U.K. TV’s Boom and Bust: 2022 Saw Biggest Ever Turnover But Producers Predict Pain for 2023

variety.com:

K.J. Yossman The U.K. TV industry delivered a total sector revenue of almost £4 billion ($5 billion) in 2022. The figure comes from a new production census report by local producers body Pact, which showed last year was a booming time for the industry, driven by both internal and international commissions and particularly an increased in streaming commissions. “2022 was clearly a big boom year, both domestically and internationally,” said Pact CEO John McVay during a press briefing to unveil the results of the census. “Clearly the U.K.

is still looked at as a place where large sums of money are being invested in content and that’s good news not just for my members but for everyone in the supply chain and the value chain for that as well” Domestic TV revenues grew to £2.2 billion while international revenues came in at £1.6 billion, representing a 70% increase.

Pact suggested the growth was partly down to break-out British hits such as Netflix series “The Crown” and “Sex Education” as well as streamers increasingly investing in local originals, such as Apple TV+ (which has commissioned a slew of U.K.

fare including “Slow Horses” and “Hijack”) and Disney+ (whose local originals include “Extraordinary” and an adaptation of Jilly Cooper’s “Rivals”).