Netflix and Amazon Prime help bolster UK TV production sector revenue
04 Sep 2018
Netflix and Amazon Prime helped the UK TV production sector post record revenue last year, the industry’s trade association said.
Shows including The Crown, Black Mirror and The Grand Tour contributed to income of £2.7 billion in 2017, a rise of nearly a third over the past decade, according to the Producers Alliance for Cinema and Television (Pact).
The annual census reveals the independent TV sector has grown by 1.9% per year since 2012, equivalent to roughly £50 million per year. This has been driven by international revenue which has more than doubled over the past eight years to £802 million.
UK programmes including Victoria, Sherlock and Midsomer Murders continue to be popular abroad and contributed to the growing figures.
Commissioning revenue from overseas on-demand services – such as Netflix and Amazon Prime – also increased by 19% year-on-year to £150 million, thanks to shows including The Crown, Black Mirror and The Grand Tour.
The census also found the spend on factual entertainment shows – including Love Island, Gogglebox and First Dates – has almost doubled since 2012.
John McVay, Pact chief executive, said: “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.
“It’s fantastic that British content is sought-after around the world and that it contributes so much to the British economy”.
Source: Irish News