Creative England doubles production fund to £1m
Creative England has doubled its Lottery-based Production Fund from £500k to £1m. The organisation has also increased its individual awards to a maximum of £200k per project, which will now include feature films with budgets of up to £2m.
While continuing to support projects with strong regional elements, Creative England is also planning to offer support on pre-sales and UK tax credits through its Regional Growth Fund for certain awarded productions.
The news comes six months after Richard Holmes was appointed senior film executive of production. The industry veteran said: "We're immensely proud of the investments we've made to date - 45 Years and Light Years are both wonderful examples of high quality, festival-focused films, and we have seen some equally impressive documentaries. With this increased funding we want to create more opportunities for filmmakers in what we all know is a tough financial climate for independent film.
"We also want to encourage filmmakers to come forward with projects that are intended to engage with broader audiences such as comedies, thrillers and horror. These films are hard to get right, of course, but our Production Fund is there to take risks and invest in projects that are looking to experiment with innovative financial models."
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