British TV sales to the US grew by 13 per cent year on year to a new high of £593 million, according to the annual TV Exports Report published today by TV trade body pact.
British TV exports around the world fell slightly in 2023-24, down two per cent on the previous year, to £1,818 million. Although this is still 27 per cent higher than sales in 2020-21.
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.
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 eight 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.
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 eight 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 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 six per cent to 27 per cent.
John McVay, Chief Executive, Pact 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.”
Pippa Considine
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