Further information: Topical Budget (1911-1931) was one of three major British newsreels of the silent era, its main rivals being Gaumont Graphic and Pathé Gazette. Produced by William Jeapes' Topical Film Company, its first issue was released in September 1911. Of several newsreels on the market in this early period, by the middle of the First World War only three survived: Topical, Pathé and Gaumont.