UK Film & High-End TV Production Could Be Worth $9.4B By 2025 But Estimated 21,000 More Crew Needed To Meet Demand — ScreenSkills Study

UK film and high-end TV could cost around £7.7B ($9.4B) by 2025, according to a study by the British industry body, but training enough crews to achieve this could cost around £300M ($368). M) will cost. screen skills,

The value of the production area is expected to jump anywhere between £7.07B and £7.66B from the current £5.64B, which would require approximately 15,130 and 20,770 additional crew to meet demand.

While this represents an annual investment of between £95.1M and £104.3M between 2023 and 2025, ScreenSkills research suggests that the projected economic benefit will be 15 times the cost of training – based on data from existing ScreenSkills training programmes. But with cost.

The UK is currently seeing a boom in productions as broadcasters and streamers line up increasingly ambitious shows and take advantage of the industry’s tax break systems. However, a clear skills gap has emerged and many are concerned that major projects such as Amazon’s upcoming production Lord of the Rings The TV series will push the situation from problematic to crisis.

The study ‘The Forecast of Labor Market Shortages and Training Investment Needs in Film and High-End TV Production’, conducted by Nordity, a consultancy with accountancy firm Saffrey Champness LLP, also claims that the high end of this investment scale is “a long Will run” way to create 23,270 full-time jobs in the UK economy.

The latest UK figures show that film and high-end television currently create the equivalent of 122,000 full-time jobs, the research said.

growth forecast

The authors of the report – who conducted interviews with leading film and high-end TV companies and analyzed existing and unpublished research – concluded that HETV is a tax relief mechanism and post-COVID​ by Bounceback. Fuel can still rise. Overall, the sector is expected to grow at an average annual rate of 7.3% – an additional £1.43B-£2.02B expenditure by 2021’a £5.64B total.

The authors conclude that film and HETV production in the UK is expected to grow at an annual average rate of 7.3% between 2022 and 2025. They estimate spending will reach between £7.07 billion and £7.66 billion by 2025 – an additional £1.43 billion to be spent on £2.02 billion from the 2021 figure of £5.64 billion.

Should the UK experience a high-growth scenario, annual training spending of £104.3M would represent around 1.4% of the estimated £7.66B productions by 2025 – higher than in sectors such as manufacturing and construction but more than in commercial services and hotels Less in and restaurant area.

The report noted that many public service broadcasters, SVODs and independent production companies already run their own training programs with proven track records, but it has not been possible to quantify that investment.

Elsewhere in the study, it was suggested that an additional 2.7 million square feet of stage space would be available by 2025. The lack of physical production space has been one of producers’ longstanding concerns about the size of the industry, and many studios and production space constructions are underway across the country.

ScreenSkills CEO Sita Kumar said: “The data in this report will help all of us plan wisely to ensure the UK has the skilled and inclusive workforce that is needed to capitalize on the potential for further growth.”

He added that the UK film and television industry “is one of the UK’s great success stories and we need to work together to keep it that way. Increasing the workforce will help ensure that production expenditures are projected.” The country as a whole will benefit from the increase.”

Anita Overland, producer and president of ScreenSkills Film Skills Council, said: “It’s important that films of every scale and budget have the right people for those productions, so it’s helpful to understand what’s likely to happen over the next few years. I’m very proud of what the Film Skills Council does to support training, but it’s also a reminder of how much more work needs to be done both financially and in terms of creating opportunities for people to learn on the job. Is required. “

this is part of the study BFI Future Film Skills Program by ScreenSkills with National Lottery Fund provided by BFI.