Beta Nordic Studios, a branch of the German company Beta Film, has acquired a 25% share of the Icelandic production service company Sagafilm.
According to Beta Film’s website, “Sagafilm will now be part of Beta Nordic Studios, an umbrella group launched in 2019, comprising Patrick Nebout’s Swedish banner Dramacorp (..) and Matti Halonen’s Finnish company Fisher King…Beta Nordic Studios focuses on local scripted projects with an international appeal and is backed by Beta Film’s international distribution network.”
With this deal, Beta Nordic Studios will be able to increase its presence in the Nordic area while Sagafilm may gain better access to global markets for film and TV productions, according to the statement on their website.
Sagafilm is one of Iceland’s leading production service companies, with an international reputation on both sides of the Atlantic, and works with a wide range of productions, such as commercials, feature films, television, documentaries and still photography shoots.
Kjartan Þór Þórðarson, the CEO of Sagafilm Nordic, is said in an announcement, “Iceland is a small market so we’re always dependent on international success of our projects. So it made sense for us to join forces with Beta Nordic Studios to further our ambition and build our international IP business.”
According to Hilmar Sigurðsson, the CEO of Sagafilm, the company currently has 20 projects in development at different stages, including Sagafilm’s latest drama series, “The Minister”, which will premiere on RÚV on the 20th of September. These projects won’t necessarily be sold in international markets by Beta Film however.
“We will maintain our independence and continue working with different partners as we’ve been doing throughout the years,” Sigurðsson added.
Note: Due to the effect the Coronavirus is having on tourism in Iceland, it’s become increasingly difficult for the Grapevine to survive. If you enjoy our content and want to help the Grapevine’s journalists do things like eat and pay rent, please consider joining our High Five Club.
You can also check out our shop, loaded with books, apparel and other cool merch, that you can buy and have delivered right to your door.
Buy subscriptions, t-shirts and more from our shop right here!