Film completion guarantor Film Finances Inc. has announced its desire to move into the video game market, intending to popularize game completion bonds, an alternative funding and guaranteeing method for making games.
In the film industry, major studios such as Warner, Dreamworks, Sony and Fox guarantee payment upon completion for mainstream films, which are then separately bond financed through arms-length production companies, with which the studios have close ties. Major studios thereby bond finance a large portion of their annual output.
An official FFI statement explains: "Our goal in the video game industry is to institutionalize the use of project finance and risk sharing tools proven in other media. By applying this funding model to the video game industry, we assist both publishers and developers to access alternative sources of production funding and to establish better “win-win” risk/reward partnerships."
As for the company's background, Film Finances Inc. was founded in 1950, and provides financiers worldwide with guarantees of completion for film, TV and video game projects. FFI provides completion bonds for more than 200 entertainment productions per year representing more than $1bn in aggregate production budgets.
In relation to this, Film Finance Inc will speak at a breakfast which is open to all interested GDC attendees on Monday March 7th from 9-10 am. The event will open the Game Connection at the Hotel Nikko, Big Sur Room, 222 Mason Street in San Francisco. For more information contact Marc Jackson at
[email protected].
