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 Yesterday.
John McVay, Pact UK’s chief executive, said: “Pact will be making a major investment to launch Pact US this year. In an ever globalized industry—and with the U.S. being the single most lucrative market for commissions outside of the U.K.—we want to make sure that we can deliver services to support both British and U.S. TV producers in the USA.”
Pact plans to have its recruitment and office locations established by the summer, with employees on the East and West Coasts.
According to Pact, over the past few years there has been rapid growth in the number of original commissions for U.K. independent production companies in the U.S. market. Outside of the U.K., the U.S. has established itself as the main secondary sales and commissioning market. In 2013-14, 100 percent of all commissions outside of the U.K. came from the U.S., while 30 percent of U.K. indies’ revenues also came from the U.S.
Sara Geater, the chair of Pact UK, commented: “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.”