The UK TV sector generated US$4.7 million in total revenue last year, which is down by 8.3% from record-setting earnings in 2022, according to trade org Pact.

The drop stems directly from a decrease in domestic and international commissions. Local broadcasters are struggling with smaller budgets, less advertising and rising inflation. And beyond Britain’s borders, the story is much the same—plus Hollywood’s dual strikes last year halted most commissioning and production for several months. 

Domestic TV revenue was down 11% to US$2.6 billion, while international revenue dropped 14.7% to US$1.8 billion. Other revenue came from secondary rights sales, which were up by 6% to US$566.1 million. 

Holding steady from 2022, children’s programming was responsible for 2% of last year’s total earnings.  

Pact released this data today in the 2024 edition of its annual census. Consulting firm Oliver and Ohlbaum Associates produced the report, based on 86 responses to a financial survey sent to Pact members.

Image courtesy of Sabrina Mazzeo via Unsplash.