LONDON (ShareCast) - (Sharecast News) - Netflix is set to raise its spending on production of TV shows and films in the UK to $1bn this year despite the break in filming due to the coronavirus pandemic.
Netflix increased its budget by 50% from the £600m it spent on UK-made films and TV shows in 2019. Netflix UK originally estimated a spend of $500m last year, but ended out investing £500m.

The spend has been invested in making more than 50 TV shows and films in 2020 despite the break in production due to the Covid-19 pandemic.

The UK has become the most important international production hub for Netflix. It makes around a third of all Netflix productions made in Europe and is only second to the US in the amount of shows and films made.

"The UK is an incredibly important market to Netflix and we are proud to be increasing our investment in the UK's creative industries," said a spokesman for Netflix.

"The Crown, Sex Education and The Witcher are among the shows that have been made in the UK this year and will be watched by the world. These shows are a testament to the depth of talent that exists here."

Netflix signed a deal last month to take over Shepperton Studios and expand its locations for filming.

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