Film and HETV production statistics released by the BFI show inward investment spend in the UK in 2024 went up 43% on the strike hit 2023 figure.
Inward investment spend in the UK generated by film and HETV production during 2024 reached £4.7 billion. The figure for 2022 was £5.37 billion.
The figures shows that international feature film production spend in the UK delivered £1.9 billion, with high-end TV (HETV) inward investment spend delivering £2.8 billion
Total US inward investment spend in the UK on film represents an 83% increase from 2023’s figures, with HETV UK spend increasing by 25%.
Major investment feature films and HETV titles contributing to 2024’s growth in spend, included How to Train Your Dragon (Universal); The Running Man (Paramount); Bugonia (Square Peg USA/Element Pictures); Peaky Blinders: War (Netflix), Fantastic Four: First Steps (Disney/Marvel), Jurassic World 4 (Universal); Slow Horses seasons 5 and 6 (Apple TV+); Hamnet (Amblin); 28 Years Later (Sony/DNA); Project Hail Mary (Amazon MGM); Bridgerton season 4(Netflix); Outlander: Blood of my Blood (Sony/Starz); The Crow Girl(Paramount+); A Knight of the Seven Kingdoms: Hedge Night (HBO).
The British Film Commission (BFC) provided production support to productions and companies responsible for 91% of the total US inward investment HETV spend, and 94% of total US inward investment feature film spend in 2024. This included bespoke support to companies responsible for major film and HETV titles such as The Conjuring: Last Rites (Warner Bros./New Line), How to Train Your Dragon (Universal), House of the Dragon season 3 (HBO), Black Bag (Focus Features), The Running Man (Paramount),Bugonia (Square Peg UK/Element Pictures), Peaky Blinders: War (Netflix), Citadel season 2 (Amazon), Slow Horses season 5 (Apple TV+).
Adrian Wootton OBE, Chief Executive of the British Film Commission, said: “Today’s figures reflect the buoyancy and continued growth of our inward investment film and HETV production sector in the UK. After a challenging 2023 due to US strikes, and a slower than expected return to production, these figures reflect the increased inward investment film and HETV production activity we saw in the UK as 2024 gathered pace. So we see 2024 as a transitional year.
“Looking forward, we’re cautiously optimistic. The British Film Commission is experiencing the highest level of inward investment production enquiries for many years. And while we’re still waiting for the market to settle, to reach a ‘new normal’, we have strong support from UK Government, new and enhanced tax credits – including an increased VFX tax credit and the all-new credit for independent films – a world-class skills base and a UK-wide offer of diverse locations and stage space boasting cutting edge facilities.
“The UK remains well-placed to see a competitive share of the global production spend and all signs are that we’ll see strong growth in inward investment film and HETV in coming months.”
Ben Roberts, BFI Chief Executive, said: “The UK’s film and TV industries continue to be a powerhouse for creativity, investment and jobs. After a disrupted 2023, including the impact of US strikes, production spend rebounded to £5.6 billion in 2024 – up 31% on the previous year – demonstrating the UK’s strength as a world-leading destination for filmmaking. Wicked, made here in the UK, led the box office, following Barbie’s success in 2023, while independent films like Back to Black and One Life helped grow market share.
“At the same time, we know these figures don’t tell the whole story. The 22% drop in domestic HETV spend is a reminder that many in the industry are feeling the pressure, and what happens next will be critical. Continued investment in skills and infrastructure, alongside strong government support is essential to ensuring the UK remains a magnet for international productions while strengthening our independent sector for the future.”
Jon Creamer
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