Irish Expenditure Figures for the Film and Television industry increase by 13%
Figures released by IBEC today confirm that there has been an overall increase of 13% in Irish expenditure in Film and TV production for 2007. Figures have increased for the second year running, from €96.9 million in 2005, €161.2 million in 2006 to an estimated €182 million in 2007.
Much of this increase is due to an increase in large scale international independent TV drama shooting on location in Ireland. Major TV drama has increased by 35% to €154 million in 2007. Projects in receipt of the Irish Film Board International Production Fund account for €38.4 million in expenditure. The International Production Fund aims to ensure the continuation of international production in Ireland, by encouraging larger mobile international film and television projects to locate here. Projects which have benefited from this fund include feature films Dorothy Mills and The Escapist together with TV dramas The Tudors, George Gently and Murphy's Law 5.
Figures for feature film production are down in 2007, largely due to changes introduced in the UK tax incentive which have had a detrimental impact on Irish-UK co-productions. The end of sale and leaseback in 2006 also encouraged particularly high levels of production in 2006, the impact of which was felt in early 2007. Feature film activity has increased in the second half of 2007 with four indigenous feature film projects currently in production. The competitiveness of the Irish tax incentive for film production section 481 is currently under review by government.