Music: Streaming

The UK’s independent production sector plays a vital role in our world-leading creative economy. We recognise that the current market is challenging for many independent producers, which is why we are providing support though a generous 53% tax credit for independent production; through scaling up the UK Global Screen Fund from £7 million to £18 million a year so it can better support independent production, distribution and business development; and through a £150 million Creative Places Growth Fund for six priority areas to support their creative industries, for example by boosting their local screen ecologies.

Our Creative Industries Sector Plan also commits to removing barriers to growth by supporting better access to finance, including through increased support from public finance institutions such as the British Business Bank to increase the pool of debt and equity finance available to the creative industries, with a specific focus on IP-backed lending.

We want our film and TV sector to remain vibrant and dynamic, where production companies of all sizes can create, collaborate and invest in the UK. We have been clear that we do not believe that introducing levies or investment obligations on streamers is the right way to achieve this. We will however continue to engage with major streaming services, with the independent production sector and with Public Service Broadcasters on how best to ensure mutually beneficial conditions for all parties.