Film and television producers worry the Brexit will create uncertainty and could unravel much of the financial infrastructure the independent industry relies on.
“The decision to exit the European Union is a major blow to the U.K. film and TV industry,” said Michael Ryan, chairman of the Independent Film & Television Alliance in a statement. “This decision has just blown up our foundation – as of today, we no longer know how our relationships with co-producers, financiers and distributors will work, whether new taxes will be dropped on our activities in the rest of Europe or how production financing is going to be raised without any input from European funding agencies. The U.K. creative sector has been a strong and vibrant contributor to the economy – this is likely to be devastating for us.”
Source: Brexit Is “Major Blow” to Film, TV Industries – Hollywood Reporter
