Entertainment shows help British programming generate £1.5bn globally, according to Pact Exports Report
The gap between drama and entertainment sales narrowed last year as global exports hit a record £1.52bn according to Pact figures.
The indie trade body’s annual Exports Report, produced in partnership with 3Vision, found that overall sales were up by 7% in 2021/22, having fallen 3% to £1.4bn last year due to the pandemic.
The sale of dramas such as Vigil (World Productions) and The Tourist (Two Brothers) generated around £700m to continue to account for the bulk of sales (46%), despite slipping 7 percentage points year-on-year.
Meanwhile sales of entertainment shows including Love Island (Lifted) and MasterChef (Banijay) jumped to account for 24% of income (£365m), having previously accounted for 15% of the total.
The US retained its position as the biggest export market, although sales fell by 11% to £510m from £574m. It accounted for 34% of sales, down from 40% the previous year.
The next most lucrative export markets were Australia (£118m), France (£93m) and Canada (£92m) where sales grew by in excess of 25% year-on-year.
The starkest declines were suffered in Spain and China, which provided sales of £22m each, after falling 40% and 36% respectively.
Rising costs
The rising cost of production was highlighted by the majority of respondents, with 92% citing its impact as something that will impact the international distribution of programming over the next 12 months, up from 69% last year. Some 85% of respondents pointed to a lack of financial support from broadcasters, up from 44% last year.
Pact chief executive John McVay said: “After a period of huge uncertainty during the pandemic, it’s great to see TV exports bouncing back not only to pre-pandemic levels, but to an all-time high. This growth reinforces the UK’s reputation as world class producers of quality TV shows enjoyed by millions of people around the world.”
All3Media International’s chief executive Louise Pedersen added: “There are challenges around increasing production costs and some restructuring at US studios and we will be watching how these changes impact the sector over the coming months.”
No comments yet