U.K. Film, TV Production Spend in 2022 Hits Record High (Again)
The U.K.’s production boom has soared to record levels once again.
According to the British Film Institute, spend on film and high-end TV production in 2022 reached in excess of £6.27 billion ($7.72 billion), north of the already record-breaking £5.64 billion in 2021.
While in previous years it’s been high-end TV leading the charge, this time it was film making the biggest jump, leaping more than 27 percent on 2021 to £1.97 billion ($2.45 billion) with help from major studio productions including Barbie, Mickey7, Civil War, Kraven the Hunter and Meg 2: The Trench.
On the TV front, production topped £4.29 billion ($5.28 billion), marginally down in 2021 but still more than £2 billion up from pre-pandemic levels, and includes almost £940 million ($1.6 billion) with films made for streaming platforms.
“Today’s record-breaking figures for film and TV production in the U.K. are great news for our industry and the U.K. economy, and underlines the success of our industry at a global level,” said BFI CEO Ben Roberts. “Our world-class talent, craft and production services, and vital film and TV tax reliefs, have enabled the U.K. to be a major player in a highly competitive global industry. Further investment in expanding studio space U.K.-wide to meet production demand will continue to build on this economic success and create further jobs.”
More to come.