Star Wars Boosts British Economy by £150 million
The financial impact of the production of Star Wars: Episode VII: The Force Awakens on Britain is around £150 million.
Fans of Star Wars will get the opportunity to see Carrie Fisher, Harrison Ford, and Mark Hamill, the original Star Wars trilogy stars of over three decades ago, once again in December. They will be accompanied by a brand new crew comprising Daisy Ridley, John Boyega, Andy Serkis, Gwendoline Christie, and Max Von Sydow.
Although there are three more months left for the movie to premiere, it is already getting a lot of publicity. Boyega and Ridley went to London recently to celebrate a brand new line of products, including toys, based on the new movie from Disney.
The shooting was held in Britain because of the easy availability of skilled personnel. The movie is being filmed at Pinewood Studios in Buckinghamshire, and from March 2013 to November 2014, the number of employees related to direct production had shot up to 258.
They received a total salary of £11.2 million, which made up part of the entire £147.6 million production cost of the movie during this time frame. According to the accounts, which was recently released, “at the end period, the estimated total cost was within budget.” The movie generated jobs for hundreds of people based in the UK.
The new Star Wars movie is on the way to becoming one of the most lucrative of Star Wars movies. The day its latest trailer was released, it received 30 million views, becoming the most viewed video in 24 hours on YouTube. There are plans to film two more Star Wars movies in Britain.
The British Film Institute (BFI) released figures showing that international filmmakers spent £1.4 billion in Britain in 2014, indicating an increase of 35% when compared to the amount spent in 2013.
Large US studios spent £300 million more in the UK, starting 2013, and they are spending three times more than what they were spending in 2008. This increased spending has encouraged Disney to establish its new special effects studio in London.
Three of the biggest films were produced at Pinewood Studios this year—Spectre, the 24th James Bond movie, Avengers: Age of Ultron, and Star Wars. These movies increased Pinewood’s revenue by 17% to a record amount of £75 million for the fiscal year that ended March 31, 2015. The operating profit shot up to £5.8 million from £0.9 million.
