the FFC with AFC’s responsibilities for script development and talent nurturing, alongside Film Australia’s commissioning of National Interest Programs.

External links