4 Apr 2023
The UK film industry is booming, and the future looks bright, aided by top talent and technology.
by John Mahtani, CEO Drylab Media Tech Group Plc
Chancellor Jeremy Hunt’s recent announcement of new tax breaks for film and TV production is a major boost for the industry, and the BFI’s new funding strategy will provide much-needed support for independent filmmakers.
The Budget introduced the Audio-Visual Expenditure Credit with a headline rate of 34% for films and high-end TV programmes, and 39% for animations and children’s TV programmes.
This will undoubtedly provide a boost to the sector, where the UK already has one of the most successful film industries in the world.
The UK’s talented filmmakers, state-of-the-art studios, and beautiful locations make it an ideal place to make films, and the government’s support will help to ensure that the UK remains a competitive destination for film production.
Combined with the new tax breaks, a further boost comes from the new funding strategy unveiled from the BFI that is expected to provide much-needed support for independent filmmakers.
More spending on UK film will benefit the production supply chain, which includes cutting edge technology such as that provided by Drylab Media Tech.
Drylab’s next generation On-Set Production tool and Dailies distribution platform uses technology to enhance the production process from script to screen, with a powerful metadata engine that enables efficient, accurate, and effective retrieval of captured media both on-set, at the office and in remote locations.
Drylab’s technology is unique, the only platform that provides a one-stop shop for producers and directors.