UK spending down by 30% in 2004
by Annika Pham
132 films were made in the UK in 2004, 41 less than in 2003, and total investments fell by 30% from £1.15 billion in 2003 to £807.90 million last year according to figures published today (January 20th) by the UK Film Council.
For the UK support film body, this downward trend was “expected” as 2003 was an exceptional record year and 2004 was still the second best year ever with spending 47% up on 2002.
“While lower than the record film production spending of 2003, these figures show that the wealth of talent in the UK film industry, together with our outstanding studios and facilities and our fiscal incentives, continued to attract a huge amount of international production in 2004”, said Steve Norris, Head of the UK Film Council’s International Department which compiled the report. Inward investment from foreign companies, including US studios was valued at £476.92m and an extra £71.57m was generated from films co-produced with the UK.
However the volume of spending on 100% UK films was dramatically lower (almost 60%) in 2004 with £117.81m compared to £277m in 2003 and £156.36m in 2002“The reduction in indigenous (solely British) film production is the product of a number of factors, including the long-term trend towards co-production of films in more than one country, and changes to financing arrangements during the year undoubtedly had an effect “explained Norris.
Indeed £141.61m was spent on co-productions in the UK involving more than one country, which was 13% better than in 2002 with £128.23m.
Among the high profile films made in 2004 were Harry Potter and The Goblet of Fire, the latest installment from the Harry Potter franchise, Working Title’s Pride and Prejudice with Keira Knightley and Shooting Dogs by Michael Caton-Jones with John Hurt.
Did you enjoy reading this article? Please subscribe to our newsletter to receive more stories like this directly in your inbox.