Increased international revenues have helped UK independent producers weather declining commissioning budgets, according to a new survey by trade body Pact.
The Pact Financial Census and Survey 2010, in association with research house Oliver & Ohlbaum, shows primary commissions from UK broadcasters declined by over £100 million in the last twelve months, but this was offset by increasing international production and distribution revenues. UK indies made £439 million from international business last year compared to £342 million the year before.
However, the independent production sector saw its overall revenues remain flat over the course of the year at £2.2 billion.
Producers also believe that the international marketplace was going to continue to become more important for them in the future with some 60% of producers thinking the importance of international commissions will rise. Some 54% also believe that format licensing will become more important in the year ahead and 75% think the contribution of ancillary rights will be more vital.