The Changing UK Content Investment: What Could This Mean for the Health of the Production Sector? report is intended to start a conversation about what the UK industry wants for its production sector and those who work in it – where is the sector heading in the next five years and are we happy with this direction?
The report looks at how the success of the UK TV production sector relies on a cycle of creative renewal meaning that creative talent is incentivised to build and develop businesses. It attracts third party funding to the sector and commissioners benefit from innovative ideas and audiences benefit from new stories across the UK. The cycle of renewal has worked extremely well over the last two decades, supported by a balanced PSB regulatory framework.
Their commissioning is essential to the health and sustainability of the production and its cycle of creative renewal.
However, the report found that unsurprisingly commissioning has been challenged in recent years as viewing to linear television continues to gradually decline, the rise of online platforms has impacted advertising models and public funding has declined in real terms. To respond to these pressures, PSBs are changing their commissioning strategies to focus on ‘fewer, bigger, better’ productions that can cut through and drive viewing on their VOD services.
The report looked at the extent to which each genre supports a variety of production company types and found that investment is moving away from a range of genres and budget ranges that provide opportunities for producers to develop their businesses.
Polarisation seems to be emerging between the largest and the very smallest producers and programme budgets which the report suggests will also put pressure on progress in increasing the diversity of off-screen talent and crew.
Pact CEO John McVay, said: “The report shows that if recent trends continue, the balance of the production sector could be at risk, further progress in improving the diversity of off-screen talent and crew would come under pressure and the whole cycle of creative renewal could be challenged.
“This would affect both commissioners and audiences across the UK and could also affect the UK’s global competitiveness and ability to attract inward investment.
“It’s important that we start a conversation about the findings of this report and the impact they will have on the future of the production sector.”