Britain could be set to make more Hollywood blockbusters such as Star Wars, The Mummy and Wonder Woman and fewer European arthouse films because of Brexit, a leading industry figure predicts.
US movie and TV companies are switching production from America, Canada and Australia to here because the falling pound has cut costs by up to 20 per cent while European productions risk stalling because of fears over loss of EU funding, changes to tax credits and introduction of visas.
Adrian Wootton, chief executive of Film London and the British Film Commission, said it had been the “busiest ever” British Pavilion at the Cannes Film Festival, which ended on Sunday. Film London had been “inundated” with US and international in-quiries. He added: “There have been some concerns about Brexit but we’ve been reaching out to our European friends to tell them nothing has changed. We have the crews, studios, the acting pool and the world’s best visual effects companies in Soho.
“We want the Government to ensure we have access to the world’s talent and we’re still able to sell to the European market. However, American productions are the overwhelming majority [of the UK market]. The exchange rate has cut costs for them by between 10 and 20 per cent. That means we’re in an incredible sweet spot right now.”
London was the third busiest city for making films after Los Angeles and New York last year with a record £1.35 billion inward investment into the UK. Two blockbusters out this week, Wonder Woman and The Mummy, were largely shot here and in surrounding areas.
