Hat Trick Productions Returns to Profit with US Launch of 'Have I Got News For You'

What's Happening?

Hat Trick Productions, the company behind the popular UK panel show 'Have I Got News For You', has reported a return to profitability after launching the show in the United States. The company, which also produces 'Mastermind' and 'Derry Girls', recorded pre-tax profits of nearly £857,000 last year, a significant turnaround from a £377,000 loss in 2023. This financial recovery is attributed to the successful debut of a 10-episode series of 'Have I Got News For You' on CNN in the US, coinciding with the US presidential election. The company plans to air an additional 20 episodes this year. Despite the profit, Hat Trick's turnover decreased by 28% from £48.4 million to £35 million. The company also paid out an interim dividend of £1 million, with significant portions going to founder Jimmy Mulville and his wife.

Why It's Important?

The successful launch of 'Have I Got News For You' in the US marks a significant achievement for Hat Trick Productions, highlighting the potential for UK television formats to find new audiences abroad. This move not only boosts the company's financial standing but also underscores the growing influence of international content in the US television market. The profitability from this venture could encourage other UK production companies to explore similar opportunities, potentially leading to a more diverse range of programming available to US audiences. Additionally, the financial turnaround for Hat Trick may lead to further investments in new projects, benefiting the broader television industry.

What's Next?

Hat Trick Productions is likely to continue expanding its presence in the US market, potentially exploring additional series or formats that could appeal to American viewers. The company's financial recovery may also lead to increased production activity, both in the UK and internationally. Stakeholders, including investors and industry partners, will be closely monitoring the performance of the additional 20 episodes of 'Have I Got News For You' scheduled to air this year. The success of these episodes could solidify Hat Trick's position in the US market and influence future strategic decisions.