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Attacks on film industry are 'damaging our reputation'

Fri, 01 Jul 2011

The Minister for Economic Development is rubbishing claims that the film industry is losing the Island money.

There's been bad publicity for the Government and local production company CinemaNX since it was revealed that £34m has been invested in films, which have only made £6m.

Allan Bell says these figures don't paint an accurate picture and don't take into account the £75.5m that has been spent here by people involved in the film industry.

This includes money for travel, accommodation, freight costs, catering and the hire of local crew and extras.

Apart from an initial investment 15 years ago of £500,000, Mr Bell says films aren't getting money from the tax payer as the industry is funding itself.

Mr Bell says film is a long term investment and it can take years for financial returns to come back.

The Minister also says it's a risky business and returns on every project aren't guaranteed.

He cites the massive success of TT3D as an example of things that have been achieved.

TT3D has taken £1.2 million pounds at cinemas in the UK alone and it's expected to keep making money in the future.

The film has also been sold in a number of countries and deals to sell it in the US, Canada and Japan are in discussion.

Mr Bell blames one politician for stirring up trouble for the industry and says 'we mustn't let the nay-sayers derail us now.'

One big deal is already said to have fallen through because of it and Mr Bell is worried about the damage the negative press is doing.

 

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