THERE is no doubt the film industry has hit the headlines as of late.

Onchan MHK and Liberal Vannin Party leader Peter Karran has recently asked a range of questions in the House of Keys about the industry.

One of them related to the investment - and return from - the films made in the Island.

In the House of Keys it was revealed that CinemaNX had made a £33m investment in a number of films but had only seen a £6m return (so far).

However those involved with the industry say this figure does not show the full picture and have stated the industry has made money for the Island.

Economic Development Minister Allan Bell MHK and chairman of CinemaNX Steve Christian have both issued robust defences of the industry and explained how it has benefited the Isle of Man.

Mr Bell said: "The notion that film has lost money is pure fantasy."

The latest project to hit the big screen has been TT3D: Closer to the Edge. 

Mr Bell said: "What a fantastic achievement this has been for the Isle of Man.

"This is the film that everyone said was impossible to make and yet, here we are with a major success on our hands.

"The film has so far been seen by over 135,000 people in the UK and when we go out on dvd later in the year the viewership will be in the region of 300,000.

"UK box-office receipts currently are in excess of £1.2million. The number of UK TV viewers in the next 30 months is likely to be in excess of 3million.

"The amount of positive media exposure this film has generated for the Isle of Man cannot be overestimated and will benefit the Island for many years to come.

"The film has also sold in Australia, France, Germany, Scandinavia, South Korea, Portugal and many other smaller countries. Deals for the sale of the movie in the US, Canada, Italy and Japan are currently under discussion."

A news release from the Department of Economic Affairs said TT3D is not the only success story for CinemaNX and Isle of Man Film.

During the past 16 years the Isle of Man has co-financed and co-produced 96 feature films, tv drama series and/or animation projects.

During this time, in excess of 210,000 bed-nights have been generated by the industry – 6,746 nights for this last financial year alone.

An estimated total local spend of £75.5million has been generated by the 96 productions to date.

The four projects produced on the Island this last financial year alone have generated an estimated local spend of £2million.

Local spend is accrued via air, sea and freight costs, hotel and catering, provisioning and facilitating production, location and services hire costs, local crew and trainee costs, provision of extras (over 600 extras were were used for Me & Orson Welles).

The news release said it should also be remembered that filming takes place throughout the year, not just in the traditional seasonal months.

Each incoming production is required to employ a minimum of four trainees in significant trainee roles.

The news release added that this scheme has provided invaluable opportunities for the Island’s young people, many of whom are now following film and media based courses at university or are now firmly established working in the UK industry.

The last film to be made in the Island, Ashes, which was filmed in March/April this year, there was nine trainee placements.

Approximately 100 local jobs/temporary crew positions have been generated on this last year's four productions alone.

The news release states: "The film industry has generated a tremendous amount of strong and positive global media exposure for the Isle of Man over the past 16 years.

"The Island's profile has benefited greatly from having the cream of the world's acting talent here on our shores and most recently, along with the success of TT3D, our association with and participation in the major BBC2 series The Shadow Line has brought great kudos to the Island, further enhancing our sterling reputation throughout film industry both in the UK and further afield."

Mr Bell said: "It is very important that we do not let ourselves get deflected and that we continue to concentrate on the job in hand which is making successful movies, creating employment and training opportunities for our local people and generating as much positive media exposure for the Isle of Man that we possibly can.

"The reality is that the film industry has delivered time and time again.

"The Media Development Fund now has a higher balance than when established in 2002 (£33m as opposed to £25m) therefore the notion that film has lost money is pure fantasy.

"Diversification is crucial to a successful future for us all. The next five years will be very tough and the IoM is going to have to earn its way.

"The days of easy money are long gone. We will need to reinvent how we look at things and how we do things. The media sector is going to be one of the biggest growth areas in the world.

"The IoM has the expertise, the connectivity, environment, infrastructure and self generated investment funds to make a significant impact in this sector.

"In the meantime, as was always the case, the Media Development Fund is fully protected by stringent Treasury controls.

"But the time is coming when we need to decide if we want to use what we have to build a new economy. There were those who scoffed at the very idea of the Isle of Man attracting films in 1995. If we had listened to the merchants of doom then, this Island would be over £200m poorer.

"The idea was courageous and groundbreaking back then and has proved to be a huge success at every level since. We mustn’t let the nay-sayers derail us now.”

Click here for Steve Christian's views on the film industry