The British TV production sector reached a new high of £2.7 billion ($3.5 billion), a rise of nearly a third over the past decade, according to Pact’s annual census.
The independent TV sector has grown at 1.9 percent per year since 2012, equivalent to roughly £50 million ($65 million) per year. This growth has been fueled by international revenue, which has doubled over the past eight years to £802 million ($1.04 billion). The growth has been bolstered by commissions from overseas companies increasing by 13 percent per year over the past three years.
Commissioning revenue from international on-demand services increased by 19 percent year-on-year, to £150 million ($194 million) and accounted for nearly one-third of international commissioning revenue.
The census also shows that spend on factual-entertainment commissions has almost doubled since 2012 (from 12 percent to 23 percent). The share of spending on drama increased slightly after a prolonged period of decline (up to 26 percent).
Pact Chief Executive John McVay said: “The indie TV sector has seen impressive growth in the past decade which is being driven by international revenue, and in particular commissions from overseas companies. It’s fantastic that British content is sought after around the world and that it contributes so much to the British economy.”