The combined film, television, visual effects, and animation production industry in British Columbia saw a record-breaking year for local economic spinoffs in 2022.
This is according to the newly released annual spending report by the Vancouver Economic Commission (VEC), with such reports on a full calendar year’s performance completed typically in the Fall of the following year after there is a better picture of the industry’s total payroll.
But with the dissolution of VEC, this is expected to be the final annual report measuring the local industry’s performance.
VEC estimates BC’s industry generated $4.9 billion, which represents a new all-time historic annual record — up from the previous record of $4.6 billion in 2021 or about a 5% year-over-year growth.
The film and television sector of the industry saw a slight year-over-year drop from $3.5 billion in 2021 to $3.4 billion in 2022, but this was more than offset by the substantial increase in the animation and visual effects post-production sector from $1.1 billion in 2021 to $1.4 billion in 2022.
This represents a nearly five-fold increase of BC’s animation and visual effect post-production sector spending compared to a decade ago, when about $300 million was recorded in 2012.
For the film and television sector component only, its spending has nearly tripled from $1.2 billion in 2012, with an average annual growth of 13.6% over the decade-long period.
Based on VEC’s annual tallies, the industry has now collectively invested $34.2 billion into BC’s economy, with $18.8 billion being paid as wages directly to local residents.
The combined spending of the film, television, visual effects, and animation production industry in British Columbia. (Vancouver Economic Commission)
The annual spending of the film and television production sector in British Columbia. (Vancouver Economic Commission)
The annual spending of the animation and visual effects post-production sector in British Columbia. (Vancouver Economic Commission)
BC’s industry is, of course, based within Metro Vancouver, which accounts for about 75% of all activity the industry across the province.
According to VEC, Metro Vancouver remains the third-largest production centre in North America behind Los Angeles and New York.
“Vancouver’s film industry is globally acclaimed for the quality of its crews, locations and competitive production environment. Productions filming in Vancouver benefit from the city’s location in the West Coast time zone, government support, and stable and competitive tax incentives, along with a skilled talent base and connected community,” states the report.
But it remains to seen what the full extent of the months-long 2023 Hollywood writers strike will have on the global industry, including BC. VEC anticipates there will be a “significant short-term drop,” but the industry in BC has fundamental strengths and therefore a positive long-term outlook.
Disney’s Tron: Ares, also known as the third instalment in the Tron franchise, never began production this past summer due to the strike. As well, for the same reason, HBO has delayed the start of the much-anticipated film production of the second season of The Last of Us within Vancouver.