Interesting Article - Post Industry in SOHO, United Kingdom

July 18, 2008

Source: Broadcast

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Negative equity, the credit crunch and an over-abundance of firms mean the long-expected consolidation of the industry seems to have begun.

The necessary shakeout in Soho's post-production industry has been talked about for years. Now, in the credit crunch era with the threat of recession looming in the UK economy, it may have finally arrived.

At least that's what is suggested by a spate of companies shutting up shop in recent months. The list of casualties began with Resolution in December, followed quickly by Frontier Post, M2, The Sanctuary, Videosonics, Noise London (re-formed as the United Audio Project) and most recently Pepper (now re-formed as Pepper Post 2008 Ltd) and TV Set/Beach74.

Bad as the news is, nobody seems particularly surprised. As Ascent 142 consultant Tom Jones declares: "Consolidation of this sort is inevitable. In the car industry you just wouldn't get 25 different car manufacturers."

Breathe general manager Dan Gable adds his own shopping analogy: "We'll end up with a few Tescos and a number of delis satisfying niche markets, but the corner shop will have all but disappeared."

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