UK broadcasters’ spend on high-end TV shows fell to their lowest level in a decade last year despite the overall market returning to growth.
According to the BFI’s Research and Statistics Unit, film and high-end TV production spend in the UK hit £5.6 billion in 2024, up 31% on 2023.
TV spend represents 62% of that total – and at £3.44 billion, was 20% up year-on-year.
However, domestic UK shows accounted for £598m, or 17% of that figure - a 22% decrease on 2023 as inward investment from US firms such as Disney and Netflix shot up by 36% to £2.8 billion.
Outside of 2020, when Covid forced most production, this is the lowest figure for domestic production since 2015’s £439m.
Meanwhile, the BFI reports 181 high-end TV productions were made in the UK last year – down from 223 the previous year.
These 181 shows range from dramas such as Strike and Vera to comedies Gavin and Stacey and Man Like Mobeen.
Inward HETV investments included The Immortal Man: A Peaky Blinders Film [main picture], The Donovans, Young Sherlock, Man vs Baby and Art Detectives.
BFI chief executive Ben Roberts said the decline 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.”
In film, five major US studios and three US platforms accounted for 65% of spend, representing a 49% increase on 2023.
Of the 191 films in production, half (95) were domestic UK productions – but these accounted for only 9% of total film spend.
Nevertheless, domestic spend on film rose by 24% to £185.8m.
Domestic UK films noted by the BFI include actor Brian Cox’s directorial debut Glenrothan.
British Film Commission chief executive Adrian Wootton described 2024 as a “transitional year” for film and high-end TV but said he is “cautiously optimistic” about the future.
“The Commission is experiencing the highest level of inward investment production enquiries for many years,” he said.
“And while we’re still waiting for the market to settle, to reach a ‘new normal’, we have strong support from the 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.”
