Pinewood Studios is to plough millions of pounds into digital technology as it plans a charm offensive towards the TV sector.
It revealed the plan after posting record revenues of £50.7m and operating profit up 14% to £10.3m, but TV revenues for the year to 31 December were flat at £8.3m.
However, chief executive Ivan Dunleavy said he was optimistic about the health of British TV and the company will invest a seven-figure sum in providing digital workflow kit, improved cameras and technology to aid the continued migration from SD to HD.
Pinewood’s new 30,000 sq ft stage also became operational a few weeks ago and is already in use.
Dunleavy said its scale was key: “At 30,000 sq ft, it’s about two thirds of the capacity of the whole of BBC TVC. Its been designed as much for film as TV and we’re hoping to attract event TV with large live audience demands.”
Separately, the company took a £7.1m exceptional charge after it lost its battle for planning permission for Project Pinewood.