20/01/2010

The UK film industry has managed to just about survive the global recession in 2009, as evidenced by latest figures released by the UK Film Council (UKFC).

Total spend for 2009 was £956.9m, 56% higher than 2008, inward investment was £752.7m and UK independent films claimed a market share of 8.5%, the highest in a decade.

However, independent film production was down to 71 films, compared to 77 in 2008, and overall market share of UK films (which includes both UK independent and UK films produced with US backing) has almost halved to16.5%, compared to 31.1% in 2008.

The top hit of the year was UK/UK co-production Harry Potter and the Half-Blood Prince [+see also:
trailer
film profile], which took in £50.72 m. UK production Slumdog Millionaire [+see also:
film review
trailer
interview: Danny Boyle
film profile] weighed in at number 5 with £31.66 m.

UKFC CEO John Woodward said, “The UK film industry is weathering the recession well. Taken together, these box office and inward investment numbers show how film in the UK has moved from the margins back to the mainstream, helping sustain jobs and promote the UK’s place on the international stage. British cinemagoers are voting with their feet – they want to see big event movies, many of which depend on outstanding British talent and are made in the UK thanks to our reliable film tax credit.

“In addition, what is particularly encouraging is that the public appetite for low budget, independently produced British films is rising once again despite the blockbuster phenomenon. So at a time when film budgets are being squeezed and production finance is very hard to raise, it’s important to realise that many of these films are supported through public subsidy from the UKFC, BBC Films and Film4. The case for continued public support for film has therefore never been stronger.”