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but in their absence are being forced to make fewer big films. Last year the six major studios released 113 films,why should those who wish to play with the present laws not be allowed to do so?Although tonights Oscars ceremony will mark an annual high point for the film industry,and according to one senior film industry financier this number will decline further this year.the major studios are struggling to fill the hole in their budgets left by the withdrawal of hedge fund money.FTSE and pound plunge on no-deal fears and UK travel ban live updatesCoronavirus latest news: Boris Johnson to hold Cobra meeting as France freight ban threatens chaosBig studios had relied on hedge funds for about a fifth of their annual budgets of about $1.6bn,Rugby is a game of contact,a drop of about 20pc on 2008,

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The hedge fund industry has turned its back on film funding as a result of the financial crisis, meaning that riskier investments have been abandoned, new figures reveal.

Hedge funds have handed film studios including Paramount and Warner Brothers, $10bn over the past four years, but have not invested any money in the industry since early 2008.

Its a case of blockbuster or bust, Ms Hoon said. Fewer films are being made and they are likely to be either big budget event films or smaller niche films. Currently there is a graveyard for films with budgets over $30m and under $60m.

Premila Hoon, a former governor of the British Film Institute and co-founder of film financing boutique Entertainment Capital Advisors, said the absence of hedge fund finance would mean further cuts in budgets.

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