Century City-based Broidy Capital played a pivotal role in the financial engineering of a precedent setting live concert motion picture event for GRAMMY nominated Sony Music Latin recording artist Kany Garcia.
Kany Garcia performed the concert in mid February in San Juan, Puerto Rico.
Broidy Capital, and company chairman Elliott Broidy, arranged for critical financing of the Kany Garcia concert event for Sony Music Latin.
Producing an epic event is a huge undertaking. And the financing is no small part of it, says Richard Burkhart, who helped produce the first Latin GRAMMYs.
“I can think of nobody better than Elliott Broidy and Broidy Capital to expand the horizons of Sony Latin and Latin music,” says Burkhart.
There’s a gentrification of the musical kind taking place in Puerto Rico, the type of revival that many, like Antonio Sifre, have been working for years to nurture.
“I had hoped individuals like Elliott and Broidy Capital would be attracted to San Juan for our concerts and films,” says Sifre, co-author of the film and music tax credit law in Puerto Rico and partner in 30 Second Productions which produced the film for Sony Latin. “We are honored he has embraced our efforts in San Juan.”
Last year Puerto Rico expanded its film and media production incentives making it one of the most attractive in the world.
The new legislation extends a 20% production tax credit to all non-resident “Above–the-Line” spending, including producers, directors, writers and talent. This complements the already existing 40% taxcredit on all resident spending as well the 20% tax credit on non-resident talent spending, according to the Puerto Rico Film Commission.
Broidy says he recognizes the growing influence of Latin music and the obvious appeal of Puerto Rico.
“When it’s right, it’s right. This was about the right opportunity that had all the right ingredients that came across at the right time,” says Elliott Broidy , Chairman of Broidy Capital. “I am proud to have played a role in making the Kany Garcia concert come to life.”
“We are incredibly proud to have Elliott on board to bring the powerful message of Sony Latin to audiences globally,” says Nir Seroussi, Managing Director of Sony Music Latin.
SOURCE: Broidy Capital
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