UK audio visual sector punches above its weight so don’t let the UK mess it up, warns Luke Johnson at BVA AGM
1 November 2011: Today, Luke Johnson, Chairman of private equity house Risk Capital Partners Ltd and former Chair of Channel 4, addressed Britain’s video industry leaders in a fireside chat with British Video Association (BVA) Director General, Lavinia Carey, at the Wellcome Collection Conference Centre in London.
Stressing the importance of ensuring that video entertainment continues to deliver the revenues needed to invest in new productions, as well as protecting the video industry from IP theft and other business models which do not allow content creators to get a fair price for their products, Johnson said: 
“The video industry is an incredibly important part of the economics of how film and television is produced and it is a key part of the economic infrastructure of the UK but it is not just about money. It is about the UK’s impact on the world. Culturally, the strength and vibrancy of our creative and media industries punch well above our weight and add to our influence in the world. To just give all that away would be a tragedy.”
In her report to 150 guests at the 31st AGM Lavinia Carey reflected on a year of rapid change for the video industry, which has seen increasing numbers of viewers take up digital video services from a growing range of new platforms, enabling audiences to access video entertainment in more ways than ever before.
Discussing the BVA’s role in 2011, Lavinia said: “As the industry evolves, the BVA has repositioned video entertainment this year to ensure it is not just seen as a physical product but also an online proposition, whether to stream or download to own. In addition, the BVA has sought to encourage the media and politicians to recognise that physical and digital content are not in competition with each other but rather co-exist, delivering video entertainment to viewers in ways that suit their lifestyles both at home and on the move. This distinction is a crucial step in improving understanding amongst government and regulatory representatives about convergence of platforms and the importance of the video industry within the audiovisual ecosystem as a whole. We must continue our efforts to ensure this is not undermined by potentially detrimental legislation and the effects of copyright theft.”
BVA Chairman, Charlie McAuley, thanked BVA members and associate members for their continued support throughout the year. In his speech to the AGM, he pointed to the BVA’s beefed-up research programme in 2011 as an essential tool to help the industry understand changes in consumer behaviour and how to manage the challenges in maintaining value in the market.
He said: “Oxford Economics was commissioned to conduct research into the true value of video entertainment as part of a wider study looking at the importance of the income from our traditional physical business and the value created in the on-line market. This has been extremely useful, in addition to the scale and value of our market, to provide further evidence of the massive popularity of physical discs with the public, the revenue from which still drives investment in new production.”
Oxford Economics’ research into the value of the video entertainment industry to the British economy found that video entertainment generates on average 47% of film revenues and a third of the revenues for TV drama series.
Lavinia explained: “The BVA’s research has been used to demonstrate how vital the video industry is to the British economy and to British creativity. Put simply – without the revenue stream from video, many films and programmes wouldn’t be made. The BVA has used this research to emphasise to policy makers why copyright theft, which costs the audiovisual sector more than £500 million in annual losses, is a considerable threat to the industry’s eco-system.”
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Notes to Editors
For more information and/or images to illustrate the story, please contact Stephanie Blott or Esme Knight on 0207 618 9116 or email bva@luther.co.uk.
About the BVA
The British Video Association exists to champion video entertainment in all its forms, from packaged media such as DVD and Blu-ray Discs through to digital services available on demand, to rent or to own on portable devices and for home viewing.
The proliferation of content delivery channels is increasing consumer choice and the video industry releases about 8,000 titles a year, on which consumers spent £2.3 billion in 2010. It is the single most valuable part of the audiovisual sector in terms of generating returns on investment for production.
The BVA’s members include film companies, television companies and independent labels who produce, license and distribute pre-recorded video entertainment, covering film, sport & fitness, music, TV, children’s and special interest programming. Its members account for some 90% of the sector.
The 2011 BVA Yearbook is available for purchase. Please see the BVA website (below) for details.
Visit www.bva.org.uk
Visit also www.findanyfilm.com
