Streamers fuel UK show exports to record $2.28bn, as Europe offsets US stagnation

The Ipcress Files (Source: ITV Studios)

Streamers have driven international sales of UK shows to new heights, with exports rising 22% over the past 12 months to reach £1.85bn ($2.28bn), according to data revealed today.

UK finished programme exports including Frozen Planet II and Litvinenko made up 60% of exports and rose 11% to £1.11bn – breaching the £1bn mark for the first time – while more than half of sales (53%) were to international streamers, up from 39% last year.

Despite the growth, the findings from Pact’s UK TV Exports Report also underlined the US sqeeze with spending remaining flat.

The Stateside market continues to be the most important market for UK TV exports, contributing £525m (28%) of all exports, but is still has not managed to return to pre-Covid numbers after its 11% decline in 2021-22.

Frozen Planet II (Source: BBC Studios)

However, together with Canada, the North American market as a whole represented 38%, growing by 14% year on year, while format sales surged 22% and co-production sales by 69%.

European expansion & outlook

Growth across Europe helped to make up for the flat US market, with Spain growing by 79% to £40m, Italy increasing by 21% to £38m and Germany moving into third place behind Australia after another strong year, rising 26% in the past year to £108m.

Just outside of the top ten, South Africa experienced strong growth rising 66% to £23m.

There were few surprises on the genre front, with drama representing 49% of revenue, followed by entertainment (21%) and factual (18%).

And while 2022/23 export sales have brought record highs, the future looks likely to be challenging with a lack of financing support from commissioners noted as the key impact on the distribution of UK content internationally in the next 12 months by respondents, who consist of more than 20 domestic distributors.

More than nine out of ten respondents said increased production costs would also affect sales, while 73% of distributors said the growing market for FAST (Free Ad-Supported TV) channels would impact the market for UK programming.

John McVay, Pact CEO, said he expected the findings would represent an “exceptional year and that next year’s report will reflect the current global financial uncertainty and rising production costs.”

Pact’s UK TV Exports Report is sponsored by distributors Fremantle, BBC Studios, ITV Studios and All3Media International, and undertaken by 3Vision.

The Traitors US

Fremantle COO of commercial Bob McCourt and BBC Studios sales chief Rebecca Glashow noted “industry headwinds” and market “disruption”, while All3Media International CEO Louise Pedersen also highlighted the Stateside slowdown.

“The current landscape does have challenges however – US buyer budgets have been impacted over recent months and this, together with high production costs has made financing shows more risky.

“Yet overall, this is a sector that is remains confident in its skills and that has learnt to adapt quickly to market changes, bringing significant revenues back to the wider UK television production and creative industries.”

Ruth Berry, MD of global partnerships at ITV Studios, pointed to shows such as The Ipcress Files as high performers and added: “Despite the challenges and uncertainties of the past year, it’s great to see growth is at an all-time high, proving that British television continues to be loved globally.

“That said, we’re acutely aware buyers and commissioners have become more discerning than ever and only the very best content will cut through.”

The findings correlate with broader global sales trends including the surging growth outside of the US, as reported in TBI’s Distributor Survey unveiled prior to MIPCOM. To read more, click below.

TBI Distributor’s Survey 2023 – Part 1: Scripted

TBI Distributor’s Survey 2022 – Part 2: Unscripted

TBI Distributor’s Survey 2022 – Part 3: Formats

TBI Distributor’s Survey 2022 – Part 4: Kids

TBI Distributor’s Survey 2022 – Part 5: Conclusion