The directors of the EIS have secured the services of writer and producer John Goldsmith as chairman and producer Stephen Evans as advisor to the board. Goldsmiths credits include Victoria and Albert, the1970s television series The Professionals and television mini series Coming Home. Evans produced the film Peters Friends, starring Stephen Fry.
Jubilee Pictures aims to produce up to two films a year with varying budgets to provide an ongoing income stream for investors. The company has already acquired the rights to a number of scripts for thrillers, which is seen as a popular genre with greater potential for long-term returns. Actors and actresses proposed by their agents to appear in one of the films include Colin Firth, Alan Rickman, Miranda Richardson and Sean Bean. However, no formal contracts have been agreed.
It is likely that first film will be directed by David Price, who directed Children of the Corn II. This film was produced on a budget of less than 1m and took over 10m in the US and 25m worldwide. Although the company has received a formal letter of intent from Price, he is not bound by a formal contract at this stage.
A completion guarantee has been taken out to ensure the films will be completed to budget, script and time scale. Production insurance has been taken out on the cast, crew and equipment and the company has been granted permission by UK independent film production business Spice Factory to use its distribution partners.
These factors should help to lower the risks, along with the fact that investing in a portfolio of films rather than a single film means there is at least some degree of diversification. However, this is still a high risk opportunity which depends on the success of the films.