A Biz is Born

     

BOSTON, Dec. 15, 2011 /PRNewswire-iReach/ — “Lockdown,” the low-budget indie movie filming this month outside Worcester, is another sign of a budding Massachusetts-based scripted film and television production industry, a long-stated goal of the state’s film and TV production tax credit program.

The project, which is using a nearly completely locally based crew, is the second collaboration between three Massachusetts-based entertainment entities: Boston-based moody Independent, a long established producer of low-budget indie flicks (Black Irish, the Legend of Lucy Keyes) Powderhouse, the region’s largest producer of cable television series, (Build It Bigger, Dogs 101) and Coastal Capital Advisors, LLC (“CCA”), a Massachusetts-based film private equity firm. the group’s recently completed “Shattered Silence” about teen cyber-bullying, will air on Lifetime in February.

On both features, moody Independent is the lead producer and hands-on production company, while Powderhouse will provide post production services. CCA and Powderhouse are also equity partners in the project through a jointly formed film fund, and CCA is providing additional financing. the team is leveraging their established LA-based sales relationships to ensure the projects have the strongest possible releases.

“What’s also exciting about “Lockdown” is that its an example of the tax credit jump-starting the growth of our local industry,” said Joel Olicker, Powderhouse CEO. “By making it possible to produce movies like this, the credit is helping local companies grow a sustainable entertainment industry, right here in Massachusetts.”

Recent dynamics in the movie business seem to be aligning with the effort. Hollywood has slashed its output of features in recent years, further intensifying its focus on super high-budget blockbusters, which need global appeal to succeed. at the same time, television networks which have traditionally focused on non-fiction and reality fare are dipping their toes into the scripted world, in an attempt to expand their audiences. But they need affordable product.

“This creates a nice opportunity for producers who know how to make high quality movies on modest budgets, which is exactly our wheelhouse” says mark Donadio of moody Independent. “For these little movies, it’s all about landing them on a dime. if we do it right, we are able to pay back the investors, generate a modest profit, and move right on to the next one. People keep working and we develop a solid local crew base. how great is that?”

Media Contact: Joel Olicker Powderhouse, 617-284-2950, jolicker@powderhouse.netNews distributed by PR Newswire iReach: https://ireach.prnewswire.com

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A Biz is Born


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