U.K. indie TV prod'n soars
EmptyIn a sign of the health of the U.K. production sector, revenue for independent TV producers topped £2.1 billion ($4.2 billion) in 2007, up 9.4%, trade body Pact said Wednesday.
The third annual Pact census said the growth was driven by increased commissions from broadcasters, which increased spending by more than £156 million ($302.9 million).
New-media revenue dipped 7.1% to £39 million ($75.7 million), while multichannel revenue rose to £240 million ($466 million). International sales totaled £310 million ($601.9 million), with the U.S. accounting for 84% of all international revenue.
Pact CEO John McVay said the figures illustrate the continued strength of the U.K. TV sector. "With the combined data from the last three years, we are now in an even better position to provide evidence of the viability of the industry," he said.
KPMG media partner David Elms, who worked with Pact on the research, said that consolidation in the media sector also drove 2007 revenue but warned that the current financing climate could impact the sector this year.
"The number of completed transactions in the sector (in 2007) speak for themselves as numerous independent producers were bought out by larger, better-funded corporate acquirers in the drive for scale," Elms said.