Presentation on theme: "Film London: The Capital’s Film & Media Agency Adrian Wootton Chief Executive of Film London and the British Film Commission."— Presentation transcript:
Film London: The Capital’s Film & Media Agency Adrian Wootton Chief Executive of Film London and the British Film Commission
A CAPITAL FOR FILM London and the South East are home to more than 75% of the UK’s production industry The capital is the third busiest production centre in the world after Los Angeles and New York Feature film production generated £866m for the region’s economy last year alone The film industry employ approximately 75,000 people in London Wealth of acting and technical talent World-class studios and facilities Clint Eastwood shooting Hereafter in London
Film London is the capital’s film and media agency Works to ensure London is a film-friendly place and has a thriving film sector that enriches its businesses and people Over 1,000 films, TV projects and commercials in the city every year receive filming support from Film London Since its creation in 2003, filming in the capital has increased by over 30% A CAPITAL FOR FILM: FILM LONDON
Deliver a seamless service for all film-makers shooting in London to attract inward investment Create investment opportunities for London film businesses Support the next generation of UK film industry through production and training schemes Increase the export of the London film industry Enrich film culture in London Since April 2011 Film London has also been responsible for the national remit for inward investment through the British Film Commission FILM LONDON: REMIT
British Film Commission (BFC) National division of Film London Promotes the UK as the best place to produce films Provides guidance on British qualification and Tax Relief and free production support from offices in UK and US Public/private partnership Highly knowledgeable and skilled teams based both in the UK and US Advised by industry board chaired by producer Iain Smith Last year saw record-breaking levels of UK inward investment through film at £935m FILM LONDON: NATIONAL REMIT X-Men: First Class and Captain America: The First Avenger shot in the UK
FILM LONDON: 2012 REMIT Working to ensure film-making activity in the capital and the South East is maintained during summer 2012 Responsible for all non-Olympic related filming (e.g. features, TV, commercials) Staffing an information desk at the London Media Centre during the games Inform, support and facilitate productions leading up to and during 2012 including national and international briefings Provide up-to-date information on all events and the impact on key landmark locations Sourcing alternative locations, hotels and studio space and advise on locations that can double for central London. Liaise with other regions Close collaboration with local authorities, the film industry, facilities companies, Olympic delivery bodies and partners across London and the South East Creating a centralised online Portal & Permissions Application System and a London 2012 microsite Working with the 2012 legal team to establish guidelines on featuring Olympic branding
An overview of UK government policy to encourage investment in CULTURE, with a particular FOCUS ON FILM, including the role of the private sector. Simon Farley Head of Business Development, Creative Industries British Council, Thailand
Current state of UK public film funding Total measured public funding for film in UK, 2009/10: £266M Film production tax relief (tax credit): £95M National Lottery: £60M Department for Culture, Media & Sport (DCMS) £38.4M as grant-in-aid to UKFC (now transferred to BFI) and NFTS National and Regional Development Agencies: £19.1M BBC Films: £12.9M Film 4: £10.2M European Union: £8.2M (£5.1 from MEDIA programme)
Film production tax relief - example For films that cost over £20 million, the FPC can claim an enhanced deduction of 80% with a payable cash element of 20% of UK qualifying film production expenditure. Payable cash element In this example, the core expenditure of a film is £100m. All are qualifying UK costs. Tax relief is available on qualifying UK production expenditure up to a maximum of 80% of total qualifying costs. Therefore, tax relief is based on 80% x £100m (qualifying UK costs) = £80m. In order to maximize the payable element, the producer would surrender all of the qualifying expenditure to HM Revenue & Customs. The payable cash element is worth of 20% x 80m = £16m.
Film production tax relief - example Enhanced deduction The enhanced deduction is worth 80% of qualifying costs: 80% x £80m = £64m. This is a shield to paying corporation tax and not a payable cash amount. So, with the £64m, plus £16m payable cash element tax free, plus £20m losses still on books, the FPC has £100m (the cost of making the film) before it has to pay corporation tax. Without the enhanced deduction the FPC would pay 28% corporation tax when it has an income of £36m (£16m payable cash element, plus £20m losses). Therefore the enhanced deduction protects the FPC from corporation tax of 28% on the amount between 36 and 100 = 64 (and 30% x 64 = 19.2%, which is what the relief is worth if the producer chooses not to take the payable cash element).
National Lottery From 1 April, the British Film Institute became the Lottery distributor for film in the UK, with responsibility for funding film development and production; training; distribution and exhibition; supporting film UK-wide; film certification, the Cultural Test and co-production; strategic development; industry research and statistics; and the MEDIA Desk UK.
BBC Films BBC Films is the feature film-making arm of the BBC. It is firmly established at the forefront of British independent film-making and co-produces approximately eight films a year. Working in partnership with major international and UK distributors, BBC Films aims to make strong British films with range and ambition. Committed to finding and developing new talent, as well as collaborating with some of the foremost writers and directors in the industry.
Film 4 Film4 ProductionsFilm4 Productions is the feature film commissioning department of Channel 4. They develop and co-finance a slate of smart and distinctive feature films like the Academy Award winning Slumdog Millionaire, Mike Leigh's Happy Go Lucky and Shane Meadows' This Is England.
European Union Over the past 20 years, MEDIA, the EU's support programme for the European audiovisual industry, has supported the development and distribution of thousands of films as well as training activities, festivals and promotion projects throughout the continent. From 2001-2006, more than half a billion euros were injected into 8.000 projects from over 30 countries.
The lead body for film in the UK, comprising: Production & Development – Film Fund, Film Export Fund Exhibition – BFI SouthBank, London Film Festival Preservation – National Film and Television Archive Education – wide range of learning opportunities for all ages BFI library, Screenonline and Inview Publications – Statistical Yearbook, Sight&Sound magazine ‘Creative England’ – distribution of lottery funds for film in the English regions
Film London remit Deliver a seamless service for all film-makers shooting in London to attract inward investment Create investment opportunities for London film businesses Support the next generation of UK film industry through production and training schemes Increase the export of the London film industry Enrich film culture in London Since April 2011 Film London has also been responsible for the national remit for inward investment through the British Film Commission
Supporting, developing and promoting the arts with no public subsidy – partnership approach. Orange British Academy Film Awards British Academy Television Awards Video Games Awards Television Craft Awards Children’s Awards
£21M spent on Film Education in 2009/10 392 moving image education providers in the UK in 2011 from venues to production companies 33,000 admissions to BFI Southbank education events in 2010 FirstLight and MediaBox supported the production of 1500 short films involving over 30,000 young people 68,000 students studied GCSE media related subjects in 2009/10
UK film funding summary Tax credit National Lottery DCMS Development Agencies BBC Films / Film4 European Union BFI Film London BAFTA British Council