- Film producer Karim Morani surrenders in rape case
- Ryan school murder case: CBI team reaches school, starts probe
- Karti closed many foreign accounts, shifted money: CBI
- Pakistan shells border posts, hamlets in J&K; BSF jawans among 7 injured
- Sushma Swaraj raises issue of terrorism, H1-B with US Secretary of State
Pact US to launch later this year
MUMBAI: A new trade association representing the commercial interests of UK and US TV producers will launch in the US later this year, Pact UK announced.
Speaking at the Realscreen Summit in Washington DC, Pact UK CEO John McVay said, “Pact will be making a major investment to launch Pact US this year. In an ever globalised industry – and with the US being the single most lucrative market for commissions outside of the UK – we want to make sure that we can deliver services to support both British and US TV producers in the USA”.
Pact will shortly begin the recruitment process to employ executives on the East and West Coasts to provide the required support and infrastructure. Updates will be made available on the Pact US website: www.pact.us
Why the US?: Over the past few years there has been rapid growth in the number of original commissions for UK independent production companies in the US market. Outside of the UK, the US has established itself as the main secondary sales and commissioning market. In 2013/14, 100 per cent of all commissions outside of the UK came from the US, while 30 per cent of UK indies’ revenues also came from the US.
US programmes such as ‘I Wanna Marry ‘Harry’ (Zig Zag), ‘Midnight Feast’ (Nerd) and ‘Black Ops’ (World Media Rights) have all been produced directly for US audiences, and the Realscreen Summit is a key market for UK producers looking to sell their ideas to US broadcasters, with over 50 UK companies attending this year.
The US market for UK exports is also continuing to grow with sales up more than 10 per cent to a total of £523 million in 2013/14, representing 47 per cent of all export revenue. The US is also the UK’s strongest export market for co-productions, sales of digital rights and DVDs.
Pact UK chair Sara Geater said, “Pact is a trade association whose membership has huge success creating content and conducting business globally. Pact played a key role in enabling that success so it makes sense for us to offer all producers in the USA our experience, and to build a trade body which reflects the interests of the ever widening global industry”.
Pact plans to have its recruitment and office locations established by the summer. Further details will follow throughout the year.