Isle of Man government recouped just £6.3m of its £34m investment in local film industry, according to Treasury figures
The Isle of Man's attempts to generate a self-sustaining film industry have cost the local government upwards of £27m, according to figures released by the Treasury. Since 2007 the Manx economy has invested nearly £34m into 13 productions based on the island. It has recouped just £6.3m.
The news looks likely to tarnish the Isle of Man's reputation as a destination of choice for independent film-makers. Figures suggest that the government-funded production company CinemaNX ploughed £12m into the 2009 Richard Linklater film Me and Orson Welles for a return of only £2m. It also wrote off £2.2m of its £2.9m investment in the Burt Reynolds comedy A Bunch of Amateurs and £717,000 of its £1.4m investment in Heartless, an arthouse horror film by Philip Ridley.
"Film is an industry which is, by reputation, risky," said treasury minister Anne Craine.
The Isle of Man's attempts to generate a self-sustaining film industry have cost the local government upwards of £27m, according to figures released by the Treasury. Since 2007 the Manx economy has invested nearly £34m into 13 productions based on the island. It has recouped just £6.3m.
The news looks likely to tarnish the Isle of Man's reputation as a destination of choice for independent film-makers. Figures suggest that the government-funded production company CinemaNX ploughed £12m into the 2009 Richard Linklater film Me and Orson Welles for a return of only £2m. It also wrote off £2.2m of its £2.9m investment in the Burt Reynolds comedy A Bunch of Amateurs and £717,000 of its £1.4m investment in Heartless, an arthouse horror film by Philip Ridley.
"Film is an industry which is, by reputation, risky," said treasury minister Anne Craine.
- 6/17/2011
- by Xan Brooks
- The Guardian - Film News
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