BFI stats show inward investment is crucial
The latest half-year stats from the BFI on film and other screen sector productions show that the first six months of 2015 have proved a healthy reminder of the importance of attracting inward investment to the UK film industry.
During January - June this year, £518m of the total £594m spent on film production was from inward investment, with £61m coming from domestic feature film production expenditure. Of the latter, more than 90% came from 24 films with budgets of over £500,000.
The figures also demonstrate the difference in size of the budgets of the visiting productions - of the 79 features which began shooting in the last six months, 21 were from inward investment and 12 were co-productions, which even combined, is well under the 46 domestic features which started principal photography.
High-end television production in the UK
The continuing significance of high-end drama again echoes the sizeable budgets of the inward investors as well as the sheer amount overall of such projects.
Of the 30 high-end TV programmes which began filming Jan—June 2015, 19 were domestic, contributing £151m. Foreign investment productions, which at 11 productions did not even add up to two-thirds of their UK counterparts, spent £128m in the UK.
Although the overall picture for the year as a whole (July 2014-June 2015) shows inward investment is down slightly at £1061m - compared to from £1254m in the same period last year - the impressive totals nevertheless underline the importance of attracting filmmakers and TV producers from outside the UK with top quality facilities, talent and tax incentives.
But of course the impact on the economy from home grown features and dramas remains crucial, so let's keep filling the studios and providing world class crew and great locations.
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