Brexit is taken its toll on all UK industries, including film. Zygi Kamasa who runs Lionsgate UK, has come forward and stated to the BBC, that Britain’s decision to leave the EU could have a “big impact” on independent filmmakers. UK film production relies on co-production money from Europe, not to mention that most films have scenes shot across Europe.
After the result from the referendum Michael Ryan, the chairman of the Independent Film and Television Alliance, told Variety that the news is “devastating” for the UK film and TV industry. He continued:
“This decision has just blown up our foundation — as of today, we no longer know how our relationships with co-producers, financiers and distributors will work, whether new taxes will be dropped on our activities in the rest of Europe or how production financing is going to be raised without any input from European funding agencies.”
The full impact of Brexit is still unknown, consumers and businesses alike feel the economic uncertainty. The European Union’s media program invested 105 million into the UK film industry between 2007 and 2015. If this source of income becomes unavailable, films will be struggling with production budgets and supporting distributors. Film operations will be greatly affected unless an alternative income is produced.
Leaving the EU will also affect how British films trade with Europe. Before Brexit, our films would be able to travel through Europe without being subject to taxes. European and British films could have interchanged in each other’s cinemas with ease, now the process will be increasingly difficult. Fewer international films will now be distributed in the UK, as Brexit has caused the sterling pound to weaken, to acquire European film content at all will be at an increased price.
At a glance Brexit only seems to have a negative effect on the film industry, do you think this will change?
Text: Isla Whiteford
Images: BBC, Health action, Visit wales, CBC