Philenews

Simos Manganis: "You don't build a film industry with one good movie"

Published January 10, 2026, 06:08
Simos Manganis: "You don't build a film industry with one good movie"

Simos Manganis, CEO of Green Olive Films, states that Cyprus has the potential to become a significant hub for audiovisual production at the international level. Although Cyprus has already acquired production value and has taken steps in the financial sector, it lacks a long-term strategy, substantial cooperation between the private and public sectors, and clear targeting. Manganis emphasizes that Cyprus should not seek to imitate Hollywood, but to develop its own identity as a production services hub, offering services to series, films, documentaries, and reality shows. The inflow of funds and the creation of a steady stream of work will attract new talent and create sustainable job opportunities. The Film in Cyprus program offers a cash rebate of up to 45% on eligible expenses, with an annual budget of 25 million euros, which however is not fully absorbed. This indicates the need for active effort and strategy to attract investment. The experience of previous productions in Cyprus is crucial for attracting new ones, as a smooth process and timely payment are important factors. For investors, it is important to know where and how they invest, to assess the "bankability" of directors and actors, and to ensure that the processes are safe and reliable. Building a sustainable industry requires more than one successful film. It requires a steady flow of productions and a supportive infrastructure.