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Located just outside Berlin, Babelsberg has been under a cloud after the US company Cinespace — a subsidiary of the real estate company TPG Real Estate Partners (TREP) — became the majority shareholder at the beginning of the year, since when hardly any filming has taken place at the studios.
German film director and Oscar winner Volker Schlöndorff added to those fears as he spoke of the “danger” posed to the studio’s existence. He said that since the US company Kino Bidco, a subsidiary of Cinespace, became one of the majority stakeholders, there were hardly any films being produced in the historical studios. Schlöndorff, who has also served as the CEO of Studio Babelsberg in the past, warned that the studio could be wiped out of existence.
Earlier this week, German Chancellor Olaf Scholz spoke out in support of preserving the Studio Babelsberg amid fears over the future of the oldest large-scale film studio in the world. He said he wanted to keep the multi-billion dollar business of film and TV productions in Germany. “We will make far-reaching decisions in the course of next year at the latest,” Scholz said Tuesday during a visit to the film studios. The industry “must be maintained here and elsewhere in Germany because once it’s gone, it’s hard to rebuild,” he added.
Babelsberg’s co-chief executive officer, Andy Weltman, called for competitive tax incentives, so that Germany could “once again play a leading role leading role” in film production.
German film industry stagnating
According to a Statista forecast, the revenue of the film industry in Germany by 2025 will be around €10.5 billion ($11.4 billion), and largely stagnating.
Founded in 1912, the Babelsberg film studios, are regarded as the cradle of German film and the oldest large-scale studio in the world. Today the studios have, among other things, 21 state-of-the-art studios and state-of-the-art studios, outdoor sets covering more than 173,000 square meters as well as Europe’s largest prop warehouse.
Among the films shot in Babelsberg were 1927’s “Metropolis” by Friedrich Wilhelm Murnau and “The Blue Angel” with Marlene Dietrich in 1930.
In recent years, Babelsberg was used for Quentin Tarantino’s “Inglourious Basterds” and “Grand Budapest Hotel” by Wes Anderson as well as the series “Babylon Berlin.”
jsi/mg (Reuters, dpa, epd)
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