The British Film Industry is a great success story. A look at this year’s film award nominees and winners shows that British Film and British Film talent is making a bit name for itself, with Independent film coming out on top. 2014 was a record-breaking year for UK Independent film: according to the BFI Research and statistics unit, for the first time ever, the market share for UK Independent film (almost 16%) was higher than that of the US studio-backed UK Films!
However, the film industries success isn’t just about the Hollywood premiers, Red Carpets and Golden awards, British film has so much more to offer. According to Culture Secretary Sajid Javid “The UK’s film, TV and video games industries are amongst our nation’s biggest success stories.” Evidence of this can be seen in a recent report by Olsbery.SPI and Nordicity which shows that Tax reliefs for the UK film, TV and animation industries are generating billions of pounds for the UK economy.
According to the report, the film industry contributed revenues of £1.1 billion in 2013. The film industry supports a significant amount of jobs in the UK, helping to encourage creativity and innovation year on year.
The world of Film is also a successful marketing medium for brands to promote their products; from watches, alcohol and sweets to cars and laptop brands. Olsberg’s report estimates that the value of product placement revenue in UK films is £55 million.
The UK has a vibrant tourism economy, something else that the film industry has contributed towards. Films such as Harry Potter, Notting Hill, and most recently Paddington have drawn many tourists to the UK. All eager to visit the spots where their favourite films were shot, collecting souvenirs as they go such as Paddington’s Guide to London which was re-published last year following the release of the film. Paddington was the highest grossing UK independent film of the year (2014) ranking third highest in the total box office poles in the UK.
The film industry has a lot to offer, especially Independent film. British Independent films are not financially backed by the big studios, that’s what makes them independent. Instead, they need to raise equity to make the film in other ways, such as offering film as an investment opportunity. If last year is anything to go by, there couldn’t be a better time to be part of this success story by investing in British film.
For more information, Sign up for the Film Investing newsletter today!