Film and TV studio market update

This report provides an update to a previous market assessment developed as part of the Options Appraisal for a film and TV production studio in Scotland in 2014. In particular, the update aimed to examine: recent demand for studio space based on the volume of production activity in the UK, taking account of the extension of the film tax credit scheme into high end TV (which was still relatively recent at the time of the previous analysis); the effects on the supply of studio space across the UK, identifying any broad trends and/ or constraints in the supply of suitable production space; and pricing for studio space.

The methodology consisted of assessment of publicly available data and information on production in Scotland and the UK, consultation with industry contacts and a web-based search of studios across the UK.

Overall, the update of the market information paints a similar picture to that provided in the 2014 report. Key findings included that: the level of production spend in the UK continues to grow as a result of the tax relief schemes, and this has been driven in large part by incoming production from abroad; strong demand for studio space continues, and there is real pressure on both space and crew across the UK; growing demand is spurring the development of new studio space across the UK, together with incentive funding to help attract mobile production (e.g. Wales, Republic of Ireland increasing their tax relief, Scottish Production Growth Fund); demand for convertible warehouse space is also increasing, both as a result of the lack of purpose built studio space and pressure on production budgets, particularly for domestic productions; and there is still a clear opportunity for the provision of studio space. However, it was found that pricing remains a key issue, and industry feedback suggests that few studios can charge the kinds of rates quoted by some high profile studios, even those with high specification facilities and strong reputations.

No recommendations were made.