Expect more international output deals soon. D Films, the Canadian distributor, initially plans to release between 5 and 6 films a year from the British sales and distribution company. This will rise to between 6-8.
The Icon output deal will cost D Films around C$5 million ($5 million) a year, guaranteeing 5% of the budgets for Icon’s production slate. It is estimated London-based Icon will spend $100 million on production annually. Coriolanus, Ralph Fiennes’ Shakespeare adaptation which Icon is distributing, is now in post-production.
It also gives D Films the opportunity to have Icon sell the 2-3 films it makes each year around the world.
The pact reunites Darryl Iwai, chairman of D Films, with Icon CEO Stewart Till. The pair worked together when Till ran PolyGram Filmed Entertainment and, less successfully, Signpost Films. Both Icon and D Films released Creation, starring Paul Bettany and Jennifer Connolly.
Last year, indie movies accounted for C$242 million in box office revenues, according to Montreal-based Zoom Services.