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05/01/2010
Movies To Gross £1bn
The UK Film Council has said that the final 2009 box office receipts for the UK and the Irish Republic are on track to top £1 billion for the first time.
With a figure that is up from £935 million in 2008, there seems to be little sign of recession in the movie world.
However, funding remains hard to achieve, with many banks withdrawing from backing movie projects - but eaving an opportunity for specialist funds to step in and make potentially handsome returns for wealthy investors.
Banks that were active in film finance have reduced or halted activity - including Barclays, Royal Bank of Scotland, Bank of Ireland and Allied Irish Bank.
For them, what was an attractive business in the good times is now considered a high-maintenance niche activity as banks repair their balance sheets and focus on basic business.
The Aegis Film Fund was therefore launched in April 2009 by a group of financiers to invest an initial £50 million in films, including Sex & Drugs & Rock & Roll, the biopic of Ian Dury just released, and St Trinian's 2.
Aegis aims to provide a return of 15% to its investors and already knows it will get all of its money back for St Trinian's 2 and Sex & Drugs & Rock & Roll.
But, film finance is a drawn-out, specialist business. Once a producer has an idea or a script, they sign up a cast and crew and then employ an agent to sell the rights to distributors in a few markets and make an estimate of what can be made from unsold territories.
They may also get seed funding from the UK Film Council, the BBC or Channel 4 before seeking further loans secured against presales, unsold rights and government tax credits.
(BMcC/GK)
With a figure that is up from £935 million in 2008, there seems to be little sign of recession in the movie world.
However, funding remains hard to achieve, with many banks withdrawing from backing movie projects - but eaving an opportunity for specialist funds to step in and make potentially handsome returns for wealthy investors.
Banks that were active in film finance have reduced or halted activity - including Barclays, Royal Bank of Scotland, Bank of Ireland and Allied Irish Bank.
For them, what was an attractive business in the good times is now considered a high-maintenance niche activity as banks repair their balance sheets and focus on basic business.
The Aegis Film Fund was therefore launched in April 2009 by a group of financiers to invest an initial £50 million in films, including Sex & Drugs & Rock & Roll, the biopic of Ian Dury just released, and St Trinian's 2.
Aegis aims to provide a return of 15% to its investors and already knows it will get all of its money back for St Trinian's 2 and Sex & Drugs & Rock & Roll.
But, film finance is a drawn-out, specialist business. Once a producer has an idea or a script, they sign up a cast and crew and then employ an agent to sell the rights to distributors in a few markets and make an estimate of what can be made from unsold territories.
They may also get seed funding from the UK Film Council, the BBC or Channel 4 before seeking further loans secured against presales, unsold rights and government tax credits.
(BMcC/GK)
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13 October 2003
Lottery-backed UK films net £125m in receipts
National Lottery investments in the UK film industry has generated box office takings of over £125 million, new figures released today have revealed. Overall, £13 million of Lottery funding invested by the UK Film Council has generated £125.
Lottery-backed UK films net £125m in receipts
National Lottery investments in the UK film industry has generated box office takings of over £125 million, new figures released today have revealed. Overall, £13 million of Lottery funding invested by the UK Film Council has generated £125.
12 January 2012
UK Film Urged To Go Mainstream
Comments made by Britain’s Prime Minister, that urged the UK film industry to become more "mainstream" ahead of a review on the UK’s film policy next Monday, have been met with criticism.
UK Film Urged To Go Mainstream
Comments made by Britain’s Prime Minister, that urged the UK film industry to become more "mainstream" ahead of a review on the UK’s film policy next Monday, have been met with criticism.
31 March 2011
Mayor Confirms Funding For Film London
Film London has announced that the Mayor of London will continue to invest in the agency. This commitment of funding ensures the UK capital has a dedicated film and media agency supporting and driving growth in London's production sector. With funding in place, Film London will continue to deliver its core activities.
Mayor Confirms Funding For Film London
Film London has announced that the Mayor of London will continue to invest in the agency. This commitment of funding ensures the UK capital has a dedicated film and media agency supporting and driving growth in London's production sector. With funding in place, Film London will continue to deliver its core activities.
23 April 2004
Blueprint unveiled for film-friendly London
London’s new film and media agency, Film London, has unveiled a variety of measures aimed at making the Capital more film-friendly.
Blueprint unveiled for film-friendly London
London’s new film and media agency, Film London, has unveiled a variety of measures aimed at making the Capital more film-friendly.
29 November 2010
UK Industry Bankrolls Inbound Films
An increase in National Lottery funds and an emphasis on funding from within the UK movie industry itself are to bankroll the British Film Institute (BFI) as it assumes the former international marketing role of the UK Film Council (UKFC).
UK Industry Bankrolls Inbound Films
An increase in National Lottery funds and an emphasis on funding from within the UK movie industry itself are to bankroll the British Film Institute (BFI) as it assumes the former international marketing role of the UK Film Council (UKFC).
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