Britain's Brexit TV industry has been hit hard and has difficulty co-producing content with the EU

The impact of Brexit on the British television industry has not yet been fully realized. However, since Brexit will not officially take effect until two years later, changes in relevant agreements, laws and regulations, exchange rate during this period, especially the intentions of investors and advertisers, are unpredictable. This result is a heavy blow to the British television industry, which cooperates closely with the EU and is in an unprecedented period of development.

Original title: Referendum to leave the European Union The entire British television industry has been shrouded.

On the morning of June 24, local time in the UK, the results of the referendum on Britain's withdrawal from the European Union were announced, and the UK will leave the European Union. The British television industry responded to this result.

The Alliance of Independent Production Companies (Pact) quickly issued a statement expressing disappointment with the referendum results.

The group said it would make every effort to "ensure that current commercial interests are not compromised" for its member companies in the film, television, children and animation industries. Alliance Chairman Laura Mansfield revealed,"We will work closely with the British government to initiate negotiations on trade agreements with European countries as soon as possible and continue to exert influence on the parts of the EU's digital single market proposal related to the British film and television industry."

A survey led by Pact showed that 85% of its member companies voted in favor of Britain remaining in the EU. The general view is that content produced jointly by the UK and EU member states will face a more difficult situation.

Danny Fenton, CEO of ZigZag Productions, said,"In the medium to long term, no one knows what the full impact will be. But co-production with Europe will be more difficult, and EU development funding and all project support from the European Broadcasting Union are likely to disappear. The weight of markets in China, Canada, Latin America and Africa will increase. Another impact of Brexit on co-production is that English-speaking countries in the Commonwealth will become more popular co-production partners."

Don Taffner, president of DLT Entertainment, a distribution company with offices in the UK and the United States, believes that Brexit will bring short-term uncertainty, while the recession will have an impact on production budgets, advertising spending and content exports."There is no doubt that the entire industry will adjust to adapt to the new situation. But this requires the efforts of all relevant parties, including the government."

Alex Jones, co-general manager of Red Planet Films, revealed that he was very disappointed with the results,"It will take a long time to wait for the dust to fall. At present, what I am most concerned about is the impact of the British pound exchange rate on overseas production. Only time will tell the long-term impact. I hope to retain as much as possible the existing most important commercial exchanges and preferential treatment with the EU through consultation."

The areas that the market is most concerned about include changes in the quota system and tax rates, the impact on joint production between the UK and EU countries, and the UK's attractiveness to employees in EU countries. Experts predict that the country's television industry will face a series of difficult situations in the future.

Claire Enders, founder of media analyst firm Enders Analysis, said that the momentum of foreign investment will immediately slow, foreign capital will leave the UK for broadcasts to Europe, and acquisition activity of British media companies such as Independent Television (ITV) will also decrease.

"Creativity will not run out, but we will lose our best talent," she said. She was referring to the fact that many TV people will move elsewhere to better work in the European market.

Alex DeGroote, an analyst at investment firm Peel Hunt, pointed out that the referendum results will have a profound impact on the UK economy, and many impacts cannot be determined in the short term. Media with connections to the European Union are facing financing difficulties.

Howard Archer, chief UK and European economist at IHS Global Insight, said that two years of uncertainty will hit business and consumer activities hard, and the landscape of the British broadcasting business will also change significantly."Major economic and political uncertainties will severely hinder business activities, affect the confidence and behavior of local production industries, and slow down company investment, employees, and consumer behavior. Advertising activities will also enter a recession."

However, he believes that leaving the EU also has a positive side. The sharp plunge in the pound caused by the referendum may stimulate the export of British content.

Their counterparts were also very surprised by the result of Britain's departure from the EU.

The Independent Film and Television Alliance (IFTA), a multinational trade group, said the outcome of the UK's referendum on Brexit would have a "devastating" impact on the country's creative industries.

IFTA Chairman Michael Ryan said in an interview that Brexit will cause a "great blow" to the British film and television industry, and TV producers will face huge uncertainty."Making movies and TV programs is costly and extremely risky, so all transactions must be protected by clear laws and regulations. Today, producers no longer know whether new tax laws will be implemented when dealing with EU members and how to deal with co-producers, investors, and issuers."

Television content buyers in Northern Europe expressed extreme shock and disappointment at the results of the UK's referendum on Brexit. Some local television industry executives have described the referendum results as a "heavy blow to the British television industry."

Stephen Mowbray, head of purchasing department at Swedish Television (SVT), said,"TV content accounts for a large proportion of UK exports. I think other industries will be affected, and the British media will not be immune."

Editor: Nancy