Private, interactive class on Zoom with  top international film financiers!

Get downloadable handouts, case studies, and finance model templates

PLEASE NOTE: This exclusive Stage 32 class is now available to watch on-demand; it is no longer live and the instructor is not available for personal questions, but we highly encourage you to do any assignments to get the most out of the educational experience.

Because of better technology and instantaneous global communication, filmmaking has become more international than ever! Many modern films rely on production companies from different countries to collaborate, whether to take advantage of favorable tax credits or because the story requires shooting across diverse global locations. In this exclusive 4-part Stage 32 Film Finance Class, you’ll learn everything you need to confidently navigate international co-productions. Your hosts will guide you through creating global finance plans, evaluating foreign tax incentives, structuring deals across multiple territories, and managing legal and logistical challenges. You’ll walk away with practical strategies to confidently approach international partners and ensure your project is positioned for success in the global marketplace!

Many filmmakers face challenges when structuring international co-productions. From understanding the financial models behind multi-country deals to managing currency exchange risk, tax credit timelines, and interparty agreements, there’s a lot that can go wrong. Too often, producers jump in without fully grasping how international financing actually works—leading to delays, lost funding, or failed partnerships. This class will demystify the process and give you practical frameworks to avoid these common missteps.

Your hosts, Max Murphy and Peter O’Donnell, are experts in international film finance. Max Murphy, a Financial Analyst at BondIt, specializes in financial modeling, risk analysis, underwriting, and automation, managing all aspects of the deal process from origination to closing. Peter O’Donnell, also a Financial Analyst at BondIt Media Capital, supports the deal team by compiling underwriting information, creating models, prepping legal documents, and ensuring back-end financials are accurate and up-to-date. Together, they provide hands-on insight into international deal structures, financing models, and risk management.

By the end of this class, you’ll understand how to approach international partners, assess foreign incentives, structure financing across multiple territories, and ensure your deals are set up for success. You’ll leave with a clear roadmap for navigating global filmmaking — and the confidence to build projects that can compete in today’s international market.

PLUS! You’ll Receive the Following Handouts:

• Sample Interparty Agreement Outline

• Checklist for Assessing Foreign Tax Credits

• Sample Finance Model Templates

Session 1: What is International Co-Production
International co-production of a film is when multiple production companies from different countries come together to produce a project. This session introduces the concept, advantages, and pitfalls of working across borders.

• What is an international co-production

• Advantages: access to multiple tax credits, rebates, and film/TV grants

• Challenges: interparty agreements, production timelines, and cross-border collaboration

• Building a finance plan with multiple sources of international equity

• How co-production affects pre-sales and distribution rights

• Legal and logistical considerations including translations, contracts, and compliance
  Assignment: Research successfully produced and distributed projects that took advantage of international co-production
  Handout: Sample interparty agreement outline

• Q&A with Max & Peter

Session 2: How Tax Incentives Work in International Co-Productions
Tax incentives are one of the biggest benefits of international co-productions, but they come with added risks and due diligence requirements.

• How multiple countries expand funding opportunities

• Evaluating the strength of foreign tax credits including default risk and economic stability

• When credits/rebates are paid out and how that affects recoupment

• Exchange rate risk and timing of cash flows

• Qualified vs. non-qualified expenditures

• Secondary market for tax rebates and credits

• Documentation and pre-certification requirements (CPA confirmation)

• Lender perspective: Will they accept foreign tax credits as collateral
  Assignment: Evaluate two hypothetical tax incentives and determine which is stronger
  Handout: Checklist for assessing foreign tax credits

• Q&A with Max & Peter

Session 3: Financing Models for International Co-Productions
BondIt typically uses three main financing models, each with its own structure and risk factors. This session explores how to model and assess them.

• Tax Credit/Rebate Model including advance rates, risk pricing, secondary resale value

• Minimum Guarantees (MGs) including evaluating reputation of distributors/sales agents and territorial rights

• Pre-Sales Model including reviewing sales estimates, exchange rate risks, and GAP financing

• Combining multiple models into a hybrid finance plan
  Assignment: Build a mock finance model using either a tax credit, MG, or pre-sales structure
  Handout: Sample finance model templates

• Q&A with Max & Peter

Session 4: Case Studies in International Co-Productions
The best way to understand international co-productions is by reviewing real-world deals. This session walks through case studies to highlight both challenges and opportunities.

• Case Study: #IBelieveHer (if permissions allow)

• Multi-country structure including Luxembourg, European funds, Irish funds, Canadian funds

• Sales agent role and territorial rights

• Finance plan breakdown by territory

• Key lessons: Complexity vs. reward, lender confidence, sales structure

• Additional examples of successful and unsuccessful co-productions

• Q&A with Max & Peter

• Independent producers looking to expand into international co-productions

• Filmmakers interested in maximizing funding opportunities and tax incentives

• Producers, line producers, and finance executives seeking to understand multi-territory deals

• Writers or directors who want a deeper understanding of international production finance