Spend on £1m+ TV spend grew 20% in 2024, but domestic investment falls
Film and high-end television (HETV) production spend in the UK hit £5.6bn in 2024, a 31% increase on the Hollywood strike-addled 2023 but well short of the 2022 record total of £6.3bn.
Within the £5.6bn, HETV accounted for the lion’s share at almost £3.4bn. This was an increase of 20% on 2023 and the third highest annual spend since tax relief was introduced in 2013.
Inward investment HETV productions made up £2.8bn (82%) of the HETV total, thanks to series such as Paramount+’s The Donovans and Amazon Prime Video drama Young Sherlock.
By comparison, local UK HETV production spend fell to £598m, or 17% of total HETV production. This represents a 22% decrease on 2023.
Domestic HETV productions included Gavin & Stacey: The Finale (BBC1), The Inheritance (pictured, Channel 5) and Man Like Mobeen (BBC3).
“The UK’s film and TV industries continue to be a powerhouse for creativity, investment and jobs,” said Ben Roberts, BFI chief executive.
“After a disrupted 2023, including the impact of US strikes, production spend rebounded to £5.6bn in 2024 – up 31% on the previous year – demonstrating the UK’s strength as a world-leading destination for filmmaking.”
He continued: “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.”
To qualify as HETV, a show must have a minimum core expenditure of £1m per broadcast hour.
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