25 February 2019
Brand new updates to the PACT/Equity agreement, which covers all programmes made by independent production companies, came into force on 1 January. The agreement brings a raft of new benefits, including a 6% increase in all fees covered by the deal.
Unlike previous agreements there is now a fee uplift incorporated, meaning there will be an automatic yearly increase until the next renegotiation. A late payment clause has also been added, so if payment is not made in accordance with the agreement then interest can be claimed.
The TV landscape has been rapidly changing and has become almost unrecognisable since the agreement was last updated in 2015. TV organiser Claire Hood said, “All of us in Equity’s Recorded Media Department are delighted to have negotiated an agreement that now reflects the ever changing sphere of what has been traditionally termed TV content, but now encapsulates platforms such as Subscription Video on Demand. By doing this, the new agreement ensures that British TV programmes and performers are given a worldwide platform and receive felicitous remuneration. We have worked tirelessly to negotiate an agreement which reflects the true worth of our performers’ contributions to the industry yet remains up to date enough to reflect an ever changing industry.”
The full agreement can be found in the rates and agreements section.