TV revenue fell at Pinewood Shepperton last year due in part to the BBC and ITV basing their productions in-house, the facility today said.
Total revenue for the group, which includes Pinewood, Shepperton and Teddington studios, increased by 8% to £43.4m in 2010. Operating profit rose by 20% to £9.1m.
The bulk of the firm’s revenue came from the film industry, with film-related income up 28% on last year at £29.1m, buoyed by a strong second half to the year.
Television revenue fell from £11.3m in 2009 to £8.2m in 2010.
Pinewood said the results reflected the “difficult commissioning environment and the diversion of the company’s television facilities at Pinewood for film production where there has been high demand”.
The facility also said revenues were impacted by the BBC and ITV basing their productions at their own in-house studio facilities.
Pinewood said that as a result of the BBC and ITV’s actions the competition for providers of smaller television studio space has increased.
But it pointed to increasing demand for “large scale flexible facilities” large TV productions. 2010 saw Pinewood host productions such Ant & Dec’s Push The Button and The Whole 19 Yards, while Dancing on Ice is using film stages at Shepperton Studios.
Chief executive Ivan Dunleavy said the group’s television business continued to perform well at the top end of a difficult broadcast market.
He added: “We have grown the top line by winning big budget international films which have been attracted to Pinewood by the superior quality of our assets and the range of services that we can offer.”
The group’s other revenue stream, Media Park, which offers 297 media-related businesses, was slightly down at £6.2 million, compared with £6.3 million the previous year.
The Pinewood board has approved the building of a 30,000 sq ft stage suitable for film and television. Subject to planning consent, completion of the new stage is expected by the second half of 2012.