Film Agency News
18th November 2009
£1.15 million film investment unites culture and commerce in Wales
The Film Agency for Wales will today (Wednesday 18 November) release figures detailing a £1.15 million investment in the Welsh film industry.
The announcement comes as more than 100 of Europe’s film-making elite are in Cardiff for the 2009 European Audiovisual Entrepreneurs (EAVE) programme being held at St David’s Hotel, Cardiff and on the opening day of Soundtrack; the international film and music festival for Wales. Both high profile events are supported by the Film Agency for Wales.
Launching the 2008/09 Annual Report that details the £1.15 million investment, Peter Edwards, Chairman of the Film Agency for Wales said that financial awards totalling some £940,050 had enabled the development of 20 features and eight feature film productions over the twelve month period. All involved Welsh talent.
A further £162,996 was awarded to seven cinema venues, 17 film societies, ten film festivals and four special film events to enhance specialist film exhibition across Wales with audience figures rising by 35% over the last three years. £52,168 was also granted to 13 film education projects benefiting some 2300 young people across Wales.
“Now in its third year, the Film Agency for Wales is changing the face of the digital economy as the team continues to focus on uniting culture and commerce, pioneering digital film and, importantly, delivering success,” explains Mr Edwards.
“Working with stakeholders throughout the industry, the team has focused on exploiting the benefits of a digital economy, embracing the future of digital delivery in Wales while engaging our future talent and young people with the Welsh film industry.”
“This year alone, we have seen 15 Film Agency funded films either start or complete production with an estimated Welsh spend of £4 million and total partnership funding in excess of £11.1 million – that’s a huge achievement given our limited production funding input of just £2.1 million since we began life in 2006.”
As the lead body for film in and of Wales, the Film Agency works with partners including BBC Wales, S4C, Film London, Film4, UK Film Council and the Wales IP Fund along with international co-producers, financiers and sales agents.
Features receiving production investment included the theatrical documentaries Little Matador (currently in production), Mugabe and the White African, since selected for London Film Festival, IFDA, Hotdocs and winner of the World Feature at the AFI’s esteemed Silverdocs, A Boy Called Dad, subsequently selected for the Edinburgh Film Festival, and Barafundle Bay one of the industry’s ‘top 20 unproduced screenplays’ according to Variety. All of these projects have had Welsh writer, director and or producer(s) at their heart.
“Of course, one of the substantial financial benefits not evidenced in the throughput of our accounts is the leveraged partnership funding for the various feature films that we support, as the majority of each film’s budget is sourced from one or usually more third parties,” continues Edwards.
“There are scales of economy and additional strategic benefits to be had in an environment where repeat business with co-financiers is encouraged and where those financiers can work together to better achieve their aims. We are particularly keen to build upon these initial project relationships, furthering the combined benefits of films’ leveraged finance approach and international distribution focus with the broadcasters’ innate knowledge of their core audience and their direct route to that market. Together we can create high-end content that neither party could produce in isolation, placing Welsh filmmakers firmly on the global stage.”
“The Film Agency is engaged at every point in the value chain from the creation of film content, through to the consumer. It is clear that we have had a productive and successful year and, most importantly, that the film industry in Wales has a significant contribution to make to our economic success. It is therefore vital that our financiers recognize the need for continued investment to ensure the future health of the digital economy of Wales.”
“And, indeed, the figures released today truly demonstrate the pivotal role that the Film Agency has to play by supporting, engaging and enthusing the Welsh filmmakers and exhibitors of today and tomorrow.”
The Film Agency for Wales is funded by the Arts Council of Wales, the UK Film Council and the Welsh Assembly Government, via Creative Business Wales, the latter of which was set up to support, encourage and increase the range and number of films being produced in Wales and to foster the abundance of creative talent in Wales. Funding for the development and production of feature films is supported by the National Lottery through the Arts Council of Wales.
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