On the eve of the government revealing its next fiscal budget, most UK producers (69%) are not confident that it will support Britain’s media business, according to a survey conducted last week by film and TV PR company Percy & Warren.
The findings paint a bleak picture. Producers are understandably worried about the lower volume of commissions and smaller commissioning budgets that the industry has been experiencing of late. And this uncertainty is reflected in their own plans (or lack thereof) for growth—30.6% of respondents said they might not invest in their own companies in 2025.
Producers also offered differing opinions about whether the country’s film and TV industry will actually grow next year, with 53.8% saying it will, 7.7% saying it won’t, and 38.5% not sure either way.
Survey respondents have a well-defined wishlist of things they want from their government, including support for under-resourced indie producers, freelancers and the regional production hubs outside of London. They’d also like to see tax credits for unscripted content and tax relief for corporate R&D spend. They argue these changes will allow the UK to remain competitive, draw in international partners and support indie creators.
A tax credit for unscripted content is an especially hot-button issue for UK producers (36% of producers want it), since the government introduced a 40% credit for indie films with budgets up to US$19 million this year. Producers want an equivalent one for unscripted programming since the genre creates local jobs and contributes positively to the country’s economy, says Derek Drennan (co-founder of Nest Productions, which provides crews and accounting services to productions), who has been lobbying hard for this tax credit.
Image courtesy of Sabrina Mazzeo via Unsplash.