Pact: U.K. TV Production Revenues Bounce Back

The latest edition of Pact’s annual TV Production Census has revealed that revenues have nearly returned to pre-Covid levels, growing by 13 percent in 2021 to £3.25 billion ($3.7 billion).

This is just £79 million ($90 million) below pre-Covid revenues in 2019.

Domestic TV revenues saw a 30 percent increase year-on-year, with commissions from U.K. broadcasters as the main driving force of the recovery, reaching £2.19 billion ($2.5 billion). It marks the first time such revenues have reached over £2 billion.

Public broadcasters’ spending on indie producers grew by 24 percent, and multichannel spending—largely driven by Sky—nearly doubled with an increase of 99 percent.

International revenues fell for the second year in a row to £952 million ($1.09 billion). Revenue from international sales of finished programming grew by 10 percent year-on-year, though, as the U.K. was able to get back into production quicker than most other countries, and therefore, its shows were purchased to fill schedules.

Digital commissioning revenues were down by £57 million ($65 million) in 2021, though U.K.-based digital commissioning revenue increased sharply by 191 percent. The recovery was largely driven by increased revenues for the larger producers, with 44 percent of total revenues achieved by producers with a turnover of over £70 million ($80 million).

Drama ranked as the most valuable genre after having suffered in 2020 due to Covid-19. In 2021, it accounted for 35 percent of all U.K. spend. Entertainment was at 28 percent and factual entertainment at 20 percent.