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U.K. Film, High End TV Production Spend Forecast to Hit $9.3 Billion by 2025, Further Squeezing Skills Shortage

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K.J. Yossman Film and high-end TV production spend in the U.K. is predicted to hit up to £7.66 ($9.4 billion) by 2025, according to new research commissioned by government-backed industry body ScreenSkills.That is an annual average growth rate of 7.3% over the next three years.While that’s good news for the industry, it will also impact the already critical skills shortfall.

The research suggested over 20,000 new full-time crew will need to be trained up to meet demand.Training of both existing workforce and new recruits will require an investment of £95.1 million to £104.3 million per year.

Over a three-year period, however, it would provide an ROI of £4.56 billion in terms of economic return. Already, the screen industry generates the equivalent of 122,000 full-time jobs.

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