The TV broadcaster, which provides one of the three planks of public funding here in the UK, is increasing its annual film budget by 20% to £10 million. This fresh investment injection follows the passing into law of the Digital Economy Act, which enshrines a film production commitment into Channel 4’s public service remit for the first time. Last year, there was a question mark over Channel 4’s continued support for British films – despite its backing Oscar winner Slumdog Millionaire. Now David Abrahams, Channel 4’s new CEO, says this investment is safe “under my watch”. Film4 has two features competing at next week’s Cannes Film Festival: Mike Leigh’s Another Year is in the running for the Palme d’Or, while Hideo Nakata’s Chatroom is vying for the Prize Un Certain Regard.
Film4 Annual Budget Increases to $15M
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