Icelandic film industry generates billions in turnover

The combined revenue of cinema, TV and video production in Iceland was 10,5 billion Icelandic kronas in the first eight months of this year. This is a record for the industry which clearly shows that the sector is in rapid growth.

The Icelandic Bureau of Statistics published these figures. Film production company Pegasus generated the biggest turnover with the TV series Fortitude playing a large part. 

"This year has been a very busy one for us," explains Snorri Þórisson, owner of Pegasus. We've produced 12 episodes of Fortitude, a series aired on Sky Entertainment in the New Year, as well as the movie Sepia which was produced by a company owned by Ridley Scott." He adds that it is probable that the next series of Fortitude will also be filmed in Iceland. 

"It's the backdrop and the landscape that is sought after. The Icelandic krona is low and Icelandic authorites provide  a generous refund policy for foreign filmmakers  that is attractive."