DUBAI // The cinema industry faces a choice between making independent films or surefire moneymakers, a studio chief said yesterday.
Movies are a business, the president of Rotana Studios, Dr Hala Sarhan, told a panel discussion at Diff.
Changes in the studio system, pressures on filmmakers and crossing the line between independent and commercial were also under the microscope.
"The audience and market dynamic is changing, that is true. I have to keep a balance and check figures but we have both blockbuster and independent content," she said.
Peter Weir, the director of The Way Back, which was shown at Diff on Wednesday, said that when he started his career in Australia "commercial" was a dirty word.
"That is because, like everywhere, the aim is to make the money back. You had to tailor the budget to the idea while at the same time not give up on your idea," said Weir.
"There is gold out there," he said. "Some individuals in the industry ask why make a movie that turns a little profit as opposed to, say, a zombie animation that also has vampires and can bring in billions of dollars."
He said filmmakers should be given the choice of a full "keyboard to play with", and take some risks. "We must protect new filmmakers because we could be in danger of losing them. I took risks in my career, some were successes and some weren't."
Michael Werner, co-chairman of Fortissimo Films, an international sales and distribution company, said understanding audiences was key.
"Great films begin with great storytelling," he said. "We used to have those great classic movies, then came the studio system, so suddenly young stars and directors had a path laid out for them by these studios."
Another change he noted was when multiplexes replaced art-house cinemas, and he predicted the same will happen with DVDs and new technology.
The Cs that make up cinema, Dr Sarhan said, include creativity, concept, conclusion and "of course commerce", so films such as Microphone, an Egyptian movie about the underground music scene, could be classified as an initial risk.
"But look at what happened when The Hurt Locker won best picture over Avatar, produced with a much bigger budget it gained huge commercial success," she said
"Paranormal Activity cost $15,000 (Dh55,000) to produce and enjoyed at least $40 million in profit. So we cannot deny it is a business."
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England World Cup squad
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Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
Sholay: a 1975 Indian action-adventure film. It follows the adventures of two criminals hired by police to catch a vagabond. The film was panned on release but is now considered a classic.
Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.
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UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The biog
Age: 35
Inspiration: Wife and kids
Favourite book: Changes all the time but my new favourite is Thinking, Fast and Slow by Daniel Kahneman
Best Travel Destination: Bora Bora , French Polynesia
Favourite run: Jabel Hafeet, I also enjoy running the 30km loop in Al Wathba cycling track
AVOID SCAMMERS: TIPS FROM EMIRATES NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
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F1 drivers' standings
1. Lewis Hamilton, Mercedes 281
2. Sebastian Vettel, Ferrari 247
3. Valtteri Bottas, Mercedes 222
4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
8. Esteban Ocon, Force India 56
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
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It
Director: Andres Muschietti
Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor
Three stars