Published on : Jul 01, 2014
Warner Bros, a Time Warner Inc. company, is expanding operations in the United Kingdom to take advantage of favorable policies implemented by the government here. These policies have been specifically designed to promote the animation, film, and video-game industries.
Three new stages are being planned by the studio in the United Kingdom. This will take its total in the U.K. to 13 by the end of 2014. This will, in turn, enable the company to simultaneously produce four major features. This week also marked the commencement of Warner Bros’ latest film ‘Tarzan’ that features Samuel L. Jackson in the lead role.
Countries are vying to attract high-paying media and production jobs. Hollywood is enjoying the benefits of a number of new subsidies in the U.S. as well as abroad. The David Cameron-led government is launching new initiatives for the film and media industry, including cutting the red tape for obtaining filming permits. Another strategy geared towards doubling exports from the film and production sector – to take this figure to USD 31 billion by 2020 – has been introduced.
The chairman of Warner Bros said that the studio has worked closely with British talent to produce some of the most successful films in the United Kingdom. Backed by the new policy changes, the studio hopes to further innovation and creativity that exists in the U.K.
The U.K. has immensely benefited from incentives to attract more filmmakers to its shores. As per current rules in the country, a movie that qualifies for rebates can claim a up to 25% if it has a budget of GBP 20 million or less, filmed in the U.K. Movies with a budget higher than GBP 20 million can claim a 20% rebate on the same conditions.