U.K. Film & High-End TV Production Spend Hits £5.6 Billion

According to the latest figures from the BFI’s Research and Statistics Unit, film and high-end TV production spend in the U.K. was £5.6 billion ($7 billion) in 2024, a 31 percent increase on the year prior, as parts of the sector regained momentum.

The majority of the total production spend was contributed by high-end TV (HETV) shows, at £3.4 billion ($4 billion), 62 percent of the total spend. Feature film production contributed £2.1 billion ($2.6 billion), 38 percent of the total spend.

Inward investment and co-production films and HETV shows combined delivered £4.8 billion ($6 billion), 86 percent of the combined production spend.

Of the total spend on 181 HETV productions in 2024, inward investment shows contributed £2.8 billion ($3.5 billion), 82 percent of total HETV spend, which is a 36 percent increase from 2023. Domestic U.K. shows accounted for £598 million ($742 million), 17 percent of total HETV spend, which is down 22 percent from a year ago. Co-production spend was £19.6 million ($24 million), less than 1 percent of total spend, marking a 50 percent decrease on 2023.

The BFI production statistics also reveal a varying level of investment made by streamer platforms in single long-form “film” productions (i.e. not episodic or series). In 2024, there were 25 single feature-length productions which contributed £511 million ($634 million) to the HETV spend. The methodology used to collate the data requires complicated analysis, BFI said; while most productions for streamers are captured as HETV production because they use the HETV cultural test to access tax relief, some are captured within film data because they use the film cultural test.

Ben Roberts, BFI chief executive, said: “The U.K.’s film and TV industries continue to be a powerhouse for creativity, investment and jobs. After a disrupted 2023, including the impact of U.S. strikes, production spend rebounded to £5.6 billion in 2024—up 31 percent on the previous year—demonstrating the U.K.’s strength as a world-leading destination for filmmaking. Wicked, made here in the U.K., 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 percent 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 U.K. remains a magnet for international productions while strengthening our independent sector for the future.”

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 U.S. 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 U.K. 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 inquiries for many years. And while we’re still waiting for the market to settle to reach a ‘new normal,’ we have strong support from the U.K. 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 U.K.-wide offer of diverse locations and stage space boasting cutting edge facilities.

“The U.K. remains well-placed to see a competitive share of the global production spend, and all signs are that we’ll see strong growth in film and HETV in coming months.”