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04/02/2014

UK Film Investment Increases 14%

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Investment in UK film production rose by 14% to £1.075bn in 2013, indicating a marked rise from £945m in 2012, according to statistics released by the British Film Institute (BFI).
£868m of the total was generated by 37 major international films that made the UK their production base.
New tax reliefs created by the government to encourage film production across the UK have delivered over £276m in production spend across television and animation programmes.
The year also saw the combined total takings for UK cinemas reach over £1bn for the third consecutive year.
UK market share of box office was 21%, led by Les Misérables, which grossed £41m, while Philomena, starring Dame Judi Dench and Steve Coogan, was the biggest grossing UK independent film of 2013, taking almost £11m.
Chancellor of the Exchequer George Osborne said: "Today's figures highlight the valuable cultural and economic contribution that our creative industries make to the UK. These fast growing sectors are creating jobs across the country and each new job means security for another family.
"I want to build on this success and showcase the world class talent this country has, encouraging more films and TV programmes to be made here."
Amanda Nevill, CEO of the BFI, added: "Film and television is a global business and these statistics show a vibrant and dynamic picture, demonstrating that the UK is a leading international player in this sector.
"We are grateful for the government's ongoing recognition of the sector's growth potential and tax reliefs for film, high-end TV and animation, which ensure we remain one of the most attractive and competitive places in the world to do business.
"The BFI's role is to maximise these opportunities, and we are actively engaged with government and all our partners in programmes to capitalise on all the opportunities for further growth in established territories such as the US and Europe, and the important emerging territories such as China and Brazil.
"Internationally, our filmmakers, talent and creativity are wowing audiences and attracting critical acclaim at festivals around the world, and have garnered a crop of well deserved awards nominations.
"However, these figures show that there is still work to be done to grow audiences for British film at home – something which lies at the heart of our Film Forever strategy and is an economic and cultural imperative for the future success of British film."

Image - courtesy of BFI National Archive

www.bfi.org.uk
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