04/12/2003

According to the report ‘Film Production In Ireland-Audiovisual Review 2003’ just published by the Audiovisual Federation of IBEC (Irish Business and Employers Confederation), 2003 is set to be the Irish audiovisual industry’s most successful year with an estimated €234m spend on feature film and major TV dramas, an 84,2% increase on 2002. The total overall output of audiovisual production should reach €304m, up 60% on 2002, with spending on Irish goods and services estimated at €160m for 2003 against €122.6m in 2002.

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The report is based on an analysis of 148 productions made in 2002, including acclaimed feature films In America, Song For a Raggy Boy, and Veronica Guerin, and animated productions Derrick and The Oscar Wilde Trilogy.

The figures for 2002 also show that since 1993, revenue from audiovisual production in Ireland has provided a significant net return to the Exchequer valued at €21.2m in 2002, a clear indication of the benefits of the film tax relief Section 481 for the local economy as stressed by Octagon Films’ James Flynn, Chairman of the Audiovisual Federation’s Film Financing Committee: “The Section 481 tax incentive had a large bearing on the location in Ireland of King Arthur -the most expensive film ever shot in Ireland with a €115m budget- and on other projects, such as Ridley Scott’s Tristan and Isolde. A long term commitment to Section 481 will greatly assist the profile of Ireland in the US and lead to continued inward investment into the Irish economy”.
The tenth IBEC Audiovisual Federation report on Film production in Ireland compiled by IBEC’s research and information service is available on the IBEC website www.ibec.ie