Stats show healthy film/TV production spend
Latest stats released by the BFI present a very healthy picture of film and TV production in the UK, with UK spend from film production the second highest on record.
In 2015, a total of £1,410m was spent on feature films with 201 beginning principal photography during that time. Although this is a slight drop from the previous year (2014 showed a film spend of £1,497m) it is still a very healthy overall picture.
Of the 201 features that entered production in in 2015, 47 were inward investment projects, and accounted for a whopping 83% of the overall UK spend – an indicator of the massive budgets of some of the overseas projects that utilise UK crew, studios and locations.
Within the UK film sector, spend on independent films went down from £430m in 2014 to £316m in 2105. And domestic UK spend also showed a decrease of 7% on the previous year, at £198m across 124 productions.
High-end TV drama
High-end TV drama continues to perform well, showing a huge 20% increase on 2014; in real terms a spend of £759m.
In 2015, cameras began to roll on 82 high-end TV dramas. In this instance, domestic production was the majority contributor to the overall figure, weighing in at £380m, considerably higher than the £331m in the previous year.
Co-production and inward investment remain vital to TV production however, and also showed a rise from 2014’s figures: £279m contributed to overall high-end drama TV spend, compared to £302m the year before.
It’s worth bearing in mind that figures are fluid to a point, due to the time lag in obtaining detailed information.
Amanda Nevill, CEO of the BFI, said: “With spend from film production over £1.4 billion… today’s numbers show a golden age of British film continuing – and underlines film’s important contribution to the UK economy. It’s significant that a wide range of fantastic British independent films won the hearts and minds of audiences in a hugely competitive year, but it’s clear that the market is still tough for the makers and distributors of independent and specialised films…”
Indubitably, the attractive tax relief on offer is a major lure for overseas filmmakers and producers, with every film production supported by the scheme generating almost £12.50 for every £1 spent in relief.
However, none of this would be possible without the expertise of UK crew across the country, great locations and state-of-the-art studios; overall it’s no great surprise that inward investment is so strong.
Adrian Wootton, chief executive of the British Film Commission and Film London, said: “2015 was another standout year for the UK film and television industries, with our technical expertise, creative skills, talent and world-class infrastructure representing an ongoing draw for some of the world’s biggest names and most successful franchises.
"The figures also show that the tax relief for high-end television is really bedding in and reaping incredible dividends for our economy and also for our industry itself in terms of boosting infrastructure and opening up new business opportunities.”
To see the BFI’s full report, click here.
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