17/02/2003

“We had the boom and now we’ve got a bust. Sound familiar?” Alan Parker made the blunt remark during his November 2002 speech to British film industry professionals when he presented the Film Council’s vision of the future of the British film industry. His words reflect the harsh reality the British film community has become accustomed to dealing with.

2002 was another recession year in a very cyclical industry that is thriving to build solid foundations. Affected by a global economic downturn, spending on UK productions fell by 5 per cent and the independent sales sector found itself fighting for survival. Two major TV backers, Granada Films and Film Four, closed down. Despite all that, the picture is far from gloomy.
The US majors returned in force to the UK last year with blockbusters like James Bond’s - Die Another Day and Lara Croft, Tomb Raider 2 helping to sustain inward investment levels. Soft money in the form of subsidies and tax breaks offered a welcome alternative to traditional equity financing, bringing UK filmmakers closer to their European counterparts. UK cinema attendance was the highest since 1972 and numerous British films won major international awards.

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Cineuropa examines the state of the British film sector and what to expect in the near future.