Inward Investment in U.K. Film and TV Soars to $7.7 Billion

Inward investment into film and high-end television (HETV) in the U.K. during 2022 reached a record height of £6.27 billion ($7.72 billion), statistics from the BFI reveal.

This is the highest ever reported figure and is £1.83 billion higher than for the pre-pandemic year 2019.

Some 69% of the £6.27 billion spend was contributed by HETV production with £4.30 billion, with feature film production contributing £1.97 billion.

However, spend on independent U.K. filmmaking showed a downturn with £174 million, a 31% decrease on 2021. On the other hand, coproductions with independent producers saw a 3% increase in spend with £59 million.

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Of the total £4.29 billion HETV production spend: inward investment shows contributed £3.62 billion (84% of total HETV spend and a 3% decrease on 2022); domestic U.K. shows accounted for £632.7 million (15% of total HETV spend and a 4% decrease on 2021) ; and coproduction spend was £36.5 million (less than 1% of total spend but a near three-fold increase on 2022).

Of the total £1.97 billion spend on film production: inward investment films contributed £1.74 billion (88% of total film spend and a 31% increase on 2021); domestic U.K. films accounted for £173.6 million (8% of total film spend and a 31% decrease on 2021); and coproductions accounted for £59.1 million (3% of total film spend and a 3.5% increase on 2022). 

The figures, from the BFI’s Research and Statistics Unit, also show the increasing investment made by streamers in single long-form productions (i.e. not episodic or series). In 2022, there were 22 single domestic U.K. and inward investment productions which contributed £938.8 million to the HETV spend of £4.30 billion. The spend represents a 23% increase on 2021’s £765 million spend on single productions. These productions include Steve McQueen’s “Blitz,” Ridley Scott’s “Napoleon” and  Emerald Fennell’s “Saltburn.”