Solving the media spend puzzle: Creative freedom and financial control

The UK’s TV production industry is world-class. From big-budget dramas to fast-turnaround factual shoots, it’s defined by creativity, complexity, and constant change. In 2023, UK film and high-end TV production spend reached £4.23 billion – recovering to pre-pandemic levels despite the impact of Hollywood strikes and reduced broadcaster budgets.  

Looking ahead, growth forecasts expect total revenues to climb to £8 billion by 2030, driven by sustained demand and expansion across segments. While production spend reflects investment in content creation, revenue measures the income generated from that output and both are trending upward. 

While the industry’s outlook is positive, behind the camera, media production finance teams face a different kind of drama. 

A complex sector with high stakes 

In 2023, over 313,000 people were employed in the UK’s media and entertainment sector, and a further 345,000 worked freelance across artistic, literary, and media roles. Productions rely on this freelance talent, from camera operators to costume designers, to bring ideas to life. 

But managing spend across all of these multiple projects, locations, and employment types is no small task. Props, travel, freelancer payments, location fees, and last-minute changes all need to happen fast. Finance teams are still dealing with manual processes, shared cards, and limited budget visibility, slowing everyone down when pressure is already high. 

Why production spend is so hard to control 

As production models evolve, workflows increasingly span multiple locations, hybrid teams, and external partners who need secure, short-term access to funds. Freelancers are essential to creative delivery, but payment processing and compliance become more complex with every additional partner. 

Financing models have shifted too. Many productions now rely on a patchwork of co-producers, distributors, tax credits, and public incentives — each with its own reporting requirements. That fragments budgets and complicates reconciliation. 

On top of this, production costs have risen sharply in the past five years, especially for highly skilled technical roles, post-production, and directors. Skills shortages push rates even higher, particularly in high-end TV and premium drama. 

PwC’s Global Entertainment & Media Outlook predicts the sector will outpace global economic growth by 2029 – but without modern spend processes, operational complexity becomes a bottleneck. 

The cost of friction 

Cash floats, shared cards, and retrospective reconciliation are still common. The result? 

• Finance teams lose time to low-value admin. 
• Productions lose speed waiting for approvals or reimbursements. 
• Cost control slips when spend isn’t tracked in real time. 

When budgets aren’t allocated by shoot or crew, overruns, vendor disputes, and delayed decisions are inevitable. And for smaller independents and self-employed creatives, every pound of working capital matters. 

A better way to manage production spend 

Finance leaders in media are under pressure to be strategic partners but legacy tools make it harder to keep up with production’s pace. That is where Soldo becomes the production office’s best supporting act, making every pound, payment, and project easier to manage. 

With Soldo, production companies can: 

• Fund, track, and control spend across people, projects, and locations in real time. 
• Allocate budgets precisely – by shoot, crew, or cost centre, so nothing is missed. 
• Replace shared cards and offline processes with virtual or physical cards tied to dedicated budgets. 
• Onboard and offboard freelancers instantly, issuing cards for the project duration and deactivating them when it wraps. 
• Capture receipts and code expenses on the go, cutting down on month-end work. 

From set to studio, location-based spend control means finance can oversee budgets remotely while crews get funds instantly, so projects stay on track. 

Production companies already making the change 

• Fremantle, a global production and distribution company, replaced cash floats and manual workflows with production-specific cards and automated tracking. Finance now reconciles in real time, saving up to 35 hours of admin per production.
• UNIT, a leading creative studio, removed petty cash and shared cards. Staff gained autonomy within clear limits; finance gained full visibility and simplified reconciliation. 
•  Mandala Creative Productions issues Soldo cards to internal teams and freelance collaborators across Europe. Real-time wallet transfers mean crews always have access to funds – no reimbursements required. 

“In our line of work, emergencies are the norm,” says Alessandra Tatriele, Executive Producer at Mandala. “With Soldo, I can transfer funds in real time from my wallet to theirs. No delays, no stress.” 

Time for finance to lead the change 

Modern production needs modern financial systems. Without real-time data and structured workflows, it’s harder to manage decentralised spend, control costs, and make fast, informed decisions. 

Soldo gives finance teams the visibility and control to keep creativity moving – without compromising governance. Whether your crew is full-time, freelance, or a mix, you can keep budgets on track and spend aligned with your strategy.