U.K. Film, TV Production Spend Rebounds in 2024 Thanks to ‘Peaky Blinders' and ‘Knives Out'
According to the British Film Institute, the total spend on film and high-end TV production last year reached £5.6 billion ($6.9 billion), a 31% increase on 2023 when £4.23 billion ($5.37 billion) on 394 productions was spent, and £6.27 billion ($7.72 billion) in the year 2022.
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U.K. production spend is counted in the statistics for the year in which principal photography started.
During 2024, 191 feature films started shooting in the U.K., compared with 207 in 2023, according to the BFI. Among them were Netflix's Peaky Blinders movie and The Fantastic Four.
65% of total U.K. production spend on film was accounted for by productions from the five major U.S. studios and the three major U.S. steaming platforms (Netflix, Apple and Amazon), also representing a 49% increase in spend in 2024 versus 2023. These films include The Running Man, Wake Up Dead Man: A Knives Out Mystery, How to Train Your Dragon, Project Hail Mary, and Jurassic World Rebirth.
In comparison, the U.K. recorded 181 high-end TV productions that began principal photography in 2024, compared with 187. In 2024, UK spend was £3.44 billion, a 20% increase on 2023's £2.87 billion (revised to £3.09 billion). The data spotlighted productions on The Immortal Man: A Peaky Blinders Film, The Donovans, Young Sherlock, Man vs Baby and Art Detectives. Domestic HETV productions included Gavin & Stacey: The Finale, Inheritance, Transaction and Man Like Mobeen.
Said BFI CEO Ben Roberts: '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 U.K.'s strength as a world-leading destination for filmmaking. Wicked, made here in the U.K., led the box office, following Barbie's success in 2023, while independent films like Back to Black and One Life helped grow market share.'
He continued: '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.'
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