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Economic Achievements 2009/10 Local Talent Global Reach


Championing the Creative Sector

A Creative Region: An Innovative Agency

About EM Media EM Media’s investment portfolio demonstrates the agency’s hallmark – a smart investment strategy; complementing rather than duplicating other publicly funded activity and stimulating private investment in the creative sector.

EM Media is the digital agency for the East Midlands, one of a network of independent agencies strategically located across the country. EM Media champions the creative sector’s contribution to the economy whilst consistently setting for itself a ground-breaking and progressive agenda. EM Media has delivered transformational change in the region’s digital infrastructure and in the reputation and impact of East Midlands’ filmmaking.

The creative sector is more important to the economic well-being of the East Midlands than ever before

Our Investment Model EM Media is highly skilled in spotting market opportunity and invests in viable business ideas with market appeal. EM Media has a conversion rate of one in four development investments moving to production set against an industry norm of one in eight projects. EM Media’s targeted interventions deliver creative excellence, sector growth and economic benefit.

The East Midlands has experienced significant growth in the creative industries with a creative business growth rate of 10.4% compared to 8.0% for the rest of England. Since 2002, EM Media’s innovations have helped to deliver unprecedented economic growth of the creative sector, contributing £179m to the economy. EM Media has made over 700 investments including 42 feature films, nine new games and supported over 4,000 SMEs. Our content has been enjoyed in over a quarter of countries around the globe and in 2009/10 recoupment income increased by 27% on the previous year.

East Midlands Creative and Cultural businesses* 16,000 People employed in those businesses* 150,000 Proportion of all businesses in East Midlands* 10% East Midlands’ Creative Businesses growth rate* 10.4% Rest of England’s Creative Businesses growth rate* 8.0% Creative projects invested in 700 Feature films co-financed 42 Active developments on slate 45 Creative businesses supported >4000 Economic benefit generated £179 million

EM Media endeavours to build long-term investment relationships. Our investment model is designed to create long-term value for creative businesses which can be realised some years after a financial investment is made.

DEVELOPMENT

Assess quality and viability

IDEA

Assess market appeal

Creating long-term value

PRODUCTION INVESTMENT

Contents A Creative Region Championing the Creative Sector 2009/10 Economic Highlights 2009/10 Investment Activity 2002-10 Economic Benefit Oranges and Sunshine Economic Benefit Local Talent Global Reach

1 2 3/4 5/6 7/8 9 10

Evaluate performance

MARKET

*Unlocking the potential of the creative and cultural sector: A Meta Review of the Evidence Base, East Midlands, Experian 2009.

1

2

Review and monitor quality and project management costs


2009/10 Economic Highlights Invested £500,000

Creative Businesses Supported

780

Increase in Recoupment

27%

UK Theatrical Film Releases

4

Number of DVDs Sold

2 million

This Is England ‘86. Image: Dean Rogers

10 million people watched This Is England ’86 on Channel 4 and 399,000 people played Gangsta Zombies on Facebook

8 3

Successor EMMI Fund

EMMI Investments

In 2009 EM Media successfully secured finance from the East Midlands Development Agency to invest in innovative film and digital content. £0.5m was available to invest, with EM Media supporting its own costs of delivery. Significantly, the investment of £0.5m leveraged £6.6m in match finance. Investing key but not necessarily large amounts of finance at the right time, ensured economic benefit of over 25 times the amount invested.

•• Tyrannosaur •• Oranges and Sunshine •• AnDa Union •• Gangsta Zombies •• Best Laid Plans •• V1 Championship •• Weekend •• This Is England ’86 •• PS, Your Mystery Sender •• Over the Hill and Under Cover

Leveraged

£6,600,000

Economic Benefit

£12,800,000

4


2009/10

79

Key:

Investment Activity: Reach and Recoupment

Global Reach

Recoupment Activity

EM Media’s Financial Accounts

Approved Investments including

Summarised Profit & Loss Account 2009 -10

April

October Bronson opens in USA

Bronson at UK cinemas Donkey Punch opens in Holland Control opens in Spain This Is England opens in Portugal Better Things out on DVD

Strudel loan completes Pelican Blood equity begins

Dan Hodgett

Bronson opens in Norway

Courtesy British Silent Film Festival

September

Bunny and the Bull opens in the UK All Tomorrow’s Parties out on DVD Spinning Down the Derwent equity begins This Is England equity continues Six EMMI loans complete Control equity begins

Courtesy of Eye4Films

November

December

And When Did You Last See Your Father? opens in Mexico

4 feature documentaries

Income: RIFE Treasury RIFE Lottery emda Deferred income release Other income Exceptional item

£ 590,000 472,000 507,000 809,170 427,211 538,554 3,343,935

Expenditure and Investments: RIFE investments committed Other investments committed Other costs (inc tax) Provisions and Amortisation Surplus for the Year

£ 633,240 577,277 1,324,344 608,459 3,143,320 200,615

Summarised Balance Sheet 31 March 2010 Fixed assets Current assets Current liabilities Accruals & deferred income

£ 13,209 4,350,961 1,696,672 2,235,200

Net Assets

Liam Smith

Outso loan commences Unmade Beds equity begins

10 feature film developments

9 short films

Unmade Beds opens in the UK Unmade Beds out on DVD

May

5 film festivals

June Warp X loan payment continues

4 feature films

Bronson opens in Czech Republic and Denmark Bronson out on DVD Hush out on DVD

January

Jack English

July

February The Unloved opens in the UK She, A Chinese opens in the UK

Courtesy of Strawdog Studios

Unmade Beds equity continues

March August Donkey Punch opens in Belgium and Luxemborg Bronson opens in Australia and Finland This Is England opens in South Korea

EMMI fund completes Dead Man’s Shoes equity restarts Mum and Dad equity restarts

5

Dean Rogers

Bunny and the Bull out on DVD

2 games

of ull list View f ts made en investm 10 on our / in 2009 site web rg.uk ia.o

m-med

www.e

5 TV and interactive

6

432,298


2002-2010 East Midlands Economic Benefit

Film, Games, TV, Interactive

Project Investment

£12m

Business Support

£18m

£179 million Economic Benefit

Businesses Supported

4000

Raising Finance Brokerage Consultancy

Raised for Education Activity

£550,000

Skeletons

£400,000 in Derbyshire

Inward Investment

£36m

Partnership Finance Leveraged Project Spend

£56m

£57m

Locations Crew Facilities Made in the East Midlands

7

8


Oranges and Sunshine Economic Benefit

Local Talent Global Reach

Produced by Sixteen Midlands Directed by Jim Loach

EM Media product has been sold to 45 different countries around the world, with several new territories added in 2009/10

EM Media invested £125,000 as an equity investment into the regional company producing the debut feature from Jim Loach. This investment leveraged over £3 million of match finance from the private and public sector across the UK and Australia. The total economic benefit to the region was over £6 million. The investment created 26 jobs for local crew and created economic benefit of over 50 times the original investment.

% of EM Media Box Office earned overseas

50.4%

EM Media Worldwide Box Office

£17.6 million

Box Office by Country This Is England

Shane Meadows’ BAFTA-award winning This Is England was released in Portugal and South Korea during 2009/10, over two years after the UK release.

Production Investment

£125,000 Development Investment

£25,000

EM Media’s Top 3 films according to international box office: 1. Control 2. This Is England 3. A Cock and Bull Story Top 3 DVD sellers:

£6 million

1. This Is England 2. Dead Man’s Shoes 3. Control Impact of Project Spend

£2.7m

It is the range of timely, targeted interventions that has enabled local creative businesses to thrive and their output to reach the international marketplace. Incisive investment and targeted business support has enabled local businesses to compete in the global market place.

Intelligent investment in creative industries at a local level is critical to ensuring regional economic growth.

EM Media’s role as the catalyst for that growth is needed now more than ever before. Partnership Finance Leveraged

£3.2m

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10

UK Sweden France Spain Australia USA Germany Norway Denmark New Zealand Greece Portugal, Angola Benelux South Korea Iceland Slovenia


European Regional Development Fund

EM Media thanks all partners and stakeholders for their continued support.

www.em-media.org.uk

document design by www.seismik.co.uk

Robin Hood (Universal Studios) Image: David Appleby

Project Part-Financed by the European Union


EM Media Creative Achievement 09/10