Reuters Cast member Zoe Saldana poses on the red carpet as she arrives for the screening of the film "Blood Ties" during the 66th Cannes Film Festival in Cannes May 20, 2013.
As the Twentieth Century Fox struck an agreement with the NZ government, members of the film industry from the First World country could not be happier with the news that Cameron is filming three sequels, with back to back production from 2016 to 2018.
The combined budget for three films has been estimated at about $NZ1 billion or ($A932.27 million and $US415 million), according to the Herald Sun and ABC News Australia.
Though the first franchise of the box office animated hit was shot in New Zealand, there has been fears that the film sequels will be filmed elsewhere with other countries reportedly offering better deal with Cameron and the film producers.
The NZ government decided to formulate new policies to accommodate and consider the deal for Avatar films, which in the end will provide benefits to the local film industry.
One of the measures put in place included increase of rebates from 15 to 20 percent for big productions such as “Avatar.”
After carefully studying the cost-benefit analysis for the film starred by Australian actor, Sam Worthington, the NZ government entered a deal with the film producers, said NZ Economic Development Minister Steven Joyce.
“This is excellent news for the New Zealand screen industry," Joyce was quoted as saying by the Herald Sun in reaction to the deal entered into by NZ and the Twentieth Century Fox.
"The Avatar sequels will provide hundreds of jobs and thousands of hours of work directly in the screen sector as well as jobs right across the economy."
According to the Sydney Morning Herald, NZ Prime Minister John Key made the announcement Monday, Dec. 16 that the three films will be produced and shot locally, ensuring of more economic activities in the country during filming.
The memorandum of agreement has been signed and finalized as Key made the announcement Monday. The SMH even enumerated the requirements both parties should adhere to as inked in the agreement.
According to the SMH, the requirements include:
That an estimated $NZ500 million will be spent in New Zealand during filming, including live action shooting and visual effects;
That New Zealand will be hosting at least one official red carpet premieres;
That a video featuring New Zealand will be included as one of the segments in the DVDs and Blu Rays;
That Director James Cameron will sit as founding member of a new screen advisory board (as he offered). The “Avatar” director will serve as consultant providing advice and guidance to the members of the New Zealand screen and film makers set out to make it big in the film industry internationally;
That both parties will contribute to reinvigorate NZ film industry through marketing and other promotional activities.
“Avatar” is set to begin filming in New Zealand between 2016 and 2018. The film will be released on Christmas in 2017, 2018 and 2019.
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Credit: YouTube/ farCry studio-Z
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