The Brazilian audiovisual industry is facing serious repercussions caused by the COVID-19 outbreak. Since the beginning of the quarantine, governors ordered the closing of movie theaters for an indeterminate amount of time aiming to reduce the crowding of people and mitigate the possibility of contagion.
Meanwhile, ANCINE, the Brazilian Film Agency, has been publishing ordinances establishing exceptional administrative measures trying to lessen the spread of COVID-19 in the audiovisual sector and has also established a task force to monitor and analyze the execution of projects already underway.
During a meeting on April 22, 2020, ANCINE determined that the resources of the Sectorial Audiovisual Fund (FSA) will be designated to Brazilian movie theaters impacted by the COVID-19 pandemic, and the National Bank for Economic Development and Social (BNDES), in association with ANCINE, will launch credit lines to audiovisual companies that can reach 400 million. The temporary suspension of installments of obligations contracted with BNDES before the pandemic was also discussed.
Given the uncertainties of the time, ANCINE's measures are essential to assist in the subsistence of the industry, which is one of the most impacted by the crisis, and also enable its recovery when the situation normalizes.
Our team will continue to follow the news that impacts the entertainment sector, undoubtedly one of the most affected by the global health crisis.
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And for any legal questions related to this pandemic, please contact the authors of this Legal Update or Mayer Brown’s COVID-19 Core Response Team at FW-SIG-COVID-19-Core-Response-Team@mayerbrown.com.
For more information about the topics raised in this Legal Update, please contact our Intellectual Property & Data Privacy team.