Exclusive: Isle Of Man Mark V2 – Break-out territory to usurp IOM’s film production monopoly

You may recall that the Isle of Man was (and still is) a prime shooting destination for film and television productions due to tax incentives. Take a look at the movies that have shot there receently; The Disappearance of Alice Creed, Me and Orson Welles, The Cottage.

In the past, the investment group that discovered the tax and legislation loopholes, capitalized on them and purpose built the first shoot facilities on Isle of Man and held a pretty cosy (legal) monopoly. The only way to access the tax relief and shoot anything other than harsh exterior shots was to work with the sole shoot facility available. Pots of money were made for said investment group (and still are although the exclusive has sunsetted). The IOM Government, as the benefit to the local economy was significant, even partnered with the group and had it manage a progressive, multi million pound film fund on IOM’s behalf.

Since IOM opened for production business, there has always been a lot of talk in the vein of, “the bloke who found that and assembled the business hit ‘the perfect storm’ of circumstances (government cooperation, incentives, stable region, exclusivity, etc…),” and “if only another one of those could be found, its like a license to print money.” Well, not quite, but a significant Government backed incentive in a region alone can mean appreciable revenue for that region/ state/ territories government especially if: they are producing quality content (see Louisiana’s growth or New Mexico’s or Romania’s), but adding in territory exclusivity (essentially a legal monopoly in the sector) well, thats formidable.

We have heard that a twin to the IOM opportunity is being assembled at the moment. The details include a mixed war chest comprised of debt financing and equity that has been raised and continues to be raised through financial advisors that are former and present elements of Deutsche Bank, and former UBS and Goldman principals. The raise is for a slate of films based off of New York Times bestsellers and top comic book properties, and the raising company would hold territory production exclusivity as well as benefit from a higher production tax relief incentive than most anywhere worldwide (including IOM).Other commercial arrangements to be detailed further.

The board of advisors are ex-Disney, present Deutsche,  an interactive CEO, and Ad agency principals.

We can’t reveal too much more at the moment as specifics are embargoed until August 31, but stay tuned to THN for more exciting updates on this soon….