Pact: UK TV Export Report 2020
Liam Costello Senior Manager
3Vision, in association with key stakeholders, produced the annual TV Export Report for Pact, capturing insight on how much value UK TV content has overseas.
North America Remains Strongest Market
The USA continues to be the most important market for UK exports contributing 32% (£466m) of all revenue in the 2019/20 financial year, an increase of £22m year-on-year. France (£102m) and Australia (£98m) complete the top three markets. China was identified last year as a market with growth potential and revenues there increased by 25% to £40m.
Looking ahead to 2020/21, China and Latin America are again predicted to offer opportunities as well as expected continued growth in the USA.
Finished TV programming surpasses £1billion
Sales of finished TV programming remained the largest source of income (70% of the total) and this year surpassed £1 billion for the first time, an increase of 7% year-on-year.
Total revenue from the sale of formats increased by 39% to £119m with the majority (51%) of sales to Europe and sales of co-productions also increased by 6% to £133m with North America - at 88% - the largest buyer.
Library sales (content aged 4+ years) comprised 22% of revenues this year (compared to 38% last year). With production largely halted past March 2020 there may be an increased contribution from library sales in the next financial year, with feedback from UK distributors highlighting increased demand already.
The enduring strength of UK TV exports is a credit to the excellence of this extraordinary industry and I am confident that the sector will continue to go from strength to strength in the years ahead as the world recovers, resets and returns to growth.