BFC PRESS RELEASE: Tuesday 3 February 2015

UK Attracts Record Inward Investment

 

  • £1.2bn UK spend from international feature films, building on last year’s figures by 40%

  • £615m from high-end television, of which £287m is inward investment

  • Star Wars: The Force Awakens, Avengers: Age of Ultron, Game of Thrones and 24: Live Another Day contribute to UK’s busiest year for international production

  • Reputation as a world-class production destination continues to grow as Tim Burton’s Miss Peregrine’s Home for Peculiar Children confirmed for UK shoot

  • Tax relief enhancement yields results attracting major VFX titles including Warner Bros.’ Geostorm

  • Wales shoot confirmed for high-profile US pilot The Bastard Executioner

LONDON – Tuesday 3 February 2015: The British Film Commission (BFC) welcomes independent statistics published today by the BFI’s Research and Statistics Unit which show production spend in the UK last year reached record-breaking levels. Remaining hugely popular with large-scale productions from around the world, combined UK spend from international film and television productions reached £1.5bn, significantly boosting the economy and job creation.

Adrian Wootton, Chief Executive of the British Film Commission and Film London says: “Recent Award nominations and wins have proved 2014 was a fantastic year for UK film and talent, and these statistics show what an incredible year it was for our industry. The significant number of ambitious, large-scale productions choosing our skills, our facilities and our locations is vital for the UK economy. But in addition, our success in attracting these productions is driving our industry forward and providing a vibrant environment in which to train our crew and talent of tomorrow. We thank the Government for their ongoing commitment in allowing us to maintain our competitive edge in a fiercely competitive global market and look forward to working with the industry to secure and support another roster of exciting international projects in 2015.”

Spend on feature films reached £1.4bn, with over £1.2bn generated from 36 inward investment titles, representing 85% of all feature film spend, and up by 40% on last year’s figures. The UK’s world-class talent and facilities are proving increasingly popular, and the figures are boosted with a number of major globally anticipated blockbusters – including Star Wars: The Force Awakens, Avengers: Age of Ultron, and Bond 24: Spectre – choosing to shoot in the UK in 2014. Other features shot in 2014 include Warner Bros.’ Pan starring Hugh Jackman, Paramount’s Mission: Impossible 5, Millennium Films’ third UK-shot title of the  year, London Has Fallen starring Gerard Butler and Morgan Freeman, and Lionsgate’s Now You See Me: The Second Act starring Mark Ruffalo and Daniel Radcliffe.

2014 also saw major features increasingly taking advantage of recent enhancements to the Film Tax Relief by maximising post and VFX in the UK even when shooting elsewhere, for example, Warner Bros. sci-fi epic Geostorm.

Twentieth Century Fox’s Miss Peregrine’s Home for Peculiar Children, directed by Tim Burton, the Untitled Standalone Star Wars Project directed by Gareth Edwards and the first of J.K Rowling’s trilogy Fantastic Beasts and Where to Find Them directed by David Yates, are just some of the titles confirmed to shoot in the UK this year.

The High-end Television Tax Relief has led to a surge in production in 2014 resulting in a total UK spend of £615m , and allowing the production of major titles such as Wolf Hall to remain in the UK. There have been increases too in UK-US co-productions such as HBO/BBC’s The Casual Vacancy and internationally financed shows, such as Fox TV’s 24: Live Another Day.

Since its launch in 2013, the High-end Television Tax Relief has delivered £848.3m for the UK economy, much of which would have been spent outside the UK previously. International investment has been a major contributor, with £436.6m (51%) coming from projects with international finance. The UK’s nations and regions including Northern Ireland, south west England and Wales have been able to successfully establish high-end television production hubs on the back of the incentive. 2014 saw Game of Thrones return to Northern Ireland for a fifth season, with ABC’s Galavant in Bristol and Sky’s Fortitude shooting in London, all of which contributed to a total of £287m of UK spend. With shows already confirmed for this year – including Fox 21, Imagine and FX drama pilot, The Bastard Executioner, which will shoot in Wales from March – 2015 is set to be equally busy.

The BFC works to attract major productions to the UK. With offices in the UK and US, it provides support from the earliest stages of development through to completion. 2014 has seen the BFC give more support than ever to major productions, from tax relief guidance, crew and studio availability, location scouting support and troubleshooting to sourcing alternative stage space.  And crucially, the BFC has continued its work in promoting the British film and television industry and tax reliefs in the UK and internationally.

To meet the demand of incoming production, significant investment is being made in increasing studio capacity across the UK. 169,000 sq ft was recently added to state of the art Warner Bros. Studios Leavesden with an additional 70,000 sq ft now on line at Pinewood Wales. Plans for further development at Belfast’s Titanic Studios are in the works and Pinewood’s flagship Studio plans to double in size, with the first new stages available from 2016. Significant investment is also being made in upskilling and training crew for film, television with £16m available for training through Creative Skillset’s Skills Investment Fund.

-ENDS-

 

For further press information, please contact:

Colette Geraghty, Head of Film Promotion & Culture

T: +44 (0) 20 7613 7680

M: +44 (0) 7917 437 699

E: colette.geraghty@filmlondon.org.uk

or

Alex Deller, Senior Press & Communications Manager

T: 020 7613 7682

M: 07787 254 250

E: alex.deller@filmlondon.org.uk

 

Notes to Editors

Download the BFI Research and Statistics Unit releases covering the UK box office in 2014, film production in the UK in 2014, and British film certification in 2014 here: http://www.bfi.org.uk/education-research/film-industry-statistics-research/official-statistics-release-calendar

 

Feature Films

 

Table: UK spend of features produced in the UK, 2008-2014, £ million

2008

2009

2010

2011

2012

2013

2014

Co-productions

51.7

38.6

76.3

52.9

74.8

57.4

37.4

Domestic UK features

237.1

242.2

201.9

201.2

259.9

156.0

199.9

Of which budget < £500,000

15.0

18.0

24.8

19.6

20.0

17.7

12.4

Of which budget ≥ £500,000

222.1

224.3

177.0

181.6

239.9

138.2

187.5

Inward investment

434.4

834.6

1,012.1

1,071.0

710.0

879.4

1,233.3

Total without films with budget <£500,000

707.4

1,096.2

1,236.7

1,303.9

1,020.0

1,073.3

1,457.2

Total

723.1

1,115.4

1,290.2

1,325.2

1,044.7

1,092.8

1,470.6

 

Source: BFI

Data are rounded to the nearest £0.1m so may not sum exactly to the totals shown.

Films are allocated to the calendar year in which principal photography commenced.

Films at all budget levels are included in this analysis. For pre-2008 data restricted to films with budgets of at least £500,000 see the BFI Statistical Yearbook 2014 www.bfi.org.uk/statisticalyearbook2014.

 

Table: Number of features produced in the UK, 2008-2014

2008

2009

2010

2011

2012

2013

2014

Co-productions

30

38

37

47

46

53

32

Domestic UK features

232

259

306

275

268

225

154

Of which budget < £500,000

149

170

227

186

195

160

80

Of which budget ≥ £500,000

83

89

79

89

73

65

74

Inward investment

32

37

30

37

43

45

36

Total without films with budget <£500,000

138

152

130

152

134

138

135

Total

294

334

373

359

357

323

222

 

Source: BFI

See notes to Table 1.

 

High-end Television

 

Table 9 UK spend and number of high-end television programmes produced in the UK, 2014

UK spend £m

Number

Co-production

19.0

5

Domestic UK HETV

309.5

60

Inward Investment

286.7

22

Total

615.2

87

 

Source: BFI

HETV are allocated to the period according to the date principal photography commenced.

 

About the British Film Commission

The British Film Commission (BFC) is the national body responsible for maximising and supporting the production of international feature films and high-end television in the UK. With offices in the UK and the US, the BFC provides free professional advice to help make productions in the UK a reality.

The BFC has commercial sponsors, who form the membership of the agency’s innovative public/private partnership: Disney, Harbottle & Lewis, Pinewood Studios Group, Saffery Champness, Warner Bros. UK and its UK-based film production operations, BBC Worldwide, Coutts, Double Negative, Elstree Studios, Framestore, MPC and Working Title Films.

The British Film Commission is managed by Film London through a public/private partnership funded by the Department for Culture, Media and Sport through the BFI, it also receives funding from UK Trade and Investment.

www.britishfilmcommission.org.uk

www.filmlondon.org.uk