U.K. television industry turnover may experience an hard setback in 2023, after well over £3 million in 2022.
Such as emerges from data of the annual census of Pact, U.K. industry association for independent producers of feature film, television, animation, children’s and digital content.
Pact CEO John McVay says it will be unlikely to see new growth, due to slowing commissions and an increase in inflation in 2023.
At the press conference to announce the results, McVay was careful to point out that the forecast for the next census is likely to be similar to 2019, given the current economic situation.
Revenue in 2019 was £3.3 billion, the highest it had been in a decade, before the pandemic crisis caused a significant drop in incomes.
Domestic and international TV earnings in the U.K. had increased by 70% overall in the past year thanks to hugely successful British titles, such as the Netflix series “The Crown” and “Sex Education” due out on the streaming platform on Sept. 21, and targeted investments by streamers such as Apple Tv+ and Disney+ on original productions, such as “Slow Horses” and “Extraordinary.”
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