The UK’s TV and film studio industry is set for a huge boost in funding according to a new report from the British Film Institute.
The report, titled Screen Business, states that over £131 million was spent on new production facilities across the UK during 2017-2019, with a further investment of £785.4 million planned.
It states that whilst investment in film and TV studios has been mainly centred on what it describes as Metro London (Greater London with Hertfordshire, Buckinghamshire and Surrey), recent years have seen planning, development and investment in all UK nations and in several of England’s regions.
The report details an estimated £131.6 million spent on building or expanding UK studios between 2017 and 2019, and a further £785.4 million for developments which had received planning permission by the end of 2020.
Since the 2018 edition of Screen Business, new studios have opened UK-wide including Wolf Studios in Wales, First Stage in Scotland, Belfast Harbour Studios in Northern Ireland and The Depot in England. Planned investments for further studio expansion including Eastbrook Studios (East London), Pinewood and Shepperton and Sky Studios, Elstree.
While the report only goes up to the end of 2020, TVBEurope has reported on a number of new studios announced during 2021.
Looking at this year, latest figures show UK screen sector recovery as a whole has accelerated with £4.7 billion of spend on film and high-end television production from January to September.
Andrew M Smith, corporate affairs director, Pinewood Group said: “Today’s report puts the data behind the UK’s success in delivering world-class films, television and video games thanks to our highly skilled workforce, state of the art facilities and fiscal incentives. Pinewood’s increased investment in new and expanded production facilities and training programmes underlines our confidence in the UK as a leading player in this global industry and the opportunities we have for further growth and success.”