"A spending spree by Hollywood studios and streamers pushed investment in film production in the UK to a record 2.8bn last year, but growth is expected to slow this year as Netflix switches investment to the US to secure an $80bn (59bn) takeover. The British Film Institute, which has been publishing annual data on spend on the production of films since 2002, said 91% of the record film spend was down to inward investment from studios and companies based outside the UK."
"More than 2.5bn of the total of 2.78bn spent in the UK last year was by US-based Hollywood studios and streamers such as Netflix and Amazon, a 30% year-on-year increase. The amount spent on high-end British made TV shows, where the budget an episode is at least 1m, rose bymore than 7% year on year to 4bn. Again, this was dominated by spend by US streamers such as Netflix, Amazon's Prime Video and Disney+, which accounted for 80% of the total."
Investment in UK film production reached a record 2.8bn last year, with 91% coming from inward investment by studios and companies based outside the UK. A 23% year-on-year surge in film-making spend was driven by blockbusters produced in the UK, including Avengers: Doomsday, Super Girl and four Beatles biopics. More than 2.5bn of the 2.78bn total was spent by US-based studios and streamers, a 30% increase. High-end British TV spending rose over 7% to 4bn, with US streamers accounting for 80% of that total. UK broadcasters’ spend edged up to 688m. Netflix’s decision to pull projects back to the US amid a proposed takeover, and political pushes to increase US production, threaten future UK spending commitments.
Read at www.theguardian.com
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