Skyrocketing Costs Hit U.K. TV Industry: ‘We Are Facing a Horrific Winter,’ Pact Chief Says
variety.comK.J. Yossman With inflation hitting record levels, a looming energy crisis and rising interest rates, the whole of the U.K.
has been left reeling. But for the domestic television industry, which was already dealing with a post-COVID skills shortage and industry-wide inflation prompted by the streaming wars, the situation has now become critical. “We are facing a horrific winter,” said John McVey, CEO of Pact, a trade body representing producers. “Borrowing costs have gone up massively, operational costs as a consequence of that have all gone up, gas has gone up, heat has gone up.
If you’re having to film on location in multiple locations around the U.K., and you have to transport a lot of people, they have to be fed, watered, accommodated.” Steve Wynne, CEO of production company Strawberry Blonde, agrees, citing higher energy bills in the office, the skills shortage and freelancers upping their rates as the biggest hits to the budget. (According to latest figures from the British Film Institute, U.K.
production will require over 20,000 additional full-time employees by 2025). “We’ve got editors who are charging over £2,000 [$2,240] a week, which we’ve never heard of before,” said Wynne. “People charging rates that we’re having to pay, because we haven’t got a choice.” The behind-the-scenes skills shortage is reflected on-screen too.
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