The U.K. film and high-end TV production industry experienced significant growth in 2024, as revealed by the latest report from the British Film Institute (BFI). According to the BFI, production spending in the U.K. reached a total of £5.6 billion ($6.9 billion) last year, representing a 31% increase from 2023 and surpassing the pre-COVID levels seen in 2019.
After facing challenges in the previous years, the U.K. production sector saw a resurgence in 2024. In 2022, the industry reached a record high with a total spend of £6.27 billion, with a substantial portion coming from high-end TV and film productions. However, 2023 witnessed a sharp decline in production spending to £4.23 billion, attributed in part to the impact of Hollywood strikes that disrupted production schedules.
In 2024, production spending rebounded significantly, although it fell short of the record-breaking levels seen in 2022. Film production spending increased by 24% to £2.1 billion, while high-end TV production saw a 17% rise to £3.4 billion. The number of films starting production in 2024 decreased slightly, reflecting a shift towards fewer but higher-budget productions.
Major international projects continued to drive the U.K.’s production economy in 2024, with notable inward investment productions like “Deadpool & Wolverine,” “Gladiator II,” and “Wake Up Dead Man: A Knives Out Mystery.” Despite the strong recovery seen in 2024, the industry remains sensitive to global events and reliant on external investments.
While Hollywood productions in the U.K. continue to thrive, attention is increasingly focused on supporting U.K. indie titles. Non-US studio and streamer films accounted for 34% of total U.K. film production spending in 2024, highlighting the importance of investing in local independent productions.
The U.K. cinema industry also saw positive developments in 2024, with a modest increase in admissions and revenues compared to the previous year. However, the absence of a blockbuster like “Barbenheimer” left exhibitors searching for a cultural phenomenon to drive massive turnouts. Nevertheless, U.K. independent films experienced a resurgence, capturing a larger market share and generating increased box office revenue.
BFI CEO Ben Roberts emphasized the importance of continued investment in skills and infrastructure, as well as government support, to ensure the U.K. remains a leading destination for filmmaking. The industry’s resilience and adaptability were evident in the face of challenges, and the focus now is on sustaining this momentum for the future.
