U.K. COVID Scheme Backs $2.6B Worth of Film, TV Productions
The scheme — which was officially launched on July 28 last year after months of discussions with the industry — was aimed at solving one of the biggest issues coming out of the pandemic, with many independent projects unable to get the necessary insurance due to fears of Coronavirus-related delays and interruptions such as illness amongst key cast and crew.
“The pandemic brought production to a halt early last year and unable to restart without insurance cover against potential COVID disruption, however the government’s Film & TV Production Restart Scheme has been a game-changer for the industry’s recovery,” said BFI CEO Ben Roberts. “A year down the line we are looking at a booming sector attracting further commercial investment and opportunities for more jobs and contributing to the UK’s economy.
Statistics support Roberts’ enthusiasm and indicate the impressive results of the scheme. Official figures from the BFI — which includes studio investments alongside those from the indie sector — show that total spend on film and high-end TV in the first quarter of 2021
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