2020 is undoubtedly a challenge globally for the film industry as it continues to assess the impacts of
the ongoing coronavirus pandemic. However, taking a deeper look at one of the bigger players, the
UK looks well placed to weather the ongoing storm, built on the backdrop of a successful period of
growth.

This can be better explained by taking a deeper look into PwC’s Global Entertainment & Media
Outlook 2019-2023. The report states that in 2018 the UK had the fourth largest filmed
entertainment market in the world after USA, China and Japan, with the UK accounting for 5% of the
market. Forecasts in the report, predict the UK will remain in the top four markets into 2023, with
the unsurprising challenger of India moving up the leader board to fifth. More notable however is
the growth of the Chinese filmed entertainment revenue, with predicted growth of 91% across the
same period.

Focussing back on the UK film market, it is clear the industry plays a significant role in the economy,
generating in excess of £6 billion GDP whilst exporting over £2.6 Billion worth of services. But the
impressive numbers do not stop there. 2019 saw the global theatrical market hit a new record worth
of $42 billion, with UK films earning a 26.4% share of the market.

Film production continues its impressive growth curve according to independent figures published
by the BFI. The report states that in 2019 the UK alone generated a total spend of £1.95 billion,
which equated to a 17% increase on the previous year. However, growth is being driven not only by
domestic production but also from international interest. 2019 saw the second highest spend by
international filmmakers ever recorded in the UK totalling £1.77 Billion. Global confidence in the UK
film production market is underpinned by the UK’s world class production facilities, the expertise
and experience of the production teams and crew, creative approach and the financial incentives
offered in the form of the UK film tax relief.

2019/20 also saw the UK films and talent gain recognition for its global contribution to the film
industry, winning numerous accolades and awards on the international stage, providing further
evidence of UK film industry sticking to its own script and successful narrative. And although there is
uncertainty in these unprecedented times, what we can be certain of, the UK looks set be one of the
players as the global industry kickstarts and takes it first steps to recovery.