The Philippines has taken significant steps to enhance its International Co-Production Fund (ICOF) by adding a new dual-track system, unveiled at the Asian Contents & Film Market portion of the prestigious Busan International Film Festival. This restructured framework aligns the funding amount with the level of Filipino participation in each project, providing greater incentives for local producers.
Majority and Minority Tracks Defined
Under the new ICOF framework, the Majority Track is designed for projects led by Filipino producers in collaboration with foreign partners. Eligible feature films and series can secure funding of up to PHP13 million (approximately $210,000), while documentaries and short films can access funding up to PHP5 million (around $80,000).
To qualify for the Majority Track, the Filipino production team must maintain at least a 20% ownership stake and be the largest shareholder among the co-producers. Additionally, a minimum of two key roles in the project must be filled by Filipino talents—such as director or lead actor—and five more must be occupied by Filipinos in key creative or technical positions. Furthermore, applicants must present a marketing strategy for both the local and international markets. Foreign partners in this track are required to hold a minority stake and contribute creatively or technically to the project.
Incentives for Minority Productions
The Minority Track caters to international productions where a Filipino producer acts as the junior partner. Projects in this category can receive funding of up to PHP7 million (approximately $113,000) for feature films and series, with a cap of PHP3 million (around $48,000) for documentaries and shorts.
The eligibility criteria for the Minority Track are slightly more lenient. Filipino producers must have a stake of at least 10%, and the production must include either two Filipino talents in above-the-line roles or three Filipino crew members in key creative or technical jobs. As with the Majority Track, applicants also need to demonstrate how they intend to engage audiences outside the Philippines.
Additional Funding Options and Cultural Incentives
Both tracks offer potential top-ups; qualifying ASEAN co-productions can receive an additional PHP1 million (about $16,000), and projects passing a cultural test can earn up to PHP2 million (approximately $32,000) more. It is noteworthy that the dollar amounts may fluctuate based on exchange rates.
Role of the Film Philippines Office
The Film Philippines Office (FPO), which operates under the Film Development Council of the Philippines (FDCP), is responsible for administering these international co-production incentives and supporting line and post-production efforts. The FPO also aids filmmakers with endorsements for government permits and offers location referrals, further enhancing the production environment in the country.
Success Stories from ICOF
Several films supported by the ICOF have garnered acclaim at various festivals. Notably, Tommy Ng Ka Chung’s animated feature “Another World,” co-produced by Filipino company Overmind Corp with partners from Hong Kong and Singapore, won the Best Animated Feature award at the 62nd Golden Horse Awards. Similarly, Janus Victoria’s “Diamonds in the Sand,” which involved Japanese and Malaysian co-producers, clinched the Mulberry Award for Best Debut Film at Udine’s Far East Film Festival.
In addition, Marianne Métivier’s “Elsewhere at Night” received the Best Screenplay award at the Torino Film Festival, while James J. Robinson was recognized as the Best Australian Director at the Melbourne International Film Festival for his work on “First Light.” Mouly Surya’s “This City Is a Battlefield” also found success, winning Best Cinematography at the Bandung Film Festival.
The FPO’s Film Location Incentive Program has been instrumental in backing talented filmmakers, evidenced by Rafael Manuel’s “Filipiñana,” which earned a special jury award for creative vision at Sundance’s World Cinema Dramatic competition, and Morgan Knibbe’s “The Garden of Earthly Delights,” which won Best Film at Torino.
