Record third-party investment fuels PSB drama production levels

Third-party broadcasters and SVoDs are estimated to have invested a record £132m in PSB drama in 2022, up nearly 70% on 2018’s figure of £78m, according to new independent research published by COBA.

Analysis by media sector consultancy Oliver & Ohlbaum Associates shows this rise in third-party investment helped drive total PSB drama production to £809 million in 2022, up significantly from £581m in 2018.

Alongside crucial PSB funding, co-producer investment now accounts for an estimated 16% of total PSB drama production value, while producer equity and tax reliefs are worth 42%. Total third-party funding therefore accounts for 58% of total PSB drama spend, highlighting the vital role of both PSBs and non PSBs.

COBA Executive Director Adam Minns welcomed the report today.

He said: “PSBs and non PSB broadcasters and SVoDs all have a vital role to play. This mixed ecology is driving the sustained growth of the UK TV production sector, fostering the cross-fertilization of talent, building critical mass, and providing investment and jobs right across the country.”

About O&O

O&O is an independent advisory firm specialising in the media, entertainment and sports industries. With over 25 years’ experience, it has advised more than 200 public and private sector clients on the most significant developments in TV, film, audio, publishing, and sports markets.

O&O has extensive expertise in the UK and European TV production markets, having worked for producers, trade bodies, regulators, and investors on a broad range of production related issues. O&O produces the annual census of the UK independent production market, for Pact, and recently sized the UK production market as a whole, for regulator Ofcom.