Pandemic Wipes $3.5B Off Film & TV’s Contribution To UK Economy

·1 min read

As coronavirus continues to wreak havoc on production in the UK, with shutdowns on shows including Bridgerton, a new report has cast light on the scale of the damage caused by the pandemic.

Not-for-profit Creative UK Group teamed with research firm Oxford Economics to assess the screen sector’s contribution to the British economy. They concluded that film and TV’s £21.6 billion ($29.4B) gross value added in 2019 fell by £2.6B ($3.5B), or 12%, last year amid the coronavirus crisis.

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Furthermore, Creative UK Group’s report said 5% of the 239,000 people employed by the film and TV industry lost their jobs in 2020. That equates to 12,800 jobs being wiped out.

Creative UK Group said it could have been worse without government interventions such as the Production Restart Scheme, which provided an insurance safety net for productions and protected 44,000 jobs.

Creative UK Group said Britain’s creative industries combined lost £12B in gross value added, while one in 20 people lost their job during the pandemic.

Caroline Norbury, CEO of Creative UK Group, said: “Many creative businesses have faced crippling hardships during the past year, and we are still seeing too many talented individuals leave the sector as job losses continue. The pandemic has exacerbated existing inequalities and we need to ensure that we build back in a way that drives inclusive growth, that creates opportunity and that enables people everywhere to thrive.”

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