Cash allocated to production in U.K. hit record high

Inward investment into U.K. film production hit an archive 669.six million ($1.14 billion) within the first 1 / 2 of 2011, despite the fact that the amount of movies shooting fell to an alternative low. Just nine films, lower from 14 within the same period this past year, paid for for any 16% increase in inward investment, with average budgets topping $100 million the very first time, based on the British Film Institute. The main U.S.-backed projects that began at that time include "Jack the Giant Killer," "The Dark Dark night Increases" and "Dark Shadows" from Warner, "Prometheus" from Fox, "World War Z" from Vital, "47 Ronin" from Universal and "Gambit" from CBS Films. Domestic British filmmaking fell to its cheapest level since records started in 2003. Just 20 projects began production, for $63.3 million. Key game titles include "The Iron Lady," "The Inbetweeners Movie" and "Cockneys versus Zombies." Only co-productions elevated in volume, with 17 projects producing U.K. expenditure of $53.six million, the greatest tally for 3 years. Consequently, the entire figure for U.K.-based production expenditure arrived at $1.26 billion, up 10% from 2010 in support of 2% below the record a lot of 2009. However the final amount of films only agreed to be 46, considerably lower in the previous low of 61 within the first 1 / 2 of 2010. The very first time, the BFI has additionally collected details about films costing under $800,000. Some 53 micro-budget films shot in a combined price of $9.six million. The half-year figures were put together through the BFI's research and statistics unit, formerly area of the U.K. Film Council, and were released alongside the BFI's 2011 Record Yearbook, which supplies an thorough account from the U.K. film market this year. Among other highlights: Public funding for film elevated 4% to $433 million this year, including $154 million in the film tax credit cinema admissions fell 2% to 169.two million this year, but box office rose 5% to some record $1.61 billion British films (including individuals backed by Hollywood galleries) required a 24% share, up from 17% last year admissions rose .7% within the first half, and U.K. share arrived at 32.3%, largely because of "The King's Speech." DVD sales fell 11% this year, but remained as the biggest revenue source for films, having a total worth of $2.11 billion. The film rental market totalled $244 million, with 56% from the total 63 million rental transactions completed online. Contact Variety Staff at news@variety.com