Channel 4, one of the main sources of finance for the British film industry, will increase its feature film budget by 37% in 1994.
The channel has no plans to expand the number of movies it backs from the current level of 12-15 a year, but it will put more money into each project.
This good news for British filmmakers was made possible by Channel 4’s strong commercial performance since the beginning of this year, when it started selling its own advertising airtime independently of the ITV network.
It also can be traced to the success of films like “The Crying Game” and “Howards End” and the strong impact of new movies like “Raining Stones” and “Naked” at this year’s Cannes Film Festival. Channel 4 chief executive Michael Grade is a dedicated personal supporter of the British film industry.
In 1994, Channel 4’s overall program budget will grow for the first time in three years, increasing by T10 million ($ 15 million) to T194 million ($ 291 million).