UK production spend drops 15% whileco-productions crash 43%
Feature film production spend dropped 15% in 2007, to $1.4bn (£723m) from 2006's $1.6bn (£855m), according to new research from the UK Film Council.The UKFC tracked 112 features, down from 135 in 2006 (the UKFC only tracks projects with budgets starting at $1m). The UKFC blamed the decline on the weak dollar, the US writers' strike, and the new UK tax-credit which is less friendly to co-productions. Indeed, the number of UK co-productions dropped to 28 in 2007 from ...
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