According to figures published on 25 March by the UK Film Council, Market share of British films at the global boxoffice in 2009 hit an eight-year low. The stats come just weeks after the Film Distributors’ Association said the appetite for British films has never been higher.
The figures show that UK films secured a 6.7% market share in 2009, totalling $2 billion globally in spite of studio-bankrolled projects such as Harry Potter and the Half Blood Prince and Sherlock Holmes as well 2009 UK produced Slumdog Milllionaire, Fantastic Mr. Fox and The Tale Of Despereaux.
Analysts have to go back to 2002 to find market share on a par when that year British movies accounted for a 6.9% share. In 2008, U.K. movies grabbed a 15.1% share, totalling $4.2 billion.
The Council said the lower UK market share in 2009 can be explained by the reduced number of UK films cash flowed from overseas as compared to 2008, when The Dark Knight, Quantum of Solace and Mamma Mia! dominated the worldwide boxoffice.
UK Film Council CEO John Woodward played down the global slump in boxoffice revenue.
"It’s always tempting to look for trends in statistics, but this isn’t really possible when we look at U.K. films’ share of the global box office. That’s because these figures can fluctuate quite significantly every year thanks to only one or two massive films, like "Mamma Mia!" or the latest "James Bond," Woodward said. "So, whilst it’s disappointing to see the share drop in 2009, we’re anticipating a bounce-back next year, thanks mainly to the higher number of big event films made in the U.K. during 2009."