Titles such as The Crown, Grand Tour , and Black Mirror took UK TV production to record levels. In 2017, the British television production industry struck a record £2.7 billion in revenues.
Massive 10-Year Increase
Netflix and Amazon Prime played a tremendous role in boosting the United Kingdom’s television production industry to record levels last year. In 2017, shows such as The Crown, The Grand Tour, and Black Mirror played a significant part in the industry’s £2.7 billion in revenues. That figure represents an increase of more than one third over the last ten years.
Both streaming video services give the UK TV production sector a considerable shot in the arm, said the trade association for the industry, the Producers Alliance for Cinema and Television (P.A.C.T.). The association’s annual census showed an average annual 1.9 percent increase in the independent television sector since 2012. That translates to a rise of about £50 million per year. Moreover, its main driving force has been international revenue, which, over the last eight years, has seen more than a doubling to reach £802 million.
Solid Foundation for the Future
Ongoing highly popular British programmes have included Sherlock, Victoria, and Midsomer Murders. They have had a solid following that has steadily grown over time. Each one contributed to the rising total figures.
Furthermore, overseas on-demand services, such as Netflix and Amazon Prime, have commissioned revenue at a tremendous 19 percent annual growth rate. This brought revenues from that sector alone to £150 million. The Crown, The Grand Tour, and Black Mirror were the top players in that success story, showed the census.
The PACT census noted that Love Island, First Dates, Gogglebox and other factual entertainment programmes have seen a near doubling since 2012.
The Rise of the Independent
“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,” said PACT chief executive John McVay. “It’s fantastic that British content is sought-after around the world and that it contributes so much to the British economy.”
Netflix, Amazon Prime and other similar programming players are expected to increasingly create shows away from Hollywood and even the United States. This trend will be only bolstered if the European Union decides to implement a regulation it is considering, to require a certain percentage of new content to be created in the E.U.