BBC and ITV Cut Big-Budget TV Spending as US Streamers Dominate UK Market
The UK television landscape is shifting dramatically as BBC, ITV, and other British broadcasters reduce their investment in high-end TV shows. Meanwhile, American streaming giants like Netflix, Disney, and Amazon are pouring massive amounts of money into UK productions. This shift is reshaping the industry, making it harder for traditional British networks to compete in the high-budget TV space.
According to the latest data from the British Film Institute (BFI), UK broadcasters slashed their spending on premium TV shows by 25% in the past year, bringing it down to £598 million. This is the lowest level since 2015, excluding the anomaly of 2020 when the pandemic halted production. At the same time, investment from US-based media companies skyrocketed by £600 million, reaching a staggering £2.82 billion.
What does this mean for British television? Industry experts warn that UK broadcasters are being "priced out" of the market for high-quality dramas and big-budget productions. For instance, Peter Kosminsky, the director of Wolf Hall , recently revealed that he, the producer, and lead actor Mark Rylance all had to take significant pay cuts just to get the second season made—because no streaming platform would co-fund it.
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This trend is evident in the types of productions being funded. UK broadcasters have been forced to make cuts, with Channel 4 implementing its biggest job reductions in over 15 years and Sky eliminating 1,000 positions. Meanwhile, big-budget projects like The Immortal Man , a continuation of Peaky Blinders , and Man vs Baby , starring Rowan Atkinson, are being financed by US streamers. Last year, inward investment—money coming from foreign production companies—accounted for 82% of the total £3.44 billion spent on high-end TV production in the UK.
Interestingly, despite fewer projects being greenlit, overall spending on UK-based productions has actually increased. The total amount spent on high-end TV rose by 11% from £3.09 billion in 2023 to £3.44 billion in 2024. However, this increase comes with a catch: the number of high-end TV shows produced dropped from 223 to 181, highlighting the rising costs of production and talent.
The same trend is visible in the UK film industry. Spending on major film productions, including Jurassic World Rebirth , How to Train Your Dragon , and The Running Man remake, jumped by nearly 25% to £2.12 billion. However, just like in TV, most of this funding—almost 90%—came from major Hollywood studios rather than UK-based companies.
A major factor affecting this shift was the Hollywood writers' and actors' strikes in 2023, which caused many projects to be delayed or restructured. As a result, UK production spending took a temporary hit but rebounded strongly in 2024, reaching a combined total of £5.6 billion for film and high-end TV, up from £4.7 billion the previous year.
While these numbers show that the UK remains a powerhouse for film and television production, they also highlight a growing challenge. The dominance of US-based investors means that while more money is being spent, British broadcasters are losing their ability to control the stories being told. If this trend continues, the future of truly homegrown British television could be at risk.
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