Yahoo Lifestyle U.K. Film and High-End TV Spend Reached Almost $7 Billion in 2024, Up 31% From Strike-Ravaged 2023
Film and high-end TV production in the U.K. made considerable gains last year, according to new figures from the British Film Institute.
In its annual report, the BFI said that film and high-end TV production spend in the U.K. reached £5.6 billion ($6.9 billion) in 2024, up 31% on 2023, and ahead of 2019’s pre-COVID spend.
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This resurgence follows a turbulent few years. In 2022, the U.K. production sector reached an all-time high with £6.27 billion in total spend, with £4.3 billion of that coming from high-end TV and £1.97 billion from film. Inward investment dominated, contributing £5.37 billion, or 86% of the total. However, 2023 saw a sharp 32% decline in production spending to £4.23 billion, due in part to the impact of Hollywood’s writers’ and actors’ strikes, which disrupted production schedules and delayed key projects.
In 2024, production spending rebounded significantly, though it still fell short of 2022’s record-breaking high. Film production spending jumped 24% to £2.1 billion from 2023’s £1.7 billion, while high-end TV increased 17% to £3.4 billion from £2.9 billion. The number of films starting production in 2024, however, dipped to 191 from 207 in 2023, reflecting a shift toward fewer but higher-budget productions.
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