27 Aug 2010

Overseas money boosts NZ film funding

9:05 pm on 27 August 2010

Funding for New Zealand's film-makers has almost doubled in the past four years, to reach almost $600 million.

Figures from the Screen Industry annual survey, released by Statistics New Zealand, show that while funding from local sources was almost static, overseas offerings soared.

The funds raised by film makers from local investors remained relatively consistent, at about $250 million, but international funding went up from $51 million in 2005 to $280 million in 2009.

During the period, most of the international money came from North American countries, particularly the United States.

Last year, North America accounted for 84% of all international funding.

During the four-year period total earnings for the screen industry rose by 6% to reach $2.8 billion.