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UK Film & TV Industry On Course For $45B Revenue Hit Amid Coronavirus: Oxford Economics Report
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deadline.comJake Kanter International TV EditorThe COVID-19 pandemic is set to cost the British film and TV industry £36B ($45.3B) in lost revenue, with the sector set to shrink 57% in comparison with 2019, according to a report by research firm Oxford Economics for the Creative Industries Federation.The chilling forecast reflects the scale of the production shutdown, with up to 65% of shoots being put on hold, impacting film and TV shows including Jurassic World: Dominion and Peaky Blinders.
The Oxford Economics forecast also encompasses the dramatic hit to advertising revenues, which has affected broadcasters such as ITV and Channel 4.
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