Inward investment boosts record UK film spend
A report published by the British Film Institute today (2 November) shows that the total UK spend for film in the first nine months of this year was a record-breaking £1.8bn, with a clear majority of this coming from inward investment features.
A massive £1.6bn of the total spend came from inward investment features, which was up on the same period last year (£1.1bn) with £175m spent on domestic film projects.
In terms of the number of films beginning principal photography in Q1-Q3, another record was broken, but in the opposite direction. At 160, this is the lowest since analysis began, although this figure is likely to be revised upwards as in previous years, as more information becomes available.
Inward investments projects which set up UK shoots in Q3 included Disney's live-action version of Aladdin and Mamma Mia! Here We Go Again, while 92 were domestic films such as Johnny English 3.
Another downward turn came in the number of co-production features, such as Lenny Abrahamson's period ghost story The Little Stranger.
Spending on high-end domestic TV programmes that began principal photography in the UK in Q1-Q3 totalled £228.7m, with inward investment and co-production projects contributing £287.6m.
The combined figure of £516m represents 62 high-end TV projects setting up in the UK in the first nine months of this year, of which 33 were domestic programmes.
Fourteen animation programmes began production over the same period, spending £45m, of which £33m was domestic.
Stats graph: BFI