‘Spectre’ Helped Boost Pinewood Studios Profit
If there’s one thing that Pinewood Studios is known for, it is being the primary studio used to shoot most of James Bond movies. The studio also has a dedicated stage for 007 movies that has been operational since 1976 when it was used to shoot “The Spy Who Loved Me”. Naturally when “Spectre” was announced, the same stage was being readied so that the upcoming movie could be shot in it. The reason why Bond movies continue to shoot there is because on an average a Bond movie brings in a lot of revenue.
According to Express & Star, production on the 24th Bond installment “Spectre” along with blockbusters like “Star Wars: Episode VII” & “Avengers: Age of Ultron” has increased the group’s revenues by 17% at least, taking it from £64.1 million to £75 million over the year. Operating profits too have increased from £4.9 million to £5.8 million since the studio also operates in other locations like UK, Toronto, Atlanta, Dominican Republic and Malaysia. However, unfortunately the studio’s TV revenues went down from £6.2 million to £5.8 million. Pinewood Group CEO Ivan Dunleavy said, “Pinewood is a uniquely positioned independent operator and has once again delivered strong growth”.
Given the ever growing demand for better production facilities, the studio will also be expanding their current setup and add new facilities like 10 new stages, production offices and workshops. Although the studio is flourishing as ever, Mr. Dunleavy said that it has not been able to meet all the demands by large films. Fortunately the first phase of the expansion of the studio plans to tackle that problem.
Apart from the afore mentioned blockbusters, “Suicide Squad” had booked Pinewood Studios in Toronto for its pre-production that took place in February. Makers of the movie also booked the studio for filming from mid-April to September this year. Other movies like “Spectre” marks the return of Daniel Craig as 007 James Bond which will release in the UK on October 23 while “Star Wars: Episode VII” will open on December 18.
Photo source: Facebook/Pinewood Studios