2014 shaping up to be another bumper year for UK film
Figures reveal continued growth of UK film as we celebrate the launch of the 58th BFI London Film Festival.
Figures published today reveal that the UK is the third largest film market in the world, and its talent, locations and facilities are more in demand than ever before. The latest available statistics show that total UK spend for film so far this year is over £700 million, with £600 million coming from inward investment, signalling a strong start to the year and a significant increase in activity in comparison to 2013.
Government initiatives such as tax relief are driving this continued growth in the film industry. The UK’s creative industries make a tremendous contribution to economic growth and is estimated that for every £1 invested through the Film Tax Relief, £12 is generated for UK GDP.
Latest statistics from the BFI (British Film Institute) show:
- UK film industry turnover is £7.3 billion with exports of £1.3 billion and a trade surplus of £789 million
- UK film box office revenues have exceeded £1 billion for three successive years
- UK films took $4.1 billion at the global box office in 2013, an 11% share of the world market
- Total UK film production spend in 2013 was £1.1 billion with £860 million from inward investment productions, up 28% on the previous year
With film business booming across the UK, London has emerged as a global hub for film production. It is now one of the world’s busiest cities, competing only with New York and LA.
Latest figures from screen agency, Film London reveal:
- The film industry supports almost 90,000 jobs in the capital, and directly generates approximately 33,000 full-time jobs in London
- London annually records around 18,000 filming days
- There is an average of 50 crews filming on the streets of London on any given day
- More feature films were shot in London in 2013 than ever before, and 2014 is shaping up to be another strong year
However, London is not only a desired place to create film, it is also a wonderful location to celebrate it. Now in its 58th year, the BFI London Film Festival (LFF) is one of the world’s leading film festivals driving economic value and profile to the UK film industry. The Festival is considered a prestigious showcase for Studio and independent films and provides an important platform for key titles to gain exposure as they enter the film award season.
Culture Minister Ed Vaizey said:
The BFI London Film Festival provides the ideal platform to celebrate the UK film industry, which is one of our biggest success stories.Government has worked hard to create the right environment for the sector to flourish and it’s working – film makers around the world are flocking to the UK, and to London in particular. The message is clear, and it’s being heard. The UK is the best place to make film.
Further information
- Lights, Camera, Action! Ed Vaizey blogs on the UK’s thriving film industry
- 58th BFI London Film Festival
- Follow the Festival on Twitter using the #lff hashtag