London production sector set for £9.5bn investment boost

London production sector set for £9.5bn investment boost

New figures out today (19 June) estimate that £9.5bn of investment in London is expected to be generated over the next five years as a result of Film London support for film, TV and animation production.

The predicted amount of benefit was reached by modelling the future impact of Film London activities from 2023/24 to 2028/29. The projected maximum total value of investment in London over the five year period was over £9.5bn, with an additional GVA for the capital of over £1bn.

This builds on figures for the previous five years, which found that over £4bn was invested in London as a result of Film London activities.

The figures have been released to coincide with the organisation’s 20th anniversary, with support from Barbara Broccoli, Andy Harries, Riz Ahmed, Mike Leigh and BFI CEO Ben Roberts, among others.

Speaking ahead of an anniversary event held today (19 June), the mayor of London, Sadiq Khan, said: “I’m proud London is a global centre for film, TV and animation, with this successful industry helping to drive forward our economy.

“By making it easier for filmmakers to shoot here and nurturing the next generation of diverse talent, Film London has helped to attract significant investment from across the globe over the last 20 years. I look forward to Film London continuing to build on this success, helping to build a better, more prosperous London for everyone.”

Daniel Battsek, chairman of Film London, added: “As today’s figures and 20 year landmark demonstrate, Film London punches far above its weight in terms of impact. Crucially, Film London’s work and vision is always anchored in talent.

“Whether the vivid creativity of its Artists Moving Image Network, the impressive Equal Access Network schemes like Breaking the Glass Ceiling, or the boundary-pushing work of their Talent Development and Production, Film London is constantly innovating to stay relevant, raising the profile of areas otherwise under the radar.”

Chief executive of Film London Adrian Wootton remarked: “These latest investment impact figures demonstrate the huge value of our screen industries to London and the UK’s economic health and social well-being.

“They underline the ongoing impact and relevance of Film London as the capital’s screen agency, supporting and growing film, TV, animation and video games sectors in London. But chiefly, they reflect the collaborative effort, vision and innovative spirit that characterises Film London.

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