A much-needed film funding reform in Germany has become critical for the local industry and for Berlin’s Studio Babelsberg in particular, as it welcomes new management and bids farewell to longtime head of production Henning Molfenter, who has launched a new company.

Studio Babelsberg appointed former Warner Bros. exec Joerg Bachmaier as new CEO in November and in December brought in industry veteran and producer Marcus Loges to succeed Molfenter as managing director of Studio Babelsberg Motion Pictures.

The studio has remained active with such recent productions as Tom Tykwer’s Berlin Film Festival opener “The Light,” Wes Anderson’s “The Phoenician Scheme” and Robert Schwentke’s thriller “Control,” starring James McAvoy and Julianne Moore. It’s starting the new year with three series productions on its backlot: Season 2 of Hulu’s “Nine Perfect Strangers,” “Ten Percent” for Disney+ Germany and Season 5 of local hit “Babylon Berlin.”

Yet it...