At the SXSW London panel "Big Stories, No Borders: The New Economics of Global Co-Productions," Claire Mundell (Synchronicity Films), Samuel Kissous (Pernel Media), Andri Ómarsson (Glassriver), and David Wilcox (Fifth Season) discussed how declining US financing and rising production costs are forcing the industry to adopt new models, in which co-productions are being set up more organically by involving partners early in the development process. Kissous pointed to Missed Call as an example of a Franco-British financing structure, while Mundell emphasized that Careless, as a UK-Australian treaty co-production, benefits from tax advantages such as Australia's 40% producer offset, and that co-productions must have creative logic as well as financial logic.