Although disc sales fell by 7.2% in the UK in 2011, the British Video Association today says a study it commissioned has found sales of DVDs, Blu-rays and digital formats are the “single biggest revenue source for the production of film and television drama in the UK.” The report, by Oxford Economics (which also did this week’s study touting BskyB’s £5.4B contribution to UK GDP), estimates that £2.3B was spent on video entertainment in 2011 in the UK, dwarfing the £1.1B spent on movie tickets. Case studies on six British – or British-themed – films found that in five instances video outperformed box office and TV sales. The biggest local draw of 2011, The Inbetweeners Movie, earned 54% of its takings via video and 46% from theatrical and TV. (Sherlock Holmes: A Game Of Shadows, however, scored 43% of its revenues from video compared to 57% for aggregated box office and TV.) Overall, the study found that video in 2011 was responsible for 47% of feature film revenues and one-third of TV series revenues including such shows as Doctor Who, Planet Earth and Downton Abbey. The digital rental and retail sector is growing with rental accounting for 8.2% of the market, an annual increase of 10%.
Homegrown hits like The King’s Speech, The Inbetweeners Movie and Tinker Tailor Soldier Spy helped drive the market share of U.K independent films to an all-time high 13.5% in a year that saw increased overall movie admissions, the British Film Institute announced today. In total, 171.6 million tickets were sold at the U.K. box office, a 1.4% increase on 2010 and the third highest total of the last decade. Gross value of box office was £1.04 billion, repping a 5% jump on 2010 and the first time the £1 billion barrier has been broken. Overall, the market share for all British films – whether they be independents or pictures shot locally but financed from abroad – hit 36.2%, up from 24.0% in 2010. Total investment in U.K.-based film production reached £1.26 billion. Spend on domestic features,
Britain’s Channel 4 has pledged to invest nearly £450 million towards original UK content in 2012, chief exec David Abraham announced today. The sum is an historic high for the network and should come as good news to the UK film industry where Channel 4 has lately been involved in such films as 2011’s local hit The Inbetweeners Movie as well as other notable indies Submarine, The Iron Lady, Shame and Tyrannosaur. It might not be such good news for US content creators, however, as Abraham noted the new spend is in part derived by pro-actively shifting some investment away from acquired, mainly US, programming, into UK commissioned content. A recent review of UK film policy urged Britain’s broadcasters to invest more in independent British film production with the head of the review committee noting Channel 4 had already done “pretty well by British film over the course of recent years,”