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Scottish film industry to get financial boost

Category: Scottish Economy — Gary Cain on September 29, 2012

An independent report has shown that the UK film industry is now worth £4.6bn to the UK’s Gross Domestic Product. The findings come just weeks after Creative Scotland announced plans to invest in emerging film makers in the country.

The national report by global forecasting firm Oxford Economics, has shown that there has been ‘significant’ growth in the UK film industry in the last two decades. In the 1980s, there was an average of 43 films produced each year. In the 2000s, this more than trebled to 136.

Last year’s contribution set new box office records too. In 2011, total receipts amounted to £410m, boosted by releases including the final instalment of Harry Potter and The King’s Speech.

The report also suggested that the growth will continue, stating:

“With a significant upward trajectory over the last 20 years, the overall picture for the UK film industry is of continued long-term growth.

“[It already] outstrips the UK economy as a whole; there is significant and continued investment in infrastructure.”

The new initiative here in Scotland, jointly being managed by DigiCult and Hopscotch Films, will consider proposals for ten short films, commissioning four. The project, called Scottish Shorts, will invest between £5,000 and £20,000 on each 15 minute production.

It is hoped that the project will boost commercial finance in Scotland for the film industry as a whole.

With the continuing Film Tax Relief from HM Treasury too, it is also hoped that more film makers will see the benefits of being based in Scotland.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

1 Comment »

  1. I had no idea it was actually a Scottish film company who did either of those films – kudos. Let’s hope Scotland steps up its game in the future.

    Comment by Daniel — November 22, 2012 @ 3:41 pm

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