Eksmo-AST Publishing House will invest in film adaptations of Russian books for the first time
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The Eksmo-AST publishing group will start investing in film adaptations of books by Russian authors it publishes, Oleg Novikov, the group’s president, said. Eksmo-AST plans to allocate 200 million rubles for the debut project.
As Mr. Novikov said RBC, the group will use funds from the management company to finance projects. Eksmo-AST will invest 200 million rubles in the first film project in the history of the group, and in the future, up to 25% of the cost of film production will be covered at its expense.
The list of potential projects for financing has not yet been formed, representatives of the publishing group noted. The list of possible adaptations will be compiled based on the results of the pitching sessions, which will take place in February. The selection of projects will be entrusted to a special jury group, which will include representatives of online platforms and film studios, in particular Premier, Kion, 1-2-3 Production and Cosmos Studio.
According to the representatives of the group, Eksmo-AST is ready to take up to 98% of the stories for film adaptation, since “every one, with rare exceptions, can be made into a cinematic one.” “It often happens that some studio read the book and came to us with a request for it, it is so cinematic. But printed stories need to be finalized in any case, and it is better to do this with the three of us: we, the studio and the author, ”said the representatives of the group.
Eksmo-AST clarified that the funded projects should be implemented within a year. The funds will be allocated on the terms of co-financing on a reimbursable basis.
Eksmo-AST is the largest publishing group in Russia in terms of volume of non-periodical publications. The group includes large publishing houses AST, Eksmo, Bombora, etc. It arose in 2012, at that time it accounted for 25% of the entire Russian book publishing market.
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