Spending on high-end TV in the UK reached £1.49 billion in 2020, only 11 per cent down on 2019, according to new figures from the British Film Institute.
Film spending reached £1.36 billion, 31 per cent down on 2019. In total, spending on high-end TV series and films dropped by 21 per cent in 2020, driven by the impact of the pandemic.
The BFI reports the industry started to see recovery in final quarter of 2020 with £1.19 billion spent, the second highest three-month spend on record.
Inward investment and co-production on high-end TV accounted for £1.13 billion or 76 per cent of the total HETV spend, making it the second highest on record.
Domestic high-end TV productions accounted for £357 million, only 4 per cent less than the £372 million for 2019 (updated mid-year to £482 million).
Ben Roberts, BFI chief executive, said: “After an unbelievably tough year, today’s figures show an incredibly vibrant and positive picture for film and TV in the UK. Last spring it was hard to imagine that we would be generating £1 billion worth of production activity in the final quarter which has been achieved by industry and government pulling together and the determination of our workforce to get back up and running.
“This sector is primed to grow with expansion underway in studios and production hot spots across the UK, delivering more jobs and more to the economy.”