The BBFC is an independent non-profit organization that regulates and assigns age ratings to films in the UK based on their content. It is important for filmmakers to be aware of the BBFC's ratings as they can impact a film's audience and commercial success. The document discusses how a higher age rating assigned by the BBFC, beyond a filmmaker's target audience, could negatively affect viewer numbers and sales. The filmmaker aims to create a horror opening rated 15 or over so it can contain adult themes, but will need to consider BBFC guidelines to achieve this rating.