Netflix U.K.’s Production Spend Up to $10.2 Million in Part Due to Industry Inflation
variety.comK.J. Yossman Netflix’s U.K. production spend rocketed to £8.4 million ($10.2 million) in 2022 but the figure doesn’t represent entirely good news for the British film and TV industry.
The streaming company puts the 11% increase on production spend from the previous year down to inflation in the industry. “Increase in revenue is mainly due to an increase in content expenses,” wrote Emily MacKintosh, director of business and legal affairs at Netflix U.K., in the company’s financial report.
As Variety reported last year, a post-pandemic production boom had resulted in skyrocketing costs across the industry in 2022, compounded also by rising costs of food, fuel and energy in the U.K.
more generally. But the increase in production spend does also point to Netflix’s increasing presence in the U.K., where it has produced a number of hit shows including “Sex Education.” “Bridgerton” (and spin-off “Queen Charlotte: A Bridgerton Story”), “Top Boy,” “The Crown” and “Heartstopper,” among other fare.
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