U.K. Independent Film Sector Strained to Market Failure Level, Grim BFI Report Finds

variety.com:

Naman Ramachandran A perfect storm of flatlining production budgets, galloping costs and declining revenues have led to the U.K.

independent film sector being strained to the point of market failure, a report commissioned by the British Film Institute (BFI) has found.The report, An Economic Review of U.K.

Independent Film, undertaken by independent research company Alma Economics, makes for grim reading, with the key and ironic takeaway that the overall unprecedented growth boom in the country’s film and high-end TV sector has led to a corresponding negative impact on the independent sector.

Film and high-end television production spend reached record levels in 2021 at £5.64 billion ($6.8 billion), a rise of 63% since 2017 and is poised to grow to £7.66 billion by 2025.