film Provident Compilation

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

Reading now: 316
variety.com

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.

Read more on variety.com
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related Celebs News

DMCA