Despite a 22% drop on last year’s funding, it represents an ongoing commitment from the Mayor of London to film.
Film London is to receive $2.1m (£1.3m) in funding from the Mayor of London for the year 2011/2012. It represents a 22% drop in funding from 2010/2011, when Film London received $2.6m (£1.6m) from the Mayor’s office.
But despite the drop in funding during the tough economic climate, Film London’s CEO Adrian Wootton described it as “fantastic news for London.”
“This funding settlement also allows us to deliver new opportunities for the capital’s aspiring film-makers and enrich the city’s film culture,” he added.
London’s major, Boris Johnson added that he was “delighted that we are able to continue to support the industry, which contributes almost £4bn to the London economy.”
The $2.1m (£1.3m) will go towards delivering initiatives such as the microbudget production scheme Microwave, the sales event London UK Film Focus and the Production Finance Market.
As of April 1, Film London will be taking over the UKFC’s responsibilities for inward investment — including absorbing the office of the UK Film Commissioner. Full details on the new unit are expected to be announced later this month.