Member Article

Demand in screen-entertainment industries ripe for UK

Demand is growing within the UK film, gaming and tv industries, a report from PwC outlines.

Entitled Powering Ahead, and commissioned by Pinewood Studios, the report looks at consumption levels of screen-based content.

Increases in consumer demand are projected across the world, particularly in BRIC countries.

In film, increases in global box office admissions; bigger digital screens and the consumer support for home entertainment channels such as Netflix and Lovefilm are driving growth for high-end production.

Franchise films, including sequels, prequels and spin-offs have increased, driven by build on established audiences.

The report shows production is polarising toward lower and higher end films, and fewer mid-budget projects.

Given the increase of on-demand tv, production costs for premium drama series can now be similar to those of blockbuster film, according to PwC’s analysis.

“Casual gaming” is on the increase due to the proliferation of mobile devices, and much like the polarisation in film production, major franchise games with increasingly “cinematic” qualities were also seen to be a growth area.

PwC suggested the UK needed more provision of the facilities desired by today’s producers, if the country was to retain a competitive advantage.

Creative England’s Chief Executive Caroline Norbury said: “This timely report addresses a number of the key issues we simply must address if we are to maintain and grow the UK’s creative industries. The key is to ‘grow our own’.

“To do this, we need to address issues of infrastructure building on existing centres of excellence, like Pinewood, Elstree and Leavesden, whilst looking to strengthen existing creative businesses and clusters north of Watford.

“We need to up-our-game in terms of digital infrastructure too - UK businesses cannot compete
without major improvements to broadband.

“We also need to change the culture around investing in the creative sectors, whilst simultaneously finding new avenues to provide affordable access to finance.

“We must retain our IP and learn to build big creative businesses founded on our big creative ideas. We need to remember that SMEs are the key drivers for future economic growth. Finally we need to remember that innovation is the key to remaining competitive, both structurally within businesses – and with the products and services we produce.”

Pinewood Chief Executive, Ivan Dunleavy said: “This market analysis from PwC helps demonstrate that the UK needs to increase capacity if it is to capitalise on the predicted growth on offer in the screen based industries. Inward investment continues to flow into the UK to take advantage of our facilities, talent, skills and technology but we need to grow to help accommodate it.”

This was posted in Bdaily's Members' News section by Tom Keighley .