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British film fund worth £15m is unveiled 
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Joined: Sun Apr 26, 2009 12:30 pm
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http://news.bbc.co.uk/1/hi/entertainment/8598633.stm

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The UK Film Council has announced plans for an annual fund for the development of new movies, worth £15m.

The funds will be available to both established and emerging talent, the organisation has said.

A new national web-based talent pool has been proposed for the homegrown film industry, which could uncover the next big star of UK cinema.

The Film Council made its new proposal after its long-term budget was slimmed down by £25m.

The organisation's new financial plans have also allocated £5m to an innovation fund, which will be announced later in the year.

Money to help the export of UK films abroad, amounting to £500,00 each ye[/code]ar, has also been secured.

'Tough choices'

Tim Bevan, chairman of the UK Film Council, said it had a "renewed mission" and "a new set of priorities".

"With the right level of support, a successful British film industry can continue to help get the UK out of recession, drive innovation and create more highly-skilled jobs."

But Mr Bevan admitted that "further tough choices lie ahead" after the Film Council substantially cut running costs.

The film fund has opened to new applications from today, while more details about the talent pool will be released later in the year.


Will that sort of money go far? :?

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Thu Apr 01, 2010 12:12 pm
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Joined: Fri May 08, 2009 10:01 am
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Look at this way the budget for Slumdog Millionaire was £15 million so in terms of financing whole films no.

I suspect the money will be mostly for short films, script and project development which before the rules changed was anywhere from £5000 upwards per project.

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Thu Apr 01, 2010 12:31 pm
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Hmm, that sounds like 5 features to me.
Expect the usual finance deals coming in from France or Germany to make up the shortfall.
Or that's how it would've played out a few years back, I wonder now though if eastern Europe is where the cash is.

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Thu Apr 01, 2010 8:16 pm
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Serves me right for skimming
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an annual fund for the development of new movies
so there will be a seperate fund for producing films, at least there used to be, times have changed.

As Professor F says the majority of film financing comes from abroad or from private financing, the BFI rarely (if ever) fully finances a film, I think tha maximum is 25% of a budget for which they will want a 40% return on their investment.

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Fri Apr 02, 2010 6:44 pm
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