A flagship Finnish film project has been hit by delays and investor complaints.
Iron Sky: The Coming Race was due for release in 2017 but still hasn’t landed in cinemas. A promoted February 2018 premiere date has also come and gone.
Now, some investors are complaining about the delays and cost overruns, while the producer says budget problems have now been solved, and promises the film will open this year.
Iron Sky History & Funding
The first Iron Sky film opened in 2012 to fan acclaim, but little critical or financial success. Despite opening in a blaze of publicity, the film was only a hit in a handful of countries like Finland and Germany.
But the crowd-funded movie was popular with genre fans and the sequel was soon on the drawing board. In fact, a trilogy and TV-series spin-offs were planned.
The sequel secured €1 million in funding from the Finnish Film Foundation, which is the largest amount of subsidy it’s ever sunk into one film.
Other money came from investors and fans. Although some fans are okay with the delays, others are not.
“Most of the fan investors are satisfied” says Tauno Hyvärinen from Kuopio, who invested €9500 into Iron Sky projects so far, and wants to invest more. He says people who gave money were fully aware that all investments carry risk.
Austrian Michael Frank has been vocal online with his criticism of the Iron Sky projects. He’s invested €1000 and says he no longer has faith an ‘Iron Sky Universe’ of projects will be created around the films.
Frank says that producers have attempted to stifle criticism.
“[Producer Tero Kaukomaa] told me in an email that my comments would be considered a breach of investment contract and that my comments about possible lawsuits against the company would be considered blackmail” he says.
Kaukomaa says Frank has made allegations that are simply untrue. The producer says he has tried to be completely open throughout the process, but that due to proprietary business reasons, full disclosure is not always possible.
“I’ve learned that even when you think you are transparent, it does not always seem so from the outside” says Kaukomaa.
New Opening Date
Part of the delay to the film has been a cash flow shortage to pay top FX studio Pixomondo in Berlin for their work.
Now Kaukomaa and Iron Sky director Timo Vuorensola have sold their own production company shares to raise money, and found new investors.
Pixmondo has experience with big budget special effects, having worked on productions like Game of Thrones.
“The film will come out this year” says Kaukomma.
“The extra time has allowed us to trim. The movie is getting better”.
