Funding to rise 50% to $962,730 a year
LONDON — The British Film Commission has announced three new commercial sponsors following the announcement last week that the national body would see its funding from the British Film Institute rise 50% from £400,000 ($641,820) to $962,730 a year.The new sponsors are visual effects company Double Negative, post-production facility MPC and Working Title Films. They join the list of the BFC’s commercial industry partners that form its public-private partnership. Existing sponsors include Disney, Framestore, Harbottle & Lewis, Pinewood Studios Group, Saffery Champness and Warner Bros. “We are delighted the BFI has committed an additional $321,000 to the British Film Commission. This will enable us to drive forward in promoting the U.K. as the best place in the world to produce films, and ensuring the U.K. is attractive to international investment,” said Adrian Wootton, CEO of the BFC and Film London. “We would also like to thank our new sponsors 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.” The BFI coin will enable the BFC to maintain its activity in the U.S. and further investigate opportunities for attracting new business from other territories. The latter is being carried out in partnership with U.K. Trade and Investment. The current strategic link with UKTI gives the BFC the opportunity to grow inward investment and extend the U.K.’s international commercial activity through film, as well as maximise the benefits of the proposed TV tax credits expected to come into effect in April. The BFC is responsible for driving inward investment to the U.K. through film production. In 2011 inward investment films generated approximately $5.9 billion to U.K. GDP.