Economic Review of the Revenue Model for UK Independent Film September 2021

The BFI is seeking to commission a new report on the detailed economics of the current value chain for UK independent film, and the overall dynamics of the marketplace for such films, focussing on the flow of revenues. The focus is on independent films with budgets of up to £15 million. This work will be informed by the huge shifts that have taken place in the ways that audiences access films in a world of digital media and in particular the impact of streaming services. The review will provide industry with robust and reliable evidence and economic analysis of the value chain for UK independent film. The analysis will focus on both the relative balance of revenues from the component parts of the value chain as well as indicative levels of return from those different segments for independent feature films of different budget levels. The review should also be accompanied by a set of recommendations (with blue sky and/or innovative recommendations that would benefit all aspects of the industry actively encouraged), rooted in the objective economic analysis, which will be used to identify priorities for future action. Working with key stakeholders including PACT and the UK's Public Service Broadcasters the economic review will be based on solid economic evidence focussed on the flow of revenues. Whilst the study focuses primarily on feature length films, encompassing all genres from drama to documentary, the wider scope of film formats e.g. short films and/or episodic independent film should also be considered if the equivalent value chains bring additional insight or evidence to support the report's recommendations for feature length films.