The Mayor of London, Sadiq Khan, just announced an incredibly cool £7.3 million investment for Film London. This funding will strengthen the capital’s film, television, animation, and gaming industries over the next four years. This funding is only one slice—and not the biggest slice—of a time-limited initiative that goes beyond £10 million. It focuses on supporting the city’s creative industries, worth £51.7 billion to London’s economy annually and responsible for one in five jobs.
The funding will be allocated as follows: £4.8 million will support film initiatives and film festivals. £1.5 million will focus on the gaming sector. £940,000 will be directed towards television and animation projects. This investment will catalyze significant economic development and job creation in those areas, too.
Supporting the Creative Ecosystem
Film London insures financial support from various partners. This includes core funding through grant-in-aid for the Department of Culture, Media and Sport (DCMS), the British Film Institute (BFI), Arts Council England and the Department for International Trade (DIT). These collaborations are enabling Film London to offer a wide range of exciting, innovative, inclusive programs and services. Their mission is to improve the state of the city’s culture and creativity.
For the fiscal year ending March 31 2024, Film London declared an income of £6.7 million. Mayor Khan’s recent investment will more than triple this number. It will allow for broader programming and enhance the support and services offered to filmmakers, animators and game developers.
The Mayor’s commitment to the creative industries aligns with the London Growth Plan, which aims to boost London’s economy by £107 billion by 2035. This high-level, strategic move is designed to boost creativity and productivity across the capital – keeping the culture sectors growing and glowing.
Economic Impact and Job Creation
The expected return of this investment is huge. It is estimated that the funding of film projects would bring in more than £2.5 billion of film-related investments to London. Additionally, this funding will help generate as many as 42,000 jobs in the creative industries related to film and television crews.
By investing in creative industries, Khan aims to not only preserve but enhance London’s reputation as a global hub for filmmaking and media production. And right away the Mayor made it clear how important having a strong creative sector was to the overall economic health of the city. It’s resilience is also significant.
A Vision for the Future
Sadiq Khan’s investment in Film London underscores his administration’s commitment to fostering a dynamic and diverse cultural landscape in the capital. This new funding will enable Film London to increase support for local talent and sustainability. It will further support our aim of communicating London’s distinctive creative DNA to the world.