Member Article

Film experts call for substantial investment in British independents

A Government-lead panel of film industry experts have published a report which identifies lack of investment in film by broadcasters.

The group, chaired by Culture Minister Ed Vaizey and Lord Chris Smith, said the UK’s tax relief provisions were attractive to Hollywood investors, but the independent sector was not as strong.

Problems were identified in the financing and distribution of independent films, and the report suggests the sector relies too heavily on a small number of high grossing titles each year.

The panel called for several broadcasters to up their investment by the end of 2015.

It would like to see BSkyB investing at least £20 million, ITV £10 million, and Channel 5 £5 million per annum in original feature film production, as well as acquiring a greater number of British and specialised films.

Elsewhere the report recommended bringing the operations of the British Film Commission under the ambit of UK Trade and Investment so as to promote the UK’s offer to key markets.

Chair of the Film Policy Review Panel, Lord Chris Smith said: “The Golden Globe, Bafta and Oscar nominations have shown us yet again the strength of British film talent and creativity.

“And in recent years, we’ve had enormous success in attracting the rest of the world here to make their movies.

“But there’s still more to do to make sure our own independent British film-makers can make their movies, develop audiences, and sell their films around the world.

“That’s what lies at the heart of this follow-up report. A lot has been done since we last reported, two years ago.”

Culture Minister Ed Vaizey added: “Ensuring the film industry stays fighting fit is vital and my thanks go to the Panel. I hope all parties involved will begin to address these follow up recommendations in earnest.

“The creative industries generate £8 million pounds an hour for the UK economy and these steps will help ensure the UK film industry continues to punch well above its weight.”

This was posted in Bdaily's Members' News section by Tom Keighley .