The UK's motion picture, video, and television programme production sector is forecasted to grow steadily from 2024 to 2028, rising from £25.76 billion to £29.3 billion. In 2023, the sector was valued at £24.9 billion. Year-on-year growth rates from 2024 to 2028 range from approximately 3.54% to 3.02%. Notably, the five-year compound annual growth rate (CAGR) is around 3.31%, indicating a consistent increase in production activities.
Future trends to watch for include:
- Technological advancements increasing production efficiency and innovation.
- A growing demand for diverse and international content driven by global streaming services.
- Shifts in consumer viewing habits, potentially affecting traditional broadcasting revenues.
- Impacts of regulatory changes and economic conditions on production budgets and activities.