Smaller Indies Up Share of U.K. Commissions

LONDON: Small to medium-sized independents landed 34 percent of commissioning spend in the U.K. in 2014, up from 24 percent the year prior, according to the Pact Census Report.

Pact, which represents the interests of the British indie sector, classifies small to medium-sized independents as those with a turnover of less than £25 million ($38.4 million) a year. The biggest indies had a share of 29 percent in 2014, down from 47 percent in 2012.

Pact reports that overall indie industry revenues fell by 4.2 percent last year to £2.9 billion ($4.5 billion). Primary U.K. commission spending fell to £1.63 billion ($2.5 billion) from £1.76 billion ($2.7 billion) in 2013. International revenues fell from £939 million ($1.4 billion) to £891 million ($1.37 billion). Revenues from the sale of U.K. shows, however, rose to £180 million ($276 million) from £156 million ($393 million) and total U.K. rights income increased to £364 million ($558 million).

“This growth in share of commissioning spend by smaller indies is impressive given the overall decline in revenues," said Pact chief executive John McVay. "It shows how smaller indies are working hard with lower margins and taking more risk in a tough market to continue to produce great British programs.”