Film and high-end TV production in the U.K. made considerable gains last year, according to new figures from the British Film Institute.
In its annual report, the BFI said that film and high-end TV production spend in the U.K. reached £5.6 billion ($6.9 billion) in 2024, up 31% on 2023, and ahead of 2019’s pre-COVID spend.
This resurgence follows a turbulent few years. In 2022, the U.K. production sector reached an all-time high with £6.27 billion in total spend, with £4.3 billion of that coming from high-end TV and £1.97 billion from film. Inward investment dominated, contributing £5.37 billion, or 86% of the total. However, 2023 saw a sharp 32% decline in production spending to £4.23 billion, due in part to the impact of Hollywood’s writers’ and actors’ strikes, which disrupted production schedules and delayed key projects.
In 2024, production spending rebounded significantly, though it still fell short of 2022’s record-breaking high. Film production spending jumped 24% to £2.1 billion from 2023’s £1.7 billion, while high-end TV increased 17% to £3.4 billion from £2.9 billion. The number of films starting production in 2024, however, dipped to 191 from 207 in 2023, reflecting a shift toward fewer but higher-budget productions.
Major international projects continued to drive the U.K.’s production economy, with “Deadpool & Wolverine,” “Gladiator II,” and “Wake Up Dead Man: A Knives Out Mystery” among the biggest inward investment productions. While 2024’s numbers indicate strong recovery, the volatility of the past three years underscores the industry’s sensitivity to global events and its dependence on external investment.
Given a local British industry that many have said is in crisis, while spend on Hollywood productions in the U.K. continues to soar, there’ll be a keen focus on investment on U.K. indie titles. According to the BFI, production spend in 2024 by non-U.S. studio and streamer films — including U.K. and non-studio inward investment independent productions — was £751.9 million, representing 34% of total U.K. film production spend.
Looking at the box office, U.K. cinema admissions climbed to 126.5 million in 2024, marking a modest 2% increase over 2023’s 123.6 million, but still a hefty 28% below the pre-pandemic highs of 2019. Revenues within the U.K. came in at £979 million, a hair below 2023’s £980 million. When factoring in the Republic of Ireland, the total swelled to £1.01 billion, a 2% rise over last year’s £994 million haul. The numbers confirm what industry analysts have been saying all year: the absence of a cultural phenomenon on the scale of “Barbenheimer” left exhibitors grappling for a comparable event to fuel massive turnouts. “Wicked” topped the 2024 charts with £59.6 million, a respectable showing but a far cry from “Barbie’s” £95.6 million domination in 2023.
However, U.K. independent films experienced a dramatic resurgence in 2024, capturing a 6.9% market share, up from 3.8% in 2023. Their total box office revenue reached £69 million, marking an 84% increase from the previous year, a notable contrast to 2022’s £79 million, which was supported by a broader range of indie hits. The growth in 2024 signals a promising rebound for U.K. independent productions, bolstered by audience enthusiasm for homegrown stories such as “Back to Black” and “One Life.” However, the numbers still fall short of pre-pandemic levels, and sustaining this upward trend will depend on continued government support – like new the U.K. independent film tax credit – and exhibition opportunities for smaller-budget films.
One concerning trend in 2024 was the decline in co-productions. Only 29 co-productions were initiated, compared to 41 in 2023 and a peak of 48 in 2022. This represents a significant 29% drop in two years, reflecting shifting financial strategies among studios and producers. The total U.K. spend on co-productions plummeted to £80 million, down sharply from £163 million in 2023, as fewer projects qualified under official co-production agreements.
“The U.K’s film and TV industries continue to be a powerhouse for creativity, investment and jobs. 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,” said BFI CEO Ben Roberts.
“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 U.K. remains a magnet for international productions while strengthening our independent sector for the future.”
