RESEARCH: THE BUSINESS OF FILM

In the UK, the BFI and its predecessor the UK Film Council, have published a number of reports on the economic and cultural value of film. Recently, they made a report on economic impact which found that film contributed £3.67 billion to the UK economy. Studies on the cultural impact of film have shown how films, can be extremely significant for people, giving them insight into other people's cultures as well as making them generally aware of both current and past issues around the world


Many films perform well at award ceremonies, including the BAFTAS as well as the more popular US Academy Awards (also known as the OSCARs). This is a source of pride for the UK, and is one of reasons that there are so many Hollywood stars that are British because their high talent gets recognised through award ceremonies such as this. Another increasingly important aspect of film and screen production is tourism. Film tourism is defined as "visiting a place that features in a film or television programme", and is becoming more popular with the increasing number of films produced Approximately £840 million of tourism spending by overseas visitors can be attributed to film-induced tourism. An example of successful film/tv tourism is through Game of Thrones, which shoots on location in Northern Ireland. Locations from the show are advertised through tourism agencies and has raised £8.6 million for Northern Ireland's economy.



The benefits of inward investment include that there is a knock on effect for individuals working on a film from producers to camera crew as more money is being made through the investment. The fact that many films are funded by the lottery means that they can easily obtain the money to successfully train crew members of a film as well as using more money for distribution, thus reaching far more people who are abroad.


In the film industry, the term ‘value chain’ is used to describe the series of steps that run from the first creative spark that starts the film-makers thinking about the project to the end of the commercial life of the completed feature film. The value chain is extremely important in the production of film, and it consists of development, finance, pre-pre production, production, distribution, exploitation.


Development - Hire director, option agreement, hire casting director, certify as british
,premilinary budget, secure key cast,hire writer
Finance - Secure development finance, prepare estimates
Production - Secure rights,pre-production, principal photography, post-production
Distribution - Broadcast license, Video/DVD/VoD licensing
Concept Origination - Find ideias.
Exploitation - Download to own, Cinema exhibition, DVD rental and Sales,
Creative Packaging - Marketing campaign