Latest news with #VIPO
Yahoo
27-03-2025
- Business
- Yahoo
Japan Extends 50% Cash Rebate Program That Lured Apple TV+'s ‘Monarch' Series
Japan's Ministry of Economy, Trade and Industry has extended its production incentive program through 2025, maintaining its eye-catching 50% cash rebate on qualifying expenditures. The move continues the momentum of Japan being promoted heavily as a filming location, which was evident at last November's Tokyo International Film Festival. More from Variety Seth Rogen Reveals Ridley Scott's Pitch for the 'Monopoly' Movie as 'The Studio' Cast Shares Crazy Hollywood Notes: A Photographer Said, 'You Have a Terrible Body for Clothes' Jessica Chastain, Adam Driver to Star in Apple Series 'The Dealer' 'Severance' Renewed for Season 3 at Apple TV+ The Visual Industry Promotion Organization (VIPO) and Japan Film Commission confirmed on Thursday that the incentive program, which selected 10 international productions in 2024, including Apple TV+'s 'Monarch: Legacy of Monsters Season 2,' will run from March 27, 2025, to Jan. 31, 2026. The incentive applies to half of all qualified spending on production and post-production costs incurred in Japan after a project's official selection. The program caps rebates at JPY1 billion (approximately $6.6 million) per production. To qualify, international projects must meet one of three financial thresholds: direct production costs in Japan exceeding JPY500 million ($3.3 million); total production budget over JPY1 billion ($6.6 million) with at least JPY200 million ($1.3 million) spent directly in Japan; or projects set for distribution in more than 10 countries with minimum direct Japan expenditures of JPY200 million. Applications must come through Japanese production companies or consortiums, as overseas entities cannot apply directly. The program will accept submissions in four rounds throughout 2025, beginning immediately with the first application window running through April 10. The initiative further stipulates that qualifying productions must benefit Japan's domestic content industry through local employment and studio utilization, and that 'scenes shot in Japan are absolutely guaranteed.' Projects must also allow overseas filmmakers to cooperate in promoting filming locations. An exception clause notes that projects failing to meet financial thresholds might still qualify if they 'greatly benefit the Japanese economy and domestic film industry,' with decisions made by an external examination committee. The project completion date must be set within 90 days of work completion or Jan. 31, 2026, whichever comes first, with direct expenses related to film production in Japan eligible for funding. Applications will be processed by VIPO with the Japan Film Commission serving as program coordinator. The program may conclude early if the allocated budget is exhausted before all four application rounds are completed. Best of Variety New Movies Out Now in Theaters: What to See This Week The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins Oscars 2026: First Blind Predictions Including Timothée Chalamet, Emma Stone, 'Wicked: For Good' and More
Yahoo
27-03-2025
- Entertainment
- Yahoo
Japan Extends Rebate Scheme Through 2025; ‘Monarch: Legacy Of Monsters S2' Among Projects Approved In 2024
Japan's Visual Industry Promotion Organization (VIPO) and the Japan Film Commission have announced that the country's 50% rebate scheme, aimed at attracting international productions, will be extended through 2025. Administered by Japan's Ministry of Economy, Trade and Industry (METI), the scheme had selected ten projects by the end of 2024, including Apple TV's Monarch: Legacy Of Monsters Season 2. More from Deadline 'Monarch: Legacy Of Monsters' Composer Leopold Ross On Creating Monster Hits For Godzilla Series - Sound & Screen TV Kurt Russell Says Son Wyatt's Acting On 'Monarch: Legacy Of Monsters' Forced Him To Bring His Own A-Game - Contenders TV 'Monarch: Legacy Of Monsters' Renewed For Second Season By Apple TV+; Multiple Spinoffs Planned In 2025, the scheme remains mostly the same, but the number of application periods have been increased from three to four, with the first period running from March 27 until April 10. Aimed at large-scale international film and TV projects, the scheme offers a cash rebate of up to 50% of the costs incurred during production and post-production in Japan. In order to apply, projects need to have a Japanese production partner and fall into one of three categories – either have direct production costs in Japan exceeding $3.3M (JPY400M); have total production costs of more than $6.6M (JPY1BN) and direct production costs in Japan exceeding $1.3M (JPY200M); or be projects that are scheduled to be released, broadcast or distributed in more than ten countries with direct production costs in Japan exceeding $1.3M (JPY200M). Other productions to have received the rebate include Searchlight Pictures' Rental Family, starring Brendan Fraser, and Neuromancer, adapted from the William Gibson novel and produced by Anonymous Content and Skydance Television. Max/Fifth Season's Tokyo Vice, which filmed two seasons in Japan from 2020-2021 and 2022-2023, served as a test case for the incentive, which was officially launched in late 2023. Best of Deadline Which Colleen Hoover Books Are Becoming Movies? 'Verity,' 'Reminders Of Him' & 'Regretting You' Will Join 'It Ends With Us' Everything We Know About Amazon's 'Verity' Movie So Far Everything We Know About Paramount's 'Regretting You' Adaptation So Far
