The UK’s film and high-end TV could be worth nearly £7.7B ($9.4B) by 2025 but training enough crew to achieve that would cost around £300M ($368M), according to a study by British industry bo…
The UK’s film and high-end TV could be worth nearly £7.7B by 2025 but training enough crew to achieve that would cost around £300M , according to a study by British industry bodyThe value of the production sector is expected to leap from the current £5.64B to anywhere between £7.07B and £7.66B, with around 15,130 and 20,770 additional crew needed to meet demand.
‘The Forecast of Labour Market Shortages and Training Investment Needs in Film and High-end TV Production’ study, carried out by consultancy Nordicity with the accountancy firm Saffery Champness LLP, also claims the higher-end of this investment scale would “go a long way” to creating a further 23,270 full-time jobs across the UK economy.
Should the UK experience a high-growth scenario, annual training spend of £104.3M would represent around 1.4% of the projected £7.66B productions spend by 2025 — higher than in sectors such as manufacturing and construction but lower than the business services and hotels and restaurants sectors.
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