Inward investment in Film and High-End TV hits £5.37bn in 2022
Inward investment into Film and High-End TV production in the UK hit £5.37 billion in 2022, rising 6 per cent from 2021, and accounting for 86 per cent of total Film and High-End TV spend for the year.
The combined total breaks down to £1.74 billion on international feature film production spend, and £3.63 billion on High-End TV.
This is according to statistics released by the British Film Institute, demonstrating the strength of the UK’s screen sectors. The investment was helped by bespoke production support from the British Film Commission, which contributed to 93 per cent of inward investment HETV spend and 94 per cent of feature film spend.
Productions to benefit included Lord of the Rings: The Rings of Power Season 2 (Amazon), Lift (Netflix), Black Cake (Hulu), Napoleon (Apple TV+), The Crown Season 6 (Netflix), The Boys in the Boat (MGM), Fast X (Universal), Wicked (Universal), The Great Season 3 (MRC), Bridgerton Season 3 (Netflix) and Disclaimer (Apple TV+).
Adrian Wootton OBE, Chief Executive of the British Film Commission, said: ‘’As today’s figures demonstrate, the UK inward investment film and TV industry continues to experience remarkable growth in production, generating billions of pounds for the UK economy and thousands of new jobs in production hubs throughout the UK’s nations and regions.
“It’s a real testament to the strength of our regional as well as metropolitan offer that so many major film and High-end TV productions choose to base themselves through the length and breadth of the UK. With the right levels of ongoing investment in skills, support and infrastructure, the UK is well-positioned to attract major international film and TV productions for many years to come.’’
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Film and TV production has been experiencing significant growth in the South East in recent years, with the Thames Valley in particular seeing such a boom some have taken to labelling it the Cine Valley.
Shinfield Studios is set to be completed in 2024, with the first stages in use later this year, pointing to further growth in the coming years.
Ben Roberts, BFI Chief Executive, said: “Today’s record-breaking figures for film and TV production in the UK are great news for our industry and the UK economy and underlines the success of our industry at a global level.
“Our world-class talent, craft and production services, and vital film and TV tax reliefs, have enabled the UK to be a major player in a highly competitive global industry. Further investment in expanding studio space UK-wide to meet production demand will continue to build on this economic success and create further jobs.
“To see audiences coming back to cinemas after the pandemic for Top Gun: Maverick, Roald Dahl’s Matilda The Musical and independent films such as Belfast shows that film and the big screen experience is very important to people.
“But while independent UK films such as Aftersun and The Banshees Of Inisherin are enjoying awards and audience success worldwide and are clearly essential to the creativity of our industry and for UK culture, the continuing downturn in production spend on UK indie film means we need to stand behind the recommendations of the Economic Review of UK Independent Film to ensure it survives and thrives.”
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