According to our media sources, the Department for Digital, Culture, Media and Sport (DCMS), in partnership with the British Film Institute (BFI), has launched a fund to boost content exports. The decision comes in response to the lack of European capitals, which have resulted from the reallocation of European funds due to Brexit. Previously, grants for the cultural and audio-visual sectors in the U.K. were drawn from Creative Europe’s MEDIA program, which was valued at US$22.2 million a year. However, as a result of Brexit, the grand has ceased to come into effect.
To cushion the effect of the withdrawn grant, DCMS, together with BFI, have established a one-year pilot find called Global Screen Fund worth US$9.7 million. As announced by the UK Chancellor of the Exchequer Rishi Sunak, the fund targets support across independent screen sectors, including but not limited to film, television, animation, documentary, and interactive narrative games content.
The fund allocation will be subjected to a three-sectional approach. These tiers will include:
– international distribution funding support for sales and distribution for one or more U.K. feature film in international territories
– International business development with financial support for business strategies that drive international growth and I.P. development for companies working in film, T.V., and interactive narrative gaming
– Co-production investment
The CEO of the BFI, Ben Roberts, says the announcement of the US$9.7 million models will assist in ensuring a vital boost that will stimulate international partnerships and generate new export opportunities. Oscar-nominated Producer; David Parfitt shared his delight at the announcement of the fund. Parfitt highlighted how the fund would bring a business development element alongside distribution support which will boost international success for many independent production companies. The fund will also launch an international promotional campaign extolling the virtues of U.K. content.