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,” but that they and others could do more. Abraham made the announcement of increased spend at the Oxford Media Convention today touting its eventual impact on job creation for British companies and the creation of intellectual property “which indies can use to generate additional export revenue, further boosting the UK economy.” Calling his plan Mission With Mischief, Abraham said the group would re-focus its “creative output on innovation, diversity and seeing the modern world in new ways.”
UK's Channel 4 To Invest Record £450M In Local Production, Scale Back On US Fare
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
Netflix Nabs Judd Apatow Comedy Series With 2-Season Order; Paul Rust & Gillian Jacobs To Star, Legendary TV To Produce
More From Tartaglione
- Scottish Independence Vote: If The Ayes Have It, What Happens For Film & TV Biz?
- ITV Closes Curtain On 'Rising Star'; UK Version Will Not Go Forward
- Global Showbiz Briefs: Rome Film Festival Reveals First 5 English-Language Titles; Soda Pictures Bringing 'Phoenix' To UK; More
- 'Help! I Can't Cook' Serves Up Record Debut In Israel; Is Keshet In The Sweet Spot Again?
- China: Understanding & Respect Key To Massive Market, But Does Anybody Know Anything?
- Global Showbiz Briefs: BBC's Hugh Bonneville Starrer 'W1A' Back For Season 2; Denmark's TDC Group Paying $2.15B For Norwegian…