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New Zealand hits $3.3bn record high

New Zealand screen industry earnings have broken the $3bn barrier for the first time.

Following a 10% increase, New Zealand screen industry earnings hit a record high of $3.29bn last year.

This marks the first time that earnings have broken the $3bn barrier. The survey tracks revenue and other indicators in film and television production and post-production, film distribution and television broadcasting in the twelve months to April 1, 2012.

“To achieve figures like these in the face of a tough global economy is a real testimony to the quality and resourcefulness of the New Zealand industry,” commented Film New Zealand chief executive Gisella Carr [pictured].

For the first time, income from production and post-production made up more than half of the total at $1.67bn and revenue from feature films topped $1bn.

Carr also noted that the results were not consistent across the screen sector.

“The work is by nature volatile and project-driven, and not all sectors of the industry are experiencing the same growth. We are currently showing a lot of strength in international film production. We need to retain that, but for growth to continue we also need to diversify,” added Carr.

“The challenge is to get sustained work for New Zealand companies, particularly in attracting the growing international market in television.”

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