The latest official figures published today by the BFI’s Research and Statistics Unit show that film and high-end TV production spending in the UK was £5.6 billion in 2024, a 31% increase in 2023, as parts of the sector regained momentum, generating billions for the UK economy. The lion’s share of the total £5.6 billion production spend was contributed by HETV shows with £3.4 billion, or 62% of the total spend; with feature film production contributing £2.1 billion, or 38% of the total spend.
Inward investment and co-production of films and HETV shows delivered £4.8 billion, or 86% of the combined production spend. This demonstrates the UK’s global reputation as the world's leading center for international film and TV production. Of the total £3.4 billion spent on 181 HETV productions in 2024, inward investment shows contributed £2.8 billion (82% of total HETV spend), a 36% increase on 2023; domestic UK shows accounted for £598 million (17% of total HETV spend), a 22% decrease on 2023; and co-production spend was £19.6 million (less than 1% of total spend), a 50% decrease on 2023.
Of the total £2.1 billion spent on 191 film productions in 2024, inward investment films contributed £1.85 billion (87% of total film spend), a 78% increase on 2023; domestic UK films accounted for £185.8 million (9% of total film spend), a 24% increase on 2023; and co-production spend accounted for £79.8 million (4% of total film spend), a 51% decrease on 2023. The production statistics also reveal a varying level of investment made by streamer platforms in single long-form ‘film’ productions (ie not episodic or series). In 2024, 25 single feature-length productions contributed £511 million to the HETV spend of £3.4 billion. However, the methodology to collate the data requires complicated analysis; whilst 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.
“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 £5.6 billion in 2024 – up 31% on the previous year – demonstrating the UK’s strength as a world-leading destination for filmmaking. Wicked, made here in the UK, 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% 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.”
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 US 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 UK 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 enquiries for many years. And while we’re still waiting for the market to settle, to reach a ‘new normal’, 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. The UK 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.”
PRODUCTION STATS
The total number of films that went into production in the UK in 2024 was 191, 16 fewer than the number reported for 2023. The total production spend was £2.1 billion, a 56% increase on £1.36 billion in 2023 (subsequently updated to £1.7 billion). The majority of spending in 2023 was contributed by inward investment films, with £1.85 billion from 67 features, accounting for 87% of the total UK film spend. This continues to demonstrate the UK’s reputation globally as a world-class production hub. This is a 78% increase on 2023’s inward investment spend of £1.04 billion (subsequently revised to £1.35 billion), reflecting the increase in Hollywood films (re)starting following the strikes; production spending more than quadrupled between the first and second quarters of the year. As more budget information becomes available for some productions made last year, inward investment spending may reach the highest level over the past five years.
Of the total £2.1 billion spent on 191 film productions in 2024, inward investment films contributed £1.85 billion (87% of total film spend), a 78% increase on 2023; domestic UK films accounted for £185.8 million (9% of total film spend), a 24% increase on 2023; and co-production spend accounted for £79.8 million (4% of total film spend), a 51% decrease on 2023. Of the 191 films that started production, 95 are domestic UK features, contributing £185.8 million in spending, a 24% increase on the £150.2 million spent first reported in 2023 (subsequently updated to £183.1 million). A further 29 UK-international co-productions generated a UK spend of £79.8 million, a 51% decrease from 2023’s spend. However, that year’s result was driven primarily by a small number of unofficial co-productions.
In 2024, 65% of total UK film production spend was accounted for by productions from the five major US studios and the three major US streaming platforms (Netflix, Apple, and Amazon), representing a 49% increase in spending in 2024 versus 2023. UK production spend in 2024 by non-US studio and streamer films (including UK and non-studio inward investment independent productions) was £751.9 million. This represents 34% of total UK film production spend.
In general, HETV production in the UK has boomed since the introduction of the UK’s HETV tax relief in 2013. In 2024, UK spending was £3.44 billion, a 20% increase on 2023’s £2.87 billion (revised to £3.09 billion). Of the 181 HETV shows that started principal photography in 2024, spending on inward investment shows accounted for 82% of the total with a spend of £2.82 billion, a 36% increase on 2023’s £2.07 billion. The £598.2 million spent on domestic shows accounted for 17% of the total HETV spend, representing a 22% decrease on 2023’s £766 million. Co-productions accounted for less than 1% of the total spending, which was £19.6 million.
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