Owen Spencer quoted in Property Week on the role of the government’s industrial strategy for film and TV studios
Owen Spencer, Counsel in the Commercial Real Estate team, has been quoted in Property Week where he welcomes the government’s recent industrial strategy and its aim to consult with businesses – however, he warns there is much more to be done to preserve the sector’s growth.
He calls for greater tax incentives to attract more international productions and for urgent attention to be paid to the shortage of skilled crew. He points out that there is little point in building millions of square feet of studio space unless you have crews to work them.
He goes on to warn, that in the South East, where the majority of studios are concentrated, the power supply issues could limit growth. The growing influence of AI in the film and TV sector should not be underestimated and calls for the UK to become a centre for AI skills as this would be a force multiplier across many sectors, not least in the creative industries. However, he cautions, AI significantly increases the demand for power.
The full article, published on 23 October 2024, can be accessed here behind a paywall.
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