The first quarter of 2024 has seen the UK film industry try to regain some of its previous swagger. In recent years, the UK has seen an increase in the number of local cities being used as doubles for international capitals, bringing more opportunities for local teams.
Funding – and where to find it – has been a major topic for discussion, with industry players encouraging independent filmmakers to turn to less traditional sources of funding, such as private equity. There’s also been a major push to invest in grassroots talent to ensure experienced people stay within the local industry and pass on their hard-earned knowledge.
Another major trend has been a focus on changing the workplace culture, a theme seen across multiple industries, as discussed by management and culture expert Dr. Nahla Khaddage Bou-Diab.
With plenty of exciting innovations ahead, here are some industry trends to keep an eye on.
A year to rebuild and grow
From the pandemic to writers’ strikes, the film industry has witnessed plenty of turmoil since 2020. Many are trying to figure out their new normal at a time when opportunities are not exactly overflowing. Independent filmmakers are finding themselves in need of creative solutions to age-old problems – where to find funding, how to produce high-quality content on a tight budget, and what to do to make people take notice in a society overwhelmed by content that is simply a thumb scroll away.
The demand for diverse storytelling continues
The industry has seen a rise in the demand for diverse storytelling and this shows no signs of stopping in 2024. Audiences are hungry for stories that represent their individual experiences and perspectives. They want narratives that challenge traditional norms, and creatives have been happy to answer the call and share their own unique stories.
Not content to wait for opportunities to arise, more and more individuals from underrepresented backgrounds are taking action and giving their voices a platform through film and TV. Their stories explore a variety of diverse experiences, not only creating awareness among viewers but also providing opportunities behind the camera for people from these underrepresented groups.
Show me the money
Funding is, as always, tricky to come by. Traditional sources, such as the BFI Film Fund, are no longer enough. They come with strings attached and have limited availability. People are turning away from these models and looking towards less traditional funding options, such as private equity investment and crowdfunding options.
Private equity investors look for profitable ways to diversify their portfolios and films and TV are a great way to do that without too much risk. This is an advantage for young filmmakers who, aside from obtaining funding, can benefit from investors’ expertise. As more productions see success using these sources, this trend is likely to pick up momentum in the future.
Colouring outside the lines
Creatives have always pushed boundaries, and the film industry is no stranger to this. With the development of AI technology such as Sony’s Virtual Production Tool Set and Creator’s Cloud, individuals can enhance their workflows and use virtual production to produce content in a sustainable manner.
These technologies also help up-and-coming filmmakers produce content on a budget. Just look at what Steven Soderbergh did with Unsane, the psychological thriller he shot on his iPhone 7 Plus! Creators can use technology to shoot, edit, and distribute quality content without requiring studio space or an extensive budget.
As the UK’s film industry navigates the challenges brought on by the changing landscape of film and TV production, the trends that stick remain to be seen. For now, creatives welcome the development of technology and out-of-the-box thinking that continues to lead to new and exciting opportunities.
