Overview
Aqua Films is a Buenos Aires-based film production company owned by Enrique Pineyro and Veronica Cura. Founded around 1999, the company produces Argentine fiction and documentary features and provides production services for international productions shooting in Argentina and South America. The company has rebranded as Anchoita Films, now operating from offices in Buenos Aires and Madrid. The aquafilms.com.ar domain remains active and redirects to the Anchoita Films website.
The company is a registered production company with Argentina's Instituto Nacional de Cine y Artes Audiovisuales (INCAA), the national film institute that funds domestic production and distribution through a quota-and-subsidy system. Aqua Films' dual role as both a producer of Argentine films and a service provider for foreign productions gives it a position in the Argentine film industry that spans local authorship and international co-production.
Distribution Model
Aqua Films operates as a production company, not a distributor or sales agent. The company develops and produces films, then partners with international sales agents and distributors to bring them to market. For example, Whisky Romeo Zulu (2004) was distributed internationally by MK2 Diffusion, while El Otro (2007) had international sales handled by Celluloid Dreams (France).
The company's production services division operates on a service-fee model. International productions shooting in Argentina hire Aqua Films for pre-production coordination, location scouting, customs clearance, crew hiring, post-production supervision, and work permit processing. This services division generates revenue independent of the company's own productions.
Aqua Films does not maintain its own theatrical distribution infrastructure. The company relies on partnerships with Argentine distributors (for domestic release) and international sales agents (for worldwide rights). This structure allows the company to focus on development and production while outsourcing distribution to specialized partners.
Example Titles They've Released
Aqua Films has produced feature films that have screened at major international festivals. The production catalog includes:
- Garage Olimpo (1999, dir. Marco Bechis) - political thriller about Argentina's military dictatorship. Screened in competition at Venice. Executive produced by Aqua Films.
- Esperando al Mesias (2000, dir. Daniel Burman) - drama about identity and family in Buenos Aires' Jewish community.
- Whisky Romeo Zulu (2004, dir. Enrique Pineyro) - investigative film about airline safety violations leading to the LAPA crash. Produced by Aqua Films. Premiered at Toronto 2004. Won Best Film at Havana Film Festival and Biarritz International Film Festival.
- Cama Adentro (2004, dir. Jorge Gaggero) - drama about the relationship between an upper-class woman and her maid, starring Norma Aleandro.
- Fuerza Aerea Sociedad Anonima (2006, dir. Enrique Pineyro) - follow-up documentary investigating the Argentine Air Force.
- El Otro (2007, dir. Ariel Rotter) - Rotter's second feature. Executive produced by Veronica Cura, produced by Enrique Pineyro and Christian Baute. Screened in competition at Cannes. Won the Jury Grand Prix Silver Bear and Silver Bear for Best Actor at Berlinale 2007. Budget: $500,000.
- Bye Bye Life (2008, dir. Enrique Pineyro) - documentary.
- El Rati Horror Show (2010, dirs. Enrique Pineyro, Pablo Tesoriere) - documentary about judicial corruption. Declared of Cultural and Social Interest by the Buenos Aires legislature. Submitted as evidence to the Argentine Supreme Court, which ultimately absolved the film's subject, Fernando Carrera.
Deal Structure Reputation
Aqua Films operates on a co-production financing model. The company does not provide full production funding. Instead, it structures co-productions using INCAA subsidies, bilateral co-production treaties, and international partner financing. For El Otro (2007), the $500,000 budget was backed by Selavy Productions (Germany) and Celluloid Dreams (France), with Aqua Films providing the Argentine production infrastructure.
The company's production services division charges service fees for international productions. These fees cover customs clearance, crew hiring, location scouting, and work permit processing. Argentina's production costs are lower than in North America or Europe, making the services division competitive for international shoots.
Aqua Films does not advance MGs or acquire completed films. The company develops projects from the ground up, securing financing through a combination of INCAA subsidies, co-production treaties, and international partner funds. Filmmakers approaching Aqua Films should have a project at development or early production stage, not a completed film seeking distribution.
Typical Acquisition Profile
Aqua Films develops and produces its own projects rather than acquiring completed films. The company's production slate focuses on politically and socially engaged cinema, particularly through Enrique Pineyro's documentary work investigating institutional corruption and safety failures in Argentina.
The company takes on projects with the following profile:
- Argentine-authored fiction and documentary features with political or social themes
- International co-productions structured through bilateral treaties (Argentina has treaties with France, Germany, Italy, Spain, and other countries)
- Projects eligible for INCAA subsidies and tax incentives
- Productions requiring Argentine locations, crew, or post-production services
Aqua Films does not accept open submissions for production. The company develops projects internally through Enrique Pineyro and Veronica Cura, or through established industry relationships. International producers seeking Argentine co-production partners should contact the company directly with a developed project package.
Recent Slate / Acquisition Activity
Aqua Films (now Anchoita Films) has shifted focus in recent years. Enrique Pineyro has expanded into theater and hospitality, opening the Anchoita restaurant (2018), Panaderia Anchoita (2020), and Anchoita Cava (2021) in Buenos Aires. His one-man theater show Volar es Humano, Aterrizar es Divino has run for 13 consecutive years at Buenos Aires' Maipo and Coliseo theaters, with international dates in Madrid, Milan, and other cities.
The company's most recent film productions remain the documentaries and features listed above. The Anchoita Films website lists current productions including Semillas Antiguas del Futuro and the ongoing theater projects. The company continues to provide production services for international productions shooting in Argentina.
Argentina's film industry faces significant challenges under President Javier Milei's administration, which has cut arts funding. These cuts affect INCAA subsidies and the broader Argentine film production ecosystem. Aqua Films' co-production model, which relies on international partner financing alongside INCAA support, faces increased pressure as domestic funding decreases.
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What Filmmakers Should Know
Aqua Films (now Anchoita Films) is a production company, not a distributor or sales agent. The company develops politically and socially engaged Argentine fiction and documentary features through co-production financing. International producers seeking an Argentine co-production partner should contact the company with a developed project package, not a completed film. The company's strength lies in institutional knowledge of INCAA subsidies, bilateral co-production treaties, and Argentine production logistics. Aqua Films also provides production services for international shoots in Argentina, including customs clearance, crew hiring, and work permit processing. Argentina's production costs remain lower than in North America or Europe, though inflation and government funding cuts under the Milei administration create budgeting challenges. Contact: verocura@aquafilms.com.ar, +54 11 4802 4218.
See Also
For Latin American international sales representation, see Latido Films in this directory. For the BAFICI festival's role in Argentine distribution, see the Film Festivals Directory. To model co-production financing structures, use the Indie Film Budget Calculator. For how international co-production treaties work, see Distribution Deals Explained.
