TBA Studios to invest P500M to boost PH films
Credit to Author: LISBET K. ESMAEL| Date: Sat, 12 Oct 2019 17:28:25 +0000
INDEPENDENT film production company TBA Studios will invest P500 million in the next three to five years to take advantage of the current movie industry boom.
In a roundtable on Thursday, TBA Studios Co-chief Executive Officer Eduardo Rocha said the investment would boost the quality of local films and allow the firm to make a name for itself in the international film scene.
Composed of Tuko Film Productions Inc., Buchi Boy Entertainment and Artikulo Uno Productions, TBA Studios is behind the critically acclaimed “Heneral Luna” (General Luna), “Birdshot” and “Goyo: Ang Batang Heneral” (Goyo: The Boy General), which are now available for viewing on the online streaming platform Netflix.
Directed by Jerrold Tarog and released in 2015, “Heneral Luna” chronicles the final years of the hotheaded and sharp-tongued revolutionary general Antonio Luna. It grossed more than P300 million during its theatrical run, breaking local box-office records.
It swept the 2016 Luna Awards — the country’s equivalent of the US Academy Awards — winning 10 trophies, including picture, director, actor for John Arcilla and supporting actor for Nonie Buencamino.
Released in 2016, the Mikhail Red-helmed “Birdshot” was the country’s official entry to the 2017 Oscars and is the first Filipino film to stream on Netflix. 2018’s “Goyo,” meanwhile, is regarded as a sequel of sorts to “Heneral Luna” and stars Paulo Avelino as Gen. Gregorio “Goyo” del Pilar, the young revolutionary general who defended Tirad Pass.
With the investment, TBA Studios targets to produce “three to four films a year,” President Vincent Nebrida told reporters.
“My forecast is as the Philippine economy grows, so will the movie industry….” Nebrida said. “ We are committed to delivering the kind of high-quality films that value the market.”
The company also revealed it was in talks with foreign and local companies for possible collaborations. It did not disclose further details.
“Now is definitely the opportune moment to make better films given that there are now more ways to generate revenues beyond traditional ticket sales. There is also the viability of selling the format and licensing content,” Rocha said.
with a report from Alvin I. Dacanay