British Film Commission Welcomes Funding Increase

The British Film Commission (BFC) has welcomed the launch of the BFI’s Future Strategy which outlines an additional £200,000 for the agency, taking its total funding from the BFI per year to £600,000.
The BFC also announced three new commercial sponsors: Double Negative, MPC and Working Title Films, joining the list of the agency’s valued commercial industry partners who form its innovative public/private partnership.
The funding from the BFI will enable the BFC to maintain its important activity in the US. The BFC will also further investigate opportunities to attract new business from other territories, which is work being carried out in partnership with UK Trade & Investment (UKTI) as announced in July this year. The current strategic partnership with UKTI provides the BFC with an opportunity to grow inward investment and extend the UK’s international commercial activity through film, as well as maximise the benefits of the proposed TV tax credits if it goes ahead in April 2013.
The BFC is responsible for driving inward investment to the UK through international feature film production. In 2011 inward investment films generated approximately £3.7bn to GDP and £1bn in exchequer revenues, with titles such as Skyfall, The Dark Knight Rises and Prometheus shooting in the UK. In 2012 high profile, inward investment titles shooting in the UK include Maleficent, Fast and the Furious 6, Thor 2 and All you need is Kill.
Double Negative, MPC and Working Title Films join a high calibre list of BFC sponsors – Disney, Framestore, Harbottle & Lewis, Pinewood Studios Group, Saffery Champness and Warner Bros. – who support showcasing the UK to the international industry.
Adrian Wootton, Chief Executive of the British Film Commission and Film London said: "We are delighted the BFI has committed an additional £200,000 to the British Film Commission. This will enable us to drive forward in promoting the UK as the best place in the world to produce films and ensuring the UK is attractive to international investment.
"In tandem with our partnership with UKTI it allows us to explore new territories and capitalise on the potential TV tax credit, ensuring that inward investment through film production remains a growth industry in the UK, delivering for the economy and creating jobs.
"We would also like to thank our new sponsors Double Negative, MPC and Working Title Films for their generosity. What better endorsement of the work of the BFC than sponsorship from our commercial partners and I am gratefully for their ongoing support."
www.britishfilmcommission.org.uk