Emerald Pictures is a privately held international distribution and production company intending to set up operations in the Province of Québec. Emerald’s goal is to produce, develop, acquire and release motion pictures and television programming for worldwide distribution. MMCT is representing Emerald to the Province of Quebec, the City of Montreal, various government agencies and companies in the film trade.
In 2004 Québec’s film industry generated approximately $1.2 billion and employed 36,000 people directly and indirectly. Foreign location shooting represented approximately $190 million or 10% of those shot in Canada, a decline from $340 million or 19% in 2003. Québec is North America’s capital for French TV and film production. The industry is made up of approximately 68 Studios including the 36,500 square foot La Cité du Cinema. Overall Québec has a talented and knowledgeable base to offer the international film industry.
Québec is still a small player in the industry, a service centre to the international film shoots that come to Montréal. Internationally the studio giants have absorbed the majority of midsize distribution companies leaving a lot of medium size films without any distribution. This has created an opportunity for Québec and Emerald Pictures.
Emerald’s team has the necessary experience and respect in the industry to set-up a world-class production and distribution company in the Province of Québec. Emerald’s mission is to produce, develop, acquire and release motion pictures and television programming for worldwide distribution. The company is set up as a vertically integrated full service business with multiple profit centres focusing on international distribution. Also, a co-production fund tied to a distribution network will attract outside investors and productions.
An average film shoot employs 120 people and lasts for three months. We estimate that we would be creating a minimum of 1,500 direct jobs, 2,400 indirect jobs, and nearly $1 billion in tangible economic spin offs. The implications are enormous for Québec’s taxation base. Estimating conservatively this project would generate an additional $25,000,000 in income taxes per year. Additionally the applicable Québec sales taxes on the non-income spending could double this figure.
Emerald’s business plan including its financial model and co-production fund is a perfect fit for Québec. Its facilities will improve Québec’s movie making infrastructure and provide the stimulus to attract even more industry investors. Montréal and Québec’s international exposure would increase considerably, eventually becoming a new international film capital.