01/02/2013 - Some cheer as investment in domestic films up 16%

The latest statistics released by the British Film Institute reveal that the total investment in UK-based film production in 2012 was £927 million, a 29% drop on 2011’s spectacular £1.29 billion. However, within this figure there was an increase in the amount of investment in UK domestic films totalling £223.5 million, a 16% increase on 2011’s £192 million. This good news also carries a sting in the tail - fewer films went into production – 159 in 2012 compared to 238 in 2011.

Cinema admissions increased by 0.5% in 2012 to reach 172.5 million with box office collections of more than £1 billion. The UK remains popular with international productions, generating £631 million of investment from 26 films, nearly 70% of all feature film production spend.

Culture Minister Ed Vaizey said, “The great facilities and skilled workforce in the UK, along with the Film Tax Relief, are continuing to attract British and international filmmakers, helping ensure that this dynamic industry will continue to be an important vehicle for driving economic growth.”

Amanda Nevill, CEO of the BFI, said, “Although there was a dip in inward investment in 2012, an upturn in the latter part of the year coupled with bullish private investment in response to global demand for our services and skills signals buoyancy and confidence in the future.”

Maintaining the general tenor of cautious optimism, Iain Smith, Producer and Chair of the British Film Commission, added, “Whilst there has been a reduction in the levels of global feature film production, there is no doubt the UK has maintained its hard won market share.”