Inward investment propels UK film and TV growth
Posted on Feb 12, 2025 by Admin
New statistics suggest inward investment contributed to a surge in UK film and high-end TV (HETV) production in 2024
The recent release of statistics from the British Film Commission (BFC) demonstrates that the film and TV industry is rebounding after the effects of 2023 US industrial action. The UK inward investment in 2024 stood at £4.7 billion, setting the stage for 2025.
It remains to be seen whether this increase is a lasting trend or a temporary change. In addition to a rise in UK inward investment, shifting market conditions and broader changes to global content commissioning may also provide context for this increase in spend.
While the figures released by BFC suggest a strong recovery, Ben Roberts, BFI’s chief executive, remains cautious about 2025. “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.”
Despite these concerns about the future, internationally recognised productions helped to contribute to 2024’s growth in spend, with hopes that this momentum will continue. The remake of family favourite How to Train Your Dragon is an example of a feature film that has helped to deliver a £1.9 billion spend. The inward investment in HETV production amounted to an even higher sum at £2.8 billion, supported by productions like Bridgerton season four.
Attracting and supporting inward investment from major international feature films, HETV and streaming clients has depended crucially on the efforts of the BFC. This UK agency supported 91% of US HETV and 94% of US feature film spend, facilitating key productions across the UK’s different regions.
Globally recognised crews and infrastructure, versatile locations and production support have also helped the UK’s seven production hubs to continue to attract worldwide attention from major international film and HETV productions.
Adrian Wootton OBE, chief executive of the BFC, comments on why the UK’s VFX and post-production sector appeal to companies outside the UK. “We have strong support from UK 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 UK-wide offer of diverse locations and stage space boasting cutting edge facilities.”
Looking ahead, major productions such as the highly anticipated Avengers: Doomsday and Harry Potter series are set to begin filming in the UK in 2025. These projects will be a key test of whether the current momentum in inward investment can be sustained in the coming months.
Find out more about the BFC’s work at britishfilmcommission.org.uk
