Over 71% of audiovisual revenues come from television, the most robust media platform. Last year, the country saw a surge in productions for young audiences.
Full 2023 revenues topped £1 billion for the third consecutive year, representing a resilient performance in a year of significant advertising downturn. Digital revenues increased 10% to £280 million, accounting for 27% of total revenues.
The latest Pact Census revealed the sector experienced a contraction in 2023, coming from a record year in 2022, but remained above pre-pandemic levels.
Ampere’s research revealed as interest and engagement rise, shorter rights cycles, independent sales, and investments in production could unlock higher revenues in the next media cycle.
Streaming revenues increased 9% to $150 million, driven by year-over-year subscriber growth and price increases. In addition, advertising revenues decreased 11% to $149 million due to linear ratings declines.