Throughout history, foreign markets have benefited the television industry in the UK. According to statistics from Betway, this trend is not likely to slow down any time soon. The United Kingdom has one of the best TV industries worldwide with internationally known formats and shows. In 2020 alone, the UK revenue from its TV export sales was£1.48 billion.
UK Classic Shows Become Global Icon
For a TV show to sell on the international market, the show must have been successful locally. That way, other countries could include the show in their channels. Also, producers outside the UK can use the format to create their versions in their individual markets.
Shows such as Planet Earth, Strictly Come Dancing, and The Chase are some of the UK formats that have been remade worldwide. Aside from the UK, scripted dramas, reality series, and game shows have made their way to the world stage. Some of the variants of these shows have been more popular than the original UK version.
Revenue Generated from UK TV Exports
From the £1.48 billion collected from UK TV exports, £1 billion was from finished TV shows. Shows like Planet Earth, Doctor Who, and Downton Abbey comprised 70% of the TV export sales. As a result, completed UK TV shows were the largest revenue source for the nation in 2020. Renowned UK TV formats including Come Dine with Me as well as Love Island have international adaptations. These formats brought in £160 billion, which is 11% of the total export sales.
Looking at the individual markets, the US takes the lead when it comes to UK TV exports. In 2020, the USA spent £466 million on content. In terms of profitability, North America topped the list with £572 million in revenue. Canada and Australia are among the many countries with English-speaking viewers that appreciated Britain content. These export markets have remade the formats and gained economical backing from the Britain shows.
France and Nordic are some of the export markets for UK TV content. Each spends £102 million and £ 77 million on these export sales. These are a few of the nations with a non-English speaking audience that still enjoys watching UK TV shows. Latin America has increased its UK TV exports by 13%, while Asian markets have raised their export of the same by 15%. These markets may have upped their UK TV exports due to the availability of streaming services.
For instance, in the Asian market, China has Bilibili, while the Latin American market uses GloboPlay from Brazil. Independent shows now have avenues to access audiences that were previously inaccessible because of market censorship.
Prospects for UK TV Exports
Europe is still among the biggest export markets for UK TV content. However, due to the Brexit aftermath, this may change in the years to come. In part, this change has begun taking place as the EU seeks ways to lover the dominance of UK TV content in Europe.
EU hopes to use this strategy to promote diversity of culture and allow countries with smaller shows to flourish within Europe. Additionally, UK can use this opportunity to build bridges with Asian, Latin American, and US export markets. GloboPlay and ITV Studios have made a landmark agreement to allow UK shows to air for upwards of 400 hours. GloboPlay is an on-demand video subscription from Brazil with over 20 million users.
In the history of television viewing, football has always attracted viewers internationally. British players have graced some of the most remarkable football leagues worldwide. As a result, some are the highest paid footballers in the game. A few of these players include David De Gea from Manchester United, Raheem Sterling from Manchester City, and Mohamed Salah from Liverpool. For every season, they earn £19,500,000, £15,600,000, and £10,400,000 respectively.