Sales of British shows to the U.S. hit a record high last year as American buyers looked to stock the shelves with content, according to Pact‘s latest UK TV Exports Report.
UK distributor revenues from the U.S. shot up by 13% to £593M ($751M) during what was a challenging 2023, with turnover tumbling from nations like China and Japan. The £593M was comfortably the highest total from U.S. buyers, toppling the £574M generated during the first year of the pandemic.
Pact, which represents hundreds of UK indies, said the figures show that the U.S. remains “the region of primary focus for UK distributors.” “Despite the specific challenges coming from the U.S. market in the last 24 months the U.S. continues to be the largest destination for TV exports,” added the body. Shows flagged by the report that performed well included Doctor Who, which kickstarted its BBC-Disney+ regeneration, … Got Talent and The Voice from BBC Studios, Fremantle and ITV Studios respectively.
Last year saw huge shifts in the U.S. landscape. For around six months there was a virtual production shutdown due to the dual labor strikes, while streamers initiated major strategic rethinks. With originals in flux, it appears that UK content was partly used to bridge the gap. We have already reported on how American viewers flocked to UK streaming content after the strikes.
Yet the strikes plus “conditions of the global economy” and “escalating production costs” also “served to put pressure on UK distributors’ global client base,” according to Pact, which revealed the UK’s overall distributor revenue fell by around 2% to £1.82B.
The main contributor to this downfall was a shrinking of revenues with big European players, China and Japan. Revenue from France and Spain fell by 21% and 15% respectively, while China and Japan tumbled by 25% to just £17M and £8M, placing them 13th and 18th on the overall list. Broken down by continent, distributor revenue from Asia hit a new low of £75M – a figure that had topped £100M prior to the pandemic.
Turnover did increase from Australian buyers, which was second only to the U.S. with a record £160M, while Germany and the Nordics both rose by 8% to place them third and fourth. You can view the chart below.
