Philippine film industry partners with British Council for economic assessment

The Film Development Council of the Philippines (FDCP) and the British Council have signed a Memorandum of Agreement to conduct the Philippine Film Industry Economic Impact Assessment. This initiative aims to gather data on the industry’s contribution to the national economy and establish an evidence base for future growth policies.

The assessment will analyze the economic impact of the film value chain over the last three to five years, specifically focusing on production, distribution, and exhibition. It will also evaluate existing incentive programs such as the Film Location Incentive Program (FLIP), the International Co-Production Fund (ICOF), and CreatePHFilms.

This study comes amid challenges facing the local industry, including declining cinema attendance and shifting consumer habits. Research in Metro Manila indicates that 67% of surveyed moviegoers prefer streaming services, while 83% favor foreign films over local productions. The assessment seeks to identify methods for measuring economic impact and provide policy recommendations to strengthen government support for the sector.