Screen Industry Hits $3.3 Billion High

Media Release

Tues, April 9, 2013

Screen Industry Hits $3.3 Billion High

New Zealand screen industry earnings have broken the $3 billion barrier for the first time.

Statistics New Zealand figures released today show the industry grew by 10 percent to reach revenue of $3.29 billion last year.

‘To achieve figures like these in the face of intense international competition is a real testimony to the quality and resourcefulness of the New Zealand industry,’ said Film New Zealand Chief Executive Gisella Carr.

The survey tracks revenue and other indicators in film and television production and post-production, film distribution and television broadcasting in the twelve months to 1 April 2012.

It shows income from production and post-production for the first time made up slightly more than half the total, at $1.67 billion.

‘This is significant as it is the sector which is creating growth, particularly from feature films,’ said Gisella Carr. Revenue from feature films rose almost 50 percent to top $1 billion for the first time.

‘These results could never have been dreamed of a few years ago,’ said Gisella Carr.

‘The screen business is a young, 21st-century type of industry. Most other countries want an industry like this. New Zealand has it, and we can be very proud of it.’

Gisella Carr said government investment in the sector was bringing an excellent return.

‘The outlay is modest compared to total revenue, but it is absolutely vital in bringing screen work to New Zealand. The revenue figures underline the importance of the United States as our major partner.’
However she noted that the results were not consistent across the screen sector.

‘The work is by nature volatile and project-driven, and not all sectors of the industry are experiencing the same growth. We are currently showing a lot of strength in international film production. We need to retain that, but for growth to continue we also need to diversify.

‘The challenge is to get sustained work for New Zealand companies, particularly in attracting the growing international market in television programmes and commercials. At the moment we’re getting only a tiny fraction of that business.’

She said in such a changeable industry any one year’s results could not be looked at in isolation.
‘The crucial thing is the trend over time. And what the figures consistently show is that the industry is continuing to grow as a whole.’

Film NZ is the agency responsible for promoting New Zealand as a centre for international screen business.

ENDS

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