Unless you’ve been living under a rock during 2009, you know the economic situation in the world is not the best. The film industry is now feeling the effects of the global economic crisis, particularly as the U.S. dollar continues to lose value against other currencies.
This situation has forced Warner Bros. Pictures to pull out of filming Green Lantern in Australia, since the current exchange rate between the U.S. dollar and the Australian dollar would increase production costs by over $20 million. Warner Bros. will likely move production, which is set to start in November, closer to home, shooting in either Canada or Mexico.
The unfortunate but necessary move by Warner Bros. comes as a stark contrast to the release of Where the Wild Things Are, which was filmed in Australia. The film could have easily stirred interest in using Australia as a filming location, but the financial issue faced by Warner Bros. will no doubt deter other studios from shooting in Australia.
The Australian film industry is clearly prepared to deal with the the economic problems that might keep studios from working in Australia, as they’ve already created the “Make it in Australia” campaign in L.A. to promote Australia as a film location.
Although Warner Bros. has pulled Green Lantern from production in Australia, the company is still backing two animated films currently in production in Sydney.
