Indies battled crew shortages, post-lockdown burnout and tightened budgets but collective revenues grew slightly in 2021, according to Broadcast’s annual Indie Survey.
The 125 indies reporting figures to the magazine delivered a combined £2.4bn in turnover, up from an equivalent £2.1bn in 2020.
Of the 98 companies who submitted data in both years, revenues rose from £1.9bn to £2.1bn.
The survey reflects a year of adjustment after 2020’s lockdown and many companies, particularly in the regions, described operating leaner, more flexible workforces working remotely and enjoying improved access to commissioners.
Respondents are optimistic about the future, with two-thirds saying their prospects for 2022 are better than last year, and only 4% believing things would get worse.
But stories of burnout were rife.
As one producer puts it: “2021 was a much tougher year than 2020 in many respects. At the start of the pandemic, there was a lot of adrenaline and creative energy around problem-solving. People felt we were all pulling together to get production back on track.
“In 2021, as burnout and exhaustion crept in, people felt jaded – at all levels of production. There was much more resentment and cynicism.”
Falling margins was indies’ biggest concern, cited by 55%, with 47% saying that securing crew is a major challenge.
Production managers are the hardest to find, cited by 91%, followed by editors and series producers (each mentioned by 66%).
The top two places in the survey’s ‘Peer Poll’, which asks indies to rate the companies they respect the most, remained the same, with The Tinder Swindler producer Raw TV leading the way, followed by This Is Going to Hurt indie Sister.
Both enjoyed strong years, with Raw the fourth-biggest indie by turnover (up 41% to £82m) and Sister up from £3.9m to £26.1m on the back of a strong slate of commissions.
US-owned sports producer IMG, which previously topped the survey, withdrew from the report, making Taskmaster producer Avalon the UK’s biggest indie, with revenues steady at £143.3m.
Second-placed Objective Media Group grew revenues by two-thirds to £110.1m, followed by Left Bank Pictures on £94.1m.
Fast-growing companies included Death in Paradise producer Red Planet Pictures, which was recently acquired by French firm Asacha Media Group. It posted a 230% growth in turnover to £49.2m.
Sharon Horgan's Merman Productions leapt from £6.5m to £30.7m, with The Tourist producer Two Brothers Pictures making a similar jump from £6.4m to £32.2m.
Channel 5, which is celebrating its 25th birthday, was voted strong broadcaster in terms of branding, identity and output, with Channel 4 deemed the weakest.
Channel 4 was also named most difficult broadcaster to deal with, but – as is often the case with a broadcaster that is entirely dependent on third-party suppliers –also tied with the BBC for best broadcaster with which to do business.
Read the report here
