KEY POINTS:
Film industry folk could be excused for not being the biggest cheerleaders for a Kiwi America's Cup win.
An America's Cup victory would increase competition for taxpayer subsidies just as the industry seeks to squeeze more from the Government.
The industry is trying to increase the large-budget screen production grant available to Hollywood movies from the present 12.5 per cent rebate on local spending to 15 per cent.
With his phenomenal success and Hollywood pulling power, Peter Jackson was an effective lobbyist for the 12.5 per cent grant. The Jackson company that made King Kong - Big Primate Pictures - received a $48.6 million taxpayer grant under the scheme.
Were the subsidy 15 per cent he would have picked up a further $10 million.
Where once film was the glamour industry of choice, it is now competing with sports events for Government handouts.
We may know tomorrow whether our America's Cup hopes are still alive. But even if Team New Zealand does not win, campaigners will still face competition from the Rugby World Cup.
The minister holding the purse strings for grants is sports-mad Trevor Mallard - the grand evangelist for a waterfront stadium for Auckland.
But a warning from Jackson that he could move overseas would surely stir the Government into action.
The New Zealand film industry wants an increase so it can match Australia. The Business Herald reported recently that the Australian Government has increased its tax-based film incentives to big-budget Hollywood productions from 12.5 per cent to 15 per cent.
Now lobby group the Screen Council wants 15 per cent too.
Some will argue it is throwing good money after bad. But if we offer less than Australia, it will be another burden.
The booming kiwi dollar has been adding to the cost of filming US productions coming here. One producer noted that it was now only marginally cheaper to film here than it is in Los Angeles.
St Peter of Wellywood
Aucklanders who venture into "Wellywood" can sometimes be surprised at the degree that Jackson has become a deity in the capital and his Miramar film complex the new Jerusalem.
A quick glance at the allocations for the large-budget screen production grants explains why.
Figures supplied by Mallard's office show that the $48.6 million represents a rebate for $409 million of local spending for King Kong. And most of that money was spent in the Wellington region over two years.
What would happen to the Wellington economy if he left?
At home with the Griffins
Animation has been working wonders for MediaWorks-owned youth channel C4. The channel's boss, Andrew Szusterman, says that animated shows such as Futurama, South Park and Aqua Teen Hunger Force have delivered standout results for the channel, aimed at the audience aged 15 to 29.
C4 is pumping its limited billboard resources into its 7pm daily episodes of Family Guy, with repeats on rotation and new episodes on Wednesday night.
Szusterman says the show is delivering a 14 per cent share of the 15 to 29 audience to C4, which is not bad against the likes of Campbell Live and Shortland Street.
Ironbridge closing gap
Private equity company Ironbridge Capital is slowly inching up its ownership of MediaWorks - TV3, C4 and half the country's radio stations. It has increased the 70 per cent stake it bought from CanWest and reported yesterday that it had reached 76.95 per cent.
Under its takeover offer, Ironbridge is offering $2.33 a share and aiming for 90 per cent, though people are watching to see whether Brook Asset Management, with 8.6 per cent, finds enough fellow investors to reach 10 per cent and block the automatic takeover. If so, they might be able to squeeze a new, higher offer.
Goldman Sachs JBWere analyst Rodney Deacon - who has tended to be upbeat about the MWL in the past - is predicting Media Works will return a net profit of $26.3 million for the year to August 31 - up just $1.6 million on the actual $24.7 million result last year. Deacon published a note last week that estimated net profit next year will rise to $31.6 million and $35.6 million in 2009. So on that scenario investors who hold on should not worry that there is trouble ahead.
Meanwhile, TV3 squeaked past TV2 as the most popular channel for its target demographic of 18-49 in prime time. Rounded shares gave TV3 26 per cent, TV2 25 per cent and TV One 24 per cent; 3 News beat One News in the 18-49 share for the month - 37 per cent to their 34 per cent.
Coming feature?
The timing of SkyCity reviewing the future of its cinema chain is intriguing. Just 12 months ago it bought out its joint-venture partner Village Cinemas, paying $49.5 million.
There is an argument that the company has been planning to leave the chain for some time and that it is easier to sell on an asset as the sole owner rather than as one half of a joint venture. In which case we wonder about another significant development at SkyCity Cinemas last year.
In October managing director Evan Davies appointed as its new general manager Matthew Liebmann, a high-profile corporate media executive from Australia. He has 12 years' experience in Australian media and was director of entertainment and media practice for PriceWaterhouseCoopers, as well as working with Village.
Back in October Liebmann said he was passionate about the cinema business, but he has seemed over-qualified for the job and destined for bigger things. The question will be whether SkyCity is still in the cinema business in six months, and where Liebmann fits at SkyCity.
Whybin wins
We reported last week that the Auckland office media buying agency OMD had picked up a Grande Prix media award at the Cannes Advertising Festival.
The work for ASB Bank was for Pago system, enabling people to pay by mobile phone.
Which it did, but it has been pointed out that the media award was shared with the local office of TBWA/Whybin. Whybin, you remember, also won a Grande Prix award for promotions at Cannes for its Bonded By Blood campaign. So it was the star of the festival.
