‘Star Wars’, ‘Avengers’ And ‘James Bond’ Boost Pinewood To Record Revenues
Pinewood Group, the holding company for the international network of studios and production facilities, announced record revenues today. The group, which has studios in Canada, Malaysia, the Dominican Republic, and Atlanta as well as the UK, has hosted Star Wars: Episode VII — The Force Awakens, Avengers: Age of Ultron and the latest James Bond film Spectre in recent months.
Revenue for the financial year ending March 31 was $118 million compared with $101 million the previous year. Operating profit stood at $9.11 million compared with $7.7 million the year before.
Pinewood chief exec Ivan Dunleavy is also hoping his long-awaited plans for Pinewood’s expansion plans, known as the Pinewood Studios Development Framework, will boost revenues further. Its first phase is currently underway. The program will add 1 million sq ft of new facilities, including 10 large stages with supporting infrastructure.
“Although we have hosted the three largest film productions of the year, being Star Wars: Episode VII — The Force Awakens, Avengers: Age of Ultron and the 24th Bond film Spectre, we continue to be unable to meet all the demand from large films,” commented Dunleavy in a statement. “This will be partly addressed by the first phase of the Pinewood expansion.”
Other high profile titles shooting at the group’s Shepperton Studios are Disney’s Alice Through the Looking Glass. Marvel’s Antman was the first production to shoot at Pinewood’s Georgia studios.
Aside from production services, Pinewood has also been looking increasingly at becoming an investor in some of the productions that have used its facilities.
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