The British Film Institute today laid out its five-year plan for the future of UK film funding and how it proposes to invest an expected total of £273M in Lottery money from 2012-2017. The org said £28.2M will go towards supporting British film on an annual basis, including an increase in production and development funds of 30% over the next five years. At the same time, the UK government has announced steps it’s taking to bolster the UK biz. Culture Minister Ed Vaizey said the British Film Commission will create a strategic partnership with the UK Trade & Investment body and the BFI to provide an additional £400,000 to the BFC’s budget.
The announcements were made today in response to a UK film policy review that was published in January and which notably called for a “reward for success” scheme. The idea being that BFI development funds should be returned to companies who’ve used them successfully and then be reinvested in future projects. The BFI has confirmed that Lottery investment will be restructured to reward success while the government said the group will set up a cross-industry task force charged with examining ways in which the business can reduce overall dependency on public funding.
The BFI also said it intends to put a development emphasis on such genres as animation, comedy, documentaries, family films and international co-productions. Promoting diversity, the org is also eyeing a 20% increase in investment that goes to under-represented groups.
The group also plans to earmark £17M per year for its “Education and Audiences” scheme to ensure that every child in the UK has film and filmmaking as part of their education. Part of those funds will go to the installation of digital equipment in up to 1,000 community centers. Finally, £3M will go annually to digitize 10,000 British films as part of a drive to preserve film heritage and £1M will go to research and statistics. The BFI has opened a four-week public consultation on its plan.
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