film news

UK Film and TV production up 11.8% in 2 years

UK-film-industry-growth
The UK film industry and creative sector as a whole has smashed records beating its peak in 2012 during the Olympics.

Figures released by the Government show solid growth in all areas of the creative economy, particularly in design, IT and film production.

The creative sector as a whole now accounts for more than 5% of UK jobs which is the highest total since official records for the industry began.

With lucrative tax breaks luring productions to UK shores, the creative community has continued to flourish. In addition, due to falling tax rates for UK limited companies, many new businesses and multinationals now have operations in the UK.

According to the DCMS there were 1.71 million jobs in the creative sector as of 2013 which was a 1.4% increase from the peak in 2012 where significant investment had been made in the London Olympics.

As of 2012, the value of UK creative industry exports was £17.3bn which accounted for 8.8% of all UK service exports.

From ‘Star Wars: The Force Awakens’ to ‘Mission Impossible 5’, the UK has become a major destiny for Hollywood productions and high budget movies.

This month, Pinewood Studios announced the start of a 15-year expansion programme that will create thousands of jobs and will cost more than £200 million. The studio is currently near capacity and with a surge in demand for high budget production, it needs additional space for new productions in the future.

Is it safe to say that the UK is the new Hollywood? For film productions in Europe, it certainly has become a go-to destination.

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