Pact: “Sluggish” Growth for U.K. TV Production Revenues

Total TV production revenues in the U.K. rose by under 2 percent in 2024 to £3.66 billion as the sector navigates a contracted commissioning environment domestically and internationally, according to Pact’s latest annual survey.

The Pact Census, produced by Oliver and Ohlbaum Associates, shows that the year’s modest gains were driven largely by an increase in secondary rights revenues, as well as strong digital revenues in the U.K. and internationally.

Domestic TV revenues inched up slightly to £2.09 billion. Primary U.K. commissions were down by almost 3 percent to £1.74 billion, but U.K. rights income grew by £141 million to £303 million as broadcasters opted for more acquisitions over original productions. Primary U.K. commissions were underpinned by the PSBs, accounting for 83.4 percent of U.K. commissioning revenue. By genre, drama leads, accounting for 42 percent of commissioning spend, with revenues up 19.2 percent. The value of factual and factual entertainment decreased by 23.6 percent.

International revenues, meanwhile, fell by £57 million to £1.35 billion in 2024 as a result of lower international sales of finished programs, although they remained above pre-pandemic levels. Linear commission revenues dropped by 36.7 percent to £279 million, but total primary international commissions remained stable at £1.13 billion in 2024. For medium-sized producers with companies earning over £25 million, international commissions are paramount, accounting for more than 76.3 percent of total international commissioning revenue in 2024. Around 120 producers, 32 percent of the total market, received a primary international commission.

Amid the commissioning slowdown, secondary rights revenues were up by 17.2 percent to £510 million in 2024, returning to historic levels, driven by an increase in U.K. secondary TV sales, distribution advances and digital home entertainment. Non-TV revenues also saw strong gains, rising by 24 percent to £224 million. Digital commissions rose to account for 9 percent of U.K. commission revenues for a total of £154 million, a 60 percent boost, on par with the record levels of 2022. International SVOD commission revenues rose by 24.2 percent to £850 million, accounting for 75.3 percent of total international primary TV revenues.