The latest report from the BFI’s Research and Statistics Unit reveals insights into the UK’s film and high-end TV (HETV) production landscape in 2023 despite global disruptions caused by Hollywood strikes. Despite a 32% decrease in combined spend compared to 2022, the UK’s production sector remained resilient, contributing £4.23 billion to the economy, nearly on par with pre-pandemic levels. HETV production constituted the majority of this spend at £2.87 billion, while feature films contributed £1.36 billion. Inward investment and co-production projects accounted for the bulk of the spending, showcasing the UK’s continued appeal as a global production hub. Notably, while cinema admissions increased by 5.5% compared to 2022, they remained 30% below pre-pandemic levels. The top-grossing film of 2023 was Barbie, demonstrating the UK’s prowess in attracting audiences to cinemas. Despite challenges, the UK’s film industry remains robust, supported by government initiatives and investments. However, concerns linger for lower-budget UK films, highlighting the need for continued support in securing finance and visibility.
In conclusion, despite challenges like global strikes and ongoing pandemic recovery, the UK film and TV industry remains robust, contributing billions to the economy. With diverse productions across regions and government support, it retains its global prominence. However, attention is needed to support lower-budget UK films. Overall, the statistics reflect both successes and areas for ongoing development in the dynamic UK entertainment sector.
What do you think could help smaller UK films thrive, and what impressed you the most about the resilience of the UK film and TV industry?
Full article: Official BFI 2023 statistics reveal £4.23 billion film and high-end television production spend in the UK