Guardian Article Summary
A increasingly risk-averse Hollywood movie system is being taken over and mega-budget TV dramas are putting a squeeze on smaller films.
The UK is popular for the mid-to-low-budget film industry.
The number of domestic UK films costing from £500,000 to about £30m to make.
Hollywood blockbusters made in the UK, such as Star Wars: The Last Jedi, and Alien: Covenant, account for the company's share of the £1.6bn feature film market.
After the last financial crisis money dried up and the major Hollywood studios ended up cutting loads of their production slates and increased budgets pretty much for franchises and superhero films.
As well as the changing focus of the film industry, pressure is being pushed up by the boom in big-budget drama flooding TV, typified by shows such as Netflix’s £100m co-production in The Crown.
In the US the number of scripted shows being made annually has more than doubled since 2010 to more than 500 this year.
Netflix recently revealed it has 90 original productions under way in Europe alone, Sky has 80, and traditional broadcasters such as ITV and the BBC have upped their game with huge hits such as Broad church and Line of Duty.
Richard Johnston (chief executive of Endemol Shine UK) says “There is not a lot of difference between high-end TV and many films these days,”
The BFI says the figure for inward production investment in TV, mostly from US companies such as Amazon, Netflix and HBO, nearly doubled from £252m in 2013 to a record of almost £500m last year. This boost has been in part fuelled by a film industry style tax break for glossy shows costing at least £1m an episode to make which was introduced in 2013.
https://www.theguardian.com/film/2017/may/31/hollywood-and-tv-put-the-squeeze-on-uks-low-budget-film-makers
The UK is popular for the mid-to-low-budget film industry.
The number of domestic UK films costing from £500,000 to about £30m to make.
Hollywood blockbusters made in the UK, such as Star Wars: The Last Jedi, and Alien: Covenant, account for the company's share of the £1.6bn feature film market.
After the last financial crisis money dried up and the major Hollywood studios ended up cutting loads of their production slates and increased budgets pretty much for franchises and superhero films.
As well as the changing focus of the film industry, pressure is being pushed up by the boom in big-budget drama flooding TV, typified by shows such as Netflix’s £100m co-production in The Crown.
In the US the number of scripted shows being made annually has more than doubled since 2010 to more than 500 this year.
Netflix recently revealed it has 90 original productions under way in Europe alone, Sky has 80, and traditional broadcasters such as ITV and the BBC have upped their game with huge hits such as Broad church and Line of Duty.
Richard Johnston (chief executive of Endemol Shine UK) says “There is not a lot of difference between high-end TV and many films these days,”
The BFI says the figure for inward production investment in TV, mostly from US companies such as Amazon, Netflix and HBO, nearly doubled from £252m in 2013 to a record of almost £500m last year. This boost has been in part fuelled by a film industry style tax break for glossy shows costing at least £1m an episode to make which was introduced in 2013.
https://www.theguardian.com/film/2017/may/31/hollywood-and-tv-put-the-squeeze-on-uks-low-budget-film-makers
A good summary.
ReplyDeleteFor revision purposes, include the Guardian article link.
Please also answer the following question - What do you think is going to happen to Hollywood and TV services in the future?
Miss C
I think that the hollywood film and tv services will be consumed by companies like Netflix making the majority of tv shows more convenient to people.
DeletePlease remember to respond to the question in my previous comment.
ReplyDelete