For those who are interested in the finances behind the making of The Hobbit trilogy, here’s a news story from the NZ Herald about the subsidies that Warner Brothers received (thanks to ringer Ataahua for the link):
New Zealand taxpayers put up an “extreme” amount of money to get the Hobbit films made here – and the real winner was Warner Bros, the Green Party says. The Government has defended the spending of close to $200 million as having wider benefits – including more than one in ten visitors citing the movies as a reason they became interested in visiting.
The latest statements for Warner Bros Entertainment’s New Zealand subsidiary, 3 Foot 7, show the firm received a large budget screen production grant of $38.3 million in the 12 months to March 31 this year. That adds to the $54.6 million it received in the 2014 year, $31.3 million in 2013, $46.9 million in 2012 and $20.2 million in 2011. Across the five years, production costs amounted to around $1.1 billion, meaning the Warner Bros unit has claimed about 17 per cent of total costs under the grant.
Green Party finance spokeswoman Julie Anne Genter said the level of taxpayer money stumped up was “pretty extreme”. Read More…
