Studio Babelsberg Appoints Joerg Bachmaier as New CEO Amid Financial Challenges

The historic German film studio seeks to revitalize its operations following a significant financial loss due to industry strikes.

Bachmaier, with over 20 years of experience at major companies like Warner Bros. and BBC Studios, will take over as CEO on November 18.
Studio Babelsberg reported a €3.1 million loss in 2023, primarily due to prolonged strikes by writers and actors in the US.
The studio's integration into the global Cinespace Group helped mitigate losses, providing a €6.5 million financial cushion.
Stakeholders view Bachmaier's appointment positively, emphasizing the need for leadership based in Germany to navigate future challenges.
The studio is hopeful for government film tax incentives, which could allow productions to deduct up to 30% of costs, enhancing its global competitiveness.