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Nordicity’s latest research finds the UK screen sector has an economic impact of £7.9bn, bolstered by UK tax reliefs (BFI)

Nordicity and project lead Olsberg SPI’s latest research for the British Film Institute (BFI) finds that the UK’s screen sector had an economic impact of £7.9bn on the UK economy, and shows how the UK tax reliefs help fuel the boom in the screen industries.

Our research found that an estimated £632 million in tax relief seeded £3.16 billion in direct production spend in 2016, a 17% increase on 2015. UK-made productions generated £7.9 billion as the screen sector’s overall economic contribution (GVA), including £2 billion in tax revenues. Production spend which would not take place without the tax reliefs, known as additionality, doubled GVA to £4.1 billion in 2016.

The report has been produced by Olsberg SPI with Nordicity, and commissioned by the BFI, working with industry partners including the British Film Commission (BFC), Pact, Pinewood Group, UK Interactive (Ukie), the UK Screen Alliance and Animation UK.

 

For more information, contact Dustin Chodorowicz, dchdorowicz@nordicity.com

Nordicity is a leading international consulting firm providing private and public-sector clients with solutions for Economic Analysis, Strategy and Business, and Policy and Regulation across four priority sectors: arts, culture and heritage; digital and creative media; information and communication technologies (ICTs) and innovation; and, telecommunications and spectrum. With offices in Ottawa (HQ), Toronto, Vancouver and London, UK Nordicity is ideally placed to assist our clients to succeed in the rapidly evolving global markets.