Innovation in the UK Television industry to drive significant growth in audiences and revenues

Published at 00:01 AM on 28 September 2016

ICAEW and PwC have today published a joint report called ‘UK Television in Focus’, which highlights the substantial investment and volume of deals in the sector, which are being fuelled by new digital technologies, fast-changing consumer trends and big changes in the international environment.

PwC forecasts the global television market will be worth $325bn in revenues by 2020. In this context, the UK is regarded as a world leader and a significant exporter of ideas, content, and both technical and creative talent. Spearheading this is the BBC, which acts as the ‘investment arm’ for UK culture and creativity.

According to interviews with senior industry figures, UK television companies are adapting quickly to new content, platforms and changing viewing patterns around the world. In order to drive sustainable success they need to maintain clear focus on pairing creativity with business acumen, and securing the skills and finance to develop engaging creative ideas.

Phil Stokes, Entertainment & Media Lead at PwC said: “British television - always international in its outlook - is becoming even more so, with an increasing amount of high quality content gaining global recognition and creative awards. As sources of funding evolve, the industry is adapting constantly and will need to combine financial leadership, skills and professional advice alongside great programme ideas in order to strengthen investment.”

David Petrie, ICAEW’s Head of Corporate Finance, said: “Television is a big sector for international deal flow. It is one where Britain’s reputation and expertise mean that it’s developed world-beating production companies. Corporate finance will play a key role in future success stories.”

Ends.

Notes to Editor:

UK Television in Focus can also be downloaded from icaew.com/television

About ICAEW:

  1. ICAEW is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. We provide qualifications and professional development, share our knowledge, insight and technical expertise, and protect the quality and integrity of the accountancy and finance profession.
  2. As leaders in accountancy, finance and business our members have the knowledge, skills and commitment to maintain the highest professional standards and integrity. Together we contribute to the success of individuals, organisations, communities and economies around the world.
  3. Because of us, people can do business with confidence.
  4. ICAEW is a founder member of Chartered Accountants Worldwide and the Global Accounting Alliance.

About PwC:

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. Find out more and tell us what matters to you by visiting us at www.pwc.com

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure  for further details.

©2016 PricewaterhouseCoopers. All rights reserved.

For more information please contact:

ICAEW: contact Laura Hindley, ICAEW press office, on 0207 920 8564 or email [email protected]

PwC: contact Stephen Young, PwC press office, on 02072133645 or email [email protected]


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About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved

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