insiderblmDanny Boyle, Steve McQueen and other leading British film-makers have called on the government to offer financial support to the UK’s big cinema chains.
“These companies represent over 80 per cent of the market,” they write in a letter to chancellor Rishi Sunak published in the Sunday Times.
“Without them the future of the entire UK film industry would look extremely precarious.”
Sam Mendes and Christopher Nolan are among the other signatories.
Bond producers Barbara Broccoli and Michael G Wilson, Love, Actually director Richard Curtis, Bend It Like Beckham director Gurinder Chadha, actor Jude Law and broadcaster Stephen Fry have also put their names to it.
“We recognise the support that government has already been able to provide,” the letter states.
“But we fear that this will not be enough, with the challenges being most acute for those larger cinema operators who have not been able to access any tailored funding.
“UK cinema stands on the edge of an abyss,” it concludes. “We urgently need targeted funding support to ensure that future generations can enjoy the magic of cinema.”
Cineworld, Odeon and Vue are the UK’s the leading three chains and account for almost 70 percent of the exhibitor market according to the Statista website.
Last month Odeon owner AMC Entertainment Holdings said it was running out of money and that its “current cash burn rates” were not sustainable.
Cineworld has also reported huge losses due to the coronavirus pandemic and is reportedly considering closing some of its UK cinemas permanently.
The BBC News website has approached the Treasury for comment.
