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£500m Film and TV Production Restart Scheme

Friday, 29 January 2021

This fund is designed to help film and television production companies that are unable to obtain coronavirus insurance recommence their activities.

The Film and TV Production Restart Scheme aims to help to get TV and film productions that were halted or delayed by a lack of insurance back up and running. The intention is to give productions the confidence that they will be supported if future losses are incurred due to coronavirus (COVID-19).

The £500 million scheme is designed to fill the gap left by the lack of available insurance and cover coronavirus-related losses for cast member and crew illnesses and filming delays or disruptions caused by the ongoing struggles surrounding the virus. It is expected to support over 40,000 jobs by ensuring planned productions can proceed after a period of disruption.

Eligible productions will receive compensation for costs caused by coronavirus delays up to a value of 20% of the production budget, with abandonment of productions due to coronavirus to be covered up to 70% of the production budget. There will be a total cap of £5 million on claims per production.

The funding is available to all UK film and television productions made by companies where at least half of the production budget is spent in the UK and is estimated to cover more than 70% of the film and TV production market.

The deadline for productions to register for the scheme and restart shooting has been extended from December 2020 until 28 February 2021. The aim is to help more productions access the scheme, reflecting ongoing uncertainty and the continued inability of productions to secure private insurance for coronavirus-related risks.

News Article From: Kirklees 4 Business | Open 4 Business



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