EuropaCorp Wades Into TV Production of Spin Offs

According to Daily Variety, EuropaCorp, the movie conglomerate owned by director Luc Besson, is wading into the small screen.

EuropaCorp co-founder Pierre-Ange Le Pogam confirmed the move, noting that the movie conglomerate is in talks with "French and overseas networks" to develop content both domestically and abroad.

The news couldn't come at a better time for the company. Sales of programming to France's GallicTV has already netted EuropaCorp a cool $58.9 million for the 2008-09 fiscal year, a third of their annual revenues. A bulk of that comes from the simultaneous release of French filmmaker Yann Arthus-Bertrand's ecodoc "Home" in theaters, DVD, and as well as a screening on France's Channel 2. It gave the broadcaster one of it's largest audiences of 2009.

The growth comes from a three-pronged strategy adopted by Besson, Le Pogam and EuropaCorp CEO Jean-Julien Baronnet, who describes it as "strengthening and broadening it's [EuropaCorp's] production lineup, developing more consistent sources of income, and international alliances."

TV production is a major linchpin in that strategy, particularly spin offs, something Besson has a history with. In 1997, "La Femme Nikita" debuted on the USA Network. The show, based on Besson's 1990 movie, "Nikita," aired for five seasons, and netted some of the highest ratings for the network.

Besson hopes to replicate his success with "Nikita" with spin offs of his popular "Transporter" and "Arthur and the Invisibles" series. But the plan also hinges of the popularity of sequels, particularly the thriller and action films Besson has become known for, hence Friday's announcement that a sequel to the popular Liam Neeson film "Taken" is in the works.

Though Le Pogam declined to reveal the screenwriter or the sequel for "Taken 2," he did confirm a production date of 2010.

"Taken" netted over $222 million worldwide, with $145 million coming from the United States.

That kind of money can help a mini-major such as EuropaCorp invest almost exclusively in major blockbusters. Yet it's core mission is the same: to deliver compelling films at reasonable production costs.

With production constant around 10 to 15 films a year and expenses at 20 to 30 percent below that of major studios, EuropaCorp is fast becoming one of the most in-demand studios in Europe. But it isn't popping the cork just yet.

With the addition of Baronnet to the corporation's management staff, EuropaCorp has managed to rake in a combined cash flow of $129.3 million, the bulk of which is going towards investments, such as the rental of a multiplex in Marseilles.

According to Besson, the refurbished theater will help inaugurate a new generation of Gallic hardtops.

In the end though, it all comes down to entertainment.

"Though this is a financial issue, it's also leverage to be able to invest more in movies," Baronnet said.