With the British film and TV industry in the throes of a capacity crisis, it’s a good time to be in the studio facilities business. The Pinewood Shepperton group today announced consolidated results for the six months ended September 30th with £36.6M ($ 59.1M) in revenues compared to £27.1M ($ 43.8M) in the same period last year. After tax profit was $ 5.5M, up from $ 3.2M in 2012. The Pinewood studio is currently host to Kenneth Branagh’s lavish Cinderella and just had Ridley Scott’s Exodus on the lot which has now gone on location. Lucasfilm has also hung its shingle with the new Star Wars installment gearing up to shoot in 2014. Johnny Depp-starrer Ali ce In Wonderland 2 is also expected to turn up and Bond will be back with No. 24 next year. Over at nearby Shepperton, Marvel has wrapped Into The Woods and has The Avengers 2 on deck. But I hear its Ant Man had to forego shooting in the UK due to the lack of space. CEO Ivan Dunleavy said today, “The UK, and Pinewood Shepperton in particular, continue to be in great demand from international content producers. However, in order to continue growing the UK’s market share, we will need more studios and related facilities.†A public inquiry began on November 19th into the Pinewood expansion project. It’s previously made two bids to expand, but each have been rejected by the local Council, in part because the project is eyeing protected land. Ahead of the Council’s most recent rejection last May, Hollywood studios including Disney, Fox and Universal wrote to decision-makers in support. It’s hoped the appeal process will yield a positive result; with the UK’s new tax break for high-end TV, studios are filled to the rafters and alternative stage space is being improvised.
On December 4th, Pinewood’s near-London facility will inaugurate a new 45,000 square foot space that’s going by the name Q Stage and which already has plenty of interest from clients. In keeping with the Bond theme – there’s already a 007 Stage – the franchise’s Ben Whishaw will officially unveil Q Stage.
Pinewood Shepperton is also busy outside the UK with its Pinewood Indomina Studios in the Dominican Republic opening this past September. Construction has also begun on Pinewood Atlanta Studios and a joint venture with Chinese mogul Bruno Wu’s Seven Stars Media Limited to assess business proposals in China is progressing. Pinewood will also continue to invest in four British indie films per year. Its latest, Powder Room, opens in the UK on December 6th.
Deadline.com
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