The report, by Saffery Champness LLP and Nordicity, which was commissioned by Hounslow Borough Council on behalf of Creative Enterprise Zone West and Screen Capital West, with support from the Mayor of London’s office, set out to analyse the local economic benefits of Film and TV Studios in West London. The objective was to re-balance the discussion of the economic benefits of film and TV production to its impact on the long supply chain across the sub-region.
Given the setbacks experienced by the industry in 2023, this report shows the growth potential from the inevitable pent-up demand for production services that are expected in 2024 and beyond.
The UK’s film and TV production industry is very much export-driven. The value of its exports in 2019 were equivalent to 40% of its GVA – higher than any other service industry. In 2022 alone, the UK’s film and TV production industry received over £5.4 billion in inward investment production.
Given its long history of hosting film and TV production, West London (Barnet, Brent, Ealing, Hammersmith and Fulham, Harrow, Hillingdon and Hounslow) is already well placed to benefit from these expenditures on film and TV talent, extras and crew. It is home to thousands of film and TV workers – and is among the largest concentrations of these workers in the UK.
A film and TV project’s supply chain expenditures are distributed across a wide range of industries – building materials, security services, studio hire, to equipment hire to catering. The purchase of art department materials are the largest single type of spend, followed by location fees, services and security, and production equipment hire.
West London is well-positioned to benefit from these supply chain expenditures.
The research shows:
- 100,000 sq. ft. stage space can deliver between £60 million and £80 million in annual film and TV production expenditure, with supply and service purchases typically accounting for approximately 25% of a film and TV project’s total production budget.
- For 100,000 sq. ft. of stage space generating between £60 million and £80 million in production expenditures annually, between £15 million and £20 million would typically be devoted to supply chain purchases, with another £6 million to £8 million devoted to VFX and post-production work.
- A film and TV project’s supply chain expenditures are distributed across a wide range of industries, from building materials, to security services, to studio hire, to equipment hire to catering. The purchase of art department materials are the largest single type of spend, followed by location fees, services and security, and production equipment hire.