Logical Pictures aims for the Palme d’Or with the film of a Russian opponent – Teller Report

Challenges – Why did you create a film production company?

Frederic Fiore – Basically, I’m an engineer, but I branched off into entrepreneurship by working in B to B, finance and tech. In 2016, a bank alerted me to the subject of film financing, which has changed with the arrival of platforms. So I launched Logical Pictures as a private investment fund in cinema. In five years, we have financed more than twenty independent films, including Coralie Fargeat’s horror film revenge and Olgaa dramatic fiction about a young Ukrainian gymnast.

Tchaikovsky’s Wife, which you produced, is in official competition at the Cannes Film Festival. How can this selection change the trajectory of this film?

This selection means that the feature film by Russian opponent Kirill Serebrennikov will be seen at the same time by all the biggest buyers around the world. This lighting of a film in competition comes to accelerate our work as a producer. We can indeed hope to almost triple its international sales. And if the film were to win the Palme d’Or, it would be the jackpot.

Read alsoWho is Iris Knobloch, the next president of the Cannes Film Festival?

How does Logical Pictures disrupt the traditional film industry?

From 2018, I developed a dozen subsidiaries within Logical, by associating myself with seasoned professionals. We finance, produce, distribute in France and internationally all types of content: films, series, documentaries and advertisements. It is this pooling of business expertise that makes our model unique. As the name suggests, Logical comes to streamline financing in this industry.

You have just acquired The Jokers Films, distributor of Parasite, Palme d’or in 2019. Why?

We were already minority shareholders in The Jokers, which works with renowned directors like Bong Joon Ho and Nicolas Winding Refn. We completed its acquisition in January to develop even more synergies. The Jokers thus became the distribution subsidiary of Logical Pictures.

How did your turnover grow from 7 million in 2019 to over 20 million in 2021?

This growth is mechanical, because we have launched new activities such as advertising and a tech subsidiary that develops platforms to view and buy content on the blockchain. Our goal is to reach 50 million in 2025 and double our workforce to reach 100 employees.

Read also Why investment funds are chasing good production companies

What brakes still need to be lifted in this industry?

We must inject private funding to overcome the constraints linked to television channels. The cinema is certainly an atypical investment, but it can be profitable. It is a long-term economy that does not rely solely on its theatrical release. For example, the movie Pleasure recorded few admissions in France, but we financed it thanks to huge international sales.

Your growth dream?

Shake the bell by listing Logical on the New York Stock Exchange.