Related: Why Elizabeth & Will Didn't Return In Pirates of the Caribbean 4 Pirates Of The Caribbean is now a major franchise, having grossed over $4 billion worldwide collectively. Both the film and Depp's performance were major hits, and back to back sequels were quickly put in production. The studio was seriously concerned about star Johnny Depp's eccentric lead performance, which he famously modeled on Keith Richards, but this proved to be the movie's ace in the hole. If that happens then it may never be possible to tell whether Disney’s spending on it tops its predecessor.They eventually rolled the dice on a big-budget version with a major cast, with Pirates Of The Caribbean hitting screens in 2003.
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In January Norwegian directors Joachim Rønning and Espen Sandberg told industry website Deadline that they will be shooting the movie “at the end of the year” in both Puerto Rico and New Orleans. It has been given the provisional title of ‘Dead Men Tell No Tales’ and is due for release in 2016. Some middle-to-low budget films are going to find themselves without crew because all the American films are shooting here.”Ī fifth instalment of the Pirates franchise is being planned and Mr Depp will return to play Jack Sparrow.
In November Edgar Wright, the director of British movies Hot Fuzz and The World’s End, said that “while the tax break is good for Hollywood films shooting here, it’s probably not that great for British films shooting in the UK. To make the most of it Pinewood is now preparing a $340 million (£200 million) expansion to double filming space. Last month Pinewood reported that its profits almost tripled to $6.1 million (£3.6 million) in the year to the end of March thanks to an increase in the number of Hollywood productions being filmed there. He added “it is great news for people working at Pinewood Studios, from the set designers to the carpenters.” Abrams was pictured at the Buckinghamshire studio with UK chancellor George Osborne who said “I have been determined that we back our brilliant creative industries which is why we have invested in skills and training as well as providing tax relief for films, high-end TV, animation, video games and regional theatre.” It also picked Pinewood as the home of the new movie Star Wars: Episode VII which is currently shooting. Filming is underway at Pinewood on Disney’s sequel to its 2012 hit Avengers which is the third highest-grossing movie of all time. They include Shepperton Studios and its counterparts Leavesden and Ealing in addition to Pinewood.ĭisney has chosen the UK as the location to film this year’s blockbuster Maleficent as well as three movies based on its Marvel comics division - Captain America, Guardians of the Galaxy and Thor 2. The tax breaks have made the UK a popular location for filming and the London area alone is home to almost 30 movie-making locations. This is likely to be achieved as ‘Pirates of the Caribbean On Stranger Tides’ has been awarded a final British Film Certificate.”ĭisney was handed a total of $32.1 million (£18.8 million) from the UK tax authorities to make On Stranger Tides and it was money well spent.Īccording to the British Film Institute, the tax relief costs the UK treasury around $256 million (£150 million) annually but in terms of Gross Domestic Product (GDP) it contributes $20.50 (£12) to every $1.70 (£1) spent. The financial statements say that “the directors consider the company’s key non-financial performance indicator to be whether ‘Pirates of the Caribbean On Stranger Tides’ qualifies as a British Film under UK Film Tax Credit legislation. It explains why big ticket movies are eligible for the tax break and On Stranger Tides is no exception. The spending brought a tremendous boost to the UK economy in addition to keeping British production staff in jobs. The production staff peaked at 895 and they were paid a total of $17.8 million (£10.4 million). One of the biggest costs of making On Stranger Tides was paying the production staff and actors with Mr Depp alone believed to have received $55 million for the movie. At the period end, the estimated cost of the film was in line with its budgeted cost, and the film continued to be funded by the financiers.” They say that “the directors consider the company’s key financial performance indicator to be whether ‘Pirates of the Caribbean On Stranger Tides’ is produced in line with the agreed budget. According to the financial statements, Disney didn’t overspend when making On Stranger Tides.
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