Throughout an look on the Welsh Affairs Choose Committee, Netflix revealed that its productions in Wales have contributed £200m to the UK economic system*.
Netflix’s funding in productions shot in Wales is inflicting a ripple impact throughout the whole UK economic system. Greater than 40% of Netflix’s funding in Wales goes past the UK’s TV and movie trade, with 1000’s of distributors from the hospitality, logistics and rental sectors all benefiting. Netflix has beforehand shared that for each £1 it spends on sequence and movies in Wales:
- 58p is spent within the TV and movie sectors
- 30p is spent throughout different sectors of the economic system akin to property, meals, development.
- 7p is spent within the rental and leasing sectors
- 5p is spent within the wider artistic, arts and leisure sectors
- Moreover, each £1 spent on sequence and movies in Wales generates an extra 80p of spending throughout the UK.
Talking to the Welsh Affairs Choose Committee right this moment, Benjamin King, Director of Public Coverage UK and Eire mentioned:
“Our productions in Wales have generated £200 million for UK GDP, and for each £1 spent on these by Netflix, 40% of that spend is outdoors the movie and TV sector”.
TV and movie produced in Wales is a part of Netflix’s $1bn annual funding in UK-made content material with over 60 exhibits throughout each nook of the nation every year.
*£200m contributed to UK economic system over the past 5 years (2017-2022)
