Yesterday the Creative England team hosted an event at Cannes Film Festival alongside UK Business Angels Association to discuss the current landscape of film investment. The meeting took place at Pinewood Studio Group's Villa and brought together members of the film industry and investment community to talk about potential opportunities for future investment in film businesses. Creative England's CEO Caroline Norbury attended, with UK Business Angels Association CEO Jenny Tooth and Money+Co CEO and Chairman of Rockpool Investments LLP, Nicola Horlick.
In July 2014, Creative England and UK Business Angels Association will launch a national programme aimed at building a community of Angel Investors who are interested in funding film businesses and SME's. This morning's event acted as an opportunity to kickstart early discussions with film industry personnel, funders, producers and production companies and explore potential future steps.
Talking about our upcoming collaboration, Jenny Tooth said: "We work with over 15,000 Angel Investors that have collectively invested over £1 billion in small businesses. Angel Investors are the most significant source of investment and bring not only finance but extensive business skills and market links to support successful growth. We will be raising awareness among this community around the country, working to develop syndicates of Angel Investors who want to invest long term in businesses in creative industries and film related areas, whether that is in new technology, new platforms or models for distribution.”
Nicola Horlick was also optimistic about the continued growth of the UK Film Industry. "During what we now refer to as the ‘great recession' we all watched as we saw increasingly worrying falls in growth across the economy, but the film industry continued to thrive and grow year on year, proving what a vital contribution it makes to economic growth and stability in the UK. Our investors recognise that film is an excellent diversifier in a portfolio and we are reporting very attractive returns from our early investments. I believe that this is an area of increasing interest to both institutional and high net worth investors.”
Creative England CEO Caroline Norbury supported these predictions and highlighted how the creative industries continue to be underestimated. "Despite the creative industries being the UK's fastest growing industrial sector and worth £71.4 billion per year to the UK economy, that's £8million an hour, there is still apprehension around investing in creative businesses.
"There are huge opportunities for investment, not just in individual film projects but in small creative film businesses throughout the value chain. We want to create a sustainable community of investors who are passionate about the industry and who want to invest in its long-term future.”
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