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ISBN: 1-84168-110-5

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Executive Summary

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EXECUTIVE SUMMARY

This report looks at the UK film industry in terms of both the UK’s indigenous filmmakers and the foreign film companies which also make films here. In terms of investment, the UK is Europe’s largest film industry, although in terms of output it is Europe’s fourth largest, after France, Italy and Spain. The UK film industry produced 92 films in 1999, at a cost of £506.5m — both figures showing an increase on 1995. Around seven films made in the UK each year are produced by major US film companies. These are usually big-budget films. There has also been an increase in co-productions involving UK film companies. Meanwhile, cinema admissions have risen to their highest level since 1970. Cinemagoers now include a broader range of people, who are visiting their local cinemas more frequently. Most of the UK’s indigenous film companies are small and undercapitalised. The major filmmakers include Film Four, BBC Films and Working Title, plus a large number of smaller enterprises. Finance for filmmaking is still a critical issue, but more money has become available in the last 2 years, both from the National Lottery and from financial institutions. A notable trend in the last 12 months has been the eagerness of some UK film companies to forge alliances with US or continental companies. The agreement between Channel Four’s filmmaking company Film Four and Warner Bros. in Hollywood to make several films is the major example. The UK also has a new Film Council, which brings together all the public funding organisations and which has a budget for the next 5 years. The Council is headed by a successful film director and has a board of other film producers and directors. There are high hopes for this new body. However, the industry’s major problem is the low proportion of films that are released to the cinema circuit. The distribution of films is regarded as one of the industry’s most critical priorities, and The Film Council intends to address this issue. The European Commission (EC) is also keen to support film distribution in Europe. Meanwhile, there has been a spate of mergers in Europe’s television industry. Granada’s takeover of the television assets of United News & Media is one example. The creation of pan-European TV interests is likely to have long term implications for the film industry in the UK and elsewhere in Europe, leading to the commissioning of big European feature films. The most ambitious purchase announced so far has been the French-based Vivendi’s acquisition of Universal Studios. This will create a multinational media empire, provided it gains clearance from the regulatory authorities in New York, Brussels and France. Key Note forecasts that the number of films made in the UK will reach 115 by 2004, and that the total investment in these films will be £736m.

Text © 2000 Key Note

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Last updated by Duncan Nottage 12th October 2000