The UK’s scripted content industry faces a funding crisis, exacerbated by a reluctance from U.S. streamers to co-produce with British broadcasters. This was highlighted by Peter Kosminsky, director of the acclaimed series ‘Wolf Hall,’ who revealed that Mark Rylance, the lead actor, took a significant pay cut to enable the production of Season 2 after streamers declined to co-produce. Kosminsky, along with the producer and writer, also accepted reduced fees to get the show made. The series, which took ten years to develop, reflects a broader issue where U.S. streamers prefer to wholly own projects rather than co-produce. Kosminsky proposed a solution: a 5% contribution from UK subscription revenue of streaming giants like Netflix and Amazon Prime Video to a cultural fund for British content. This model, already implemented in 17 other countries, could help fund UK series that struggle to secure full financing. He argues that this contribution would not deter streamers from producing in the UK, as decisions are based on cost, facilities, and talent preferences.
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