International Sales of TV Programmes Fall Slightly; Sales to USA Reach New High
British TV exports around the world fell slightly in 2023-24, down 2 per cent on the previous year, to £1,818 million according to Pact’s annual TV Exports Report published today (Friday 29th November). Although this is still 27 per cent higher than sales in 2020-21.
The report found that despite the challenges in the US market over the past 24 months, the US continues to be the largest destination for UK TV exports, accounting for almost one third of exports, and it remains the region of primary focus for British distributors. Sales to the US grew by 13 per cent year on year to a new high of £593 million.
Other countries in the top 10 that experienced growth included The Netherlands (25 per cent increase to £35 million) and South Africa (20 per cent increase to £27 million). Germany and The Nordics both saw 8 per cent increases, reaching their highest ever total export revenues (£118 million and £104 million respectively).
Elsewhere in the top 10 countries, France, Italy and Spain all saw significant decreases, with France falling out of the top five for the first time.
Co-Productions and Finished Programme Sales Fall, International Productions Increase
Sales of co-productions fell by 28 per cent compared to the previous year, to £120 million, which is likely due to a reduction in activity (especially premium drama) by some of the large US media companies that have partnered with companies in previous years.
Finished programmes fell by 8 per cent (to £1,019 million) but still remained the largest contributor by some way. International Productions grew significantly by 29 per cent, to £325 million, increasing its share of total TV exports from 14 to 18 per cent.
Scripted Drama Loses Share to Entertainment
Scripted drama continued to dominate the genre share of exports, but fell to 43 per cent from 49 per cent in the previous year whereas Entertainment saw the biggest increase of 6 per cent to 27 per cent.
Commenting on the report, Pact Chief Executive John McVay OBE, said: “This year’s report reflects the challenges that the industry has faced over the past few years and highlights the very mixed picture and variances experienced by UK distributors. But it also shows the strength and tenacity of the sector, as well as the continued quality of British TV content that is enjoyed across the globe.”
Louise Pedersen, CEO, All3Media International, said: “The Pact Exports Report reflects the general resilience of the sector in a challenging market. Distributors are working hard across multiple rights and revenues streams to maximise income for producers, however the decline in US co-production funding should not be ignored. Its main impact is on the financing of premium scripted shows, which is proving increasingly challenging above a certain budget level. AVOD and FAST have provided useful revenue sources for catalogue titles and tend to be high volume lower fee per hour opportunities. The demand for unscripted titles has remained steady and in All3Media’s case format activity has been helped by some stand out key performers, notably The Traitors.”
Janet Brown, President, Global Content Sales, BBC Studios, said: “Despite an evolving and disrupted global content landscape, British content continues to have an incredible resonance around the world, and BBC Studios is privileged to have one of the most robust and in-demand portfolios in the marketplace. From critically acclaimed and popular series such as Doctor Who, Planet Earth III and The Majorca Files, I am proud of BBC Studios leadership and the role we play in bringing the best of British creativity to the rest of the world.”
Bob McCourt, Chief Operating Officer, Commercial and International, Fremantle, said: “Despite industry challenges, we’re rounding off a great year for Fremantle. Our content line-up across entertainment, drama, film and documentaries showcases our commitment to deliver powerful programming from world-class talent that continues to engage audiences. As we head into 2025, we look forward to continuing our growth and working with partners to deliver irresistible entertainment across all genres.”
Ruth Berry, Managing Director, Global Partnerships, ITV Studios, said: “Considering the operating environment, I think it’s a huge credit to the UK industry to see such a marginal decrease in TV exporting over the last year. It just goes to show that no matter the headwinds, Britain’s creative community is robust. We’ve still seen our dependable, trusted brands like Love Island and The Voice deliver for broadcasters and their advertisers in these uncertain times. As ever, our performance continues to be shaped by the strength and breadth of the business – a deep catalogue, 60+ labels and 360 exploitation including the evolution of our digital business with the imminent launch of Zoo 55. All of which enables us to find the right content for our buyers ‘whatever the weather’.”
Pact’s UK TV Exports Report, sponsored by Fremantle, BBC Studios, ITV Studios, All3Media International and undertaken by 3Vision, surveys over 20 UK distributors about their international sales and any challenges they have faced in the past year, as well as any they expect to come in the next 12 months.