The R$ 10 million operation will allow the Elo Company, from São Paulo, to distribute, annually, three films to the general public in theaters
Licensing for television and video platforms on demand (VOD) in Brazil and abroad is also anticipated
The project foresees the production of more than six audiovisual works with export potential, including feature films and fiction series, documentaries and animated series
The Brazilian Development Bank (BNDES) has approved the granting of R$ 10 million in financial support to the business plan of the Elo Company, from São Paulo. This is the first time a content distributor receives support from BNDES, a traditional supporter of other areas within the audiovisual production chain, from production to release.
The resources (R$ 5 million in financing and another R$ 5 million in resources granted under the Audiovisual Law) represent 42.9% of the total to be invested in the business plan of the enterprise, which has the goal of annually distributing , three films intended for general audiences in cinemas, in addition to their licensing for television and video platforms on demand (VOD).
The business plan also foresees the co-production of more than six audiovisual works with export potential, including feature films and fiction series, documentaries and animated series
The project also includes corporate investments and the acquisition of equipment and software, such as editing stations with ultra high definition (4K), professional video and audio monitors, servers, editing software for color treatment, composition, visual design, visual effects and animation, among others.
In addition to strengthening its performance in the strategic industry of film distribution, with high commercial potential in the cinema and other media, the enterprise will act in a similar way to its international peers. This is because it will apply the knowledge of the demand and of its network of contacts in the development and production of non-fiction and fiction animation projects,..
Elo estimates that it will expand its workforce from 9 to 17 employees. The number of indirect jobs is expected to rise from 19 to 27 — not to mention the hiring of additional professionals for the production and release of each title, which, by the enterprise’s calculations, must reach over 15,000 direct and indirect jobs during the implementation of the business plan.
The enterprise – Founded in 2015, the Elo Company is the distributor of more than 200 films in Brazil and in the world. The enterprise was responsible for the distribution of the animated picture “Boy and the World,” Oscar nominee in 2016 and licensed to more than 100 countries, as well as titles like “Marina Abramovic In Brazil: The Space In Between”, the first Latin American film to receive the Vimeo Originals seal, and “SOS Mulheres ao Mar 2,” with a box office that surpassed 1.5 million tickets sold.
Support to the audiovisual industry – From January 2007 to December 2017, BNDES disbursed R$ 630.3 million intended for the audiovisual production chain through its program for the Development of Culture Economy (BNDES Procult).
In total, 46 enterprises of the industry were financed, 83% belonging to the MSME segment. The operations, which considered the business plans, included, in addition to the productions, the structuring of creative centers, technological development, training and management improvements.
In the animation segment alone, 5,512 minutes were produced in 520 episodes of 16 series and 2 feature movies. Also through BNDES Procult, 14 fiction series, 24 fiction feature movies and 7 documentaries were financed.
BNDES also financed the deployment of 331 new theaters and the modernization of 811 others, which corresponds to 78,000 new or reformed seats. The resources also allowed the digitalization of the Brazilian theater complex.
The Bank also has the BNDES Cinema Notice at its disposal, which, since 1995, by public selection, supports the production of national films. Since then the instrument allowed , investments in the order of R$ 215 million for 454 movies.