Clerkenwell Films, the production company behind Baby Reindeer, has reported a pre-tax loss of £1.5m for the year ending 31 March, 2025, a significant downturn from the previous year's pre-tax profit of £2.7m.
The company's turnover also saw a sharp decline, dropping from £6m to £1.9m over the same period, according to newly filed accounts at Companies House, as reported by .
Baby Reindeer, which was released on Netflix in April 2024, garnered substantial viewership and critical praise.
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In addition to Baby Reindeer, Clerkenwell Films' portfolio includes The End of the F***ing World, Somewhere Boy, Cheaters, The Dig, Truelove, Misfits and Lovesick.
The London-based firm, founded in 1998 by producer Murray Ferguson and actor John Hannah, is currently working on The Death of Bunny Munro and Alice and Steve.
Since 2021, BBC Studios has held full ownership of the company.
Baby Reindeer maker faces tough TV market
However, the television market remains challenging for the maker of Baby Reindeer.
This follows reports from City AM that All3Media, the production giant behind shows such as The Traitors, Race Across the World and Gogglebox, saw its losses surge as revenue fell by nearly £100m.
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All3Media reported a pre-tax loss of £113.5m for 2024, following a loss of £27.8m in 2023.
Companies House filings also reveal that the group's revenue dropped from £995.1m to £895.9m over the same 12-month period.
All3Media has reported a drop in revenue due to "softer demand in a challenging market."
City AM revealed last month that a company managed by the new co-producer of the James Bond franchise entered into deficit before commencing work on the new Harry Potter TV series.
London-based Heyday Television reported a pre-tax loss of £2.8m in 2024, following a pre-tax profit of £281,000 in 2023.
The company also experienced a significant decrease in turnover from £45.4m to £18.5m.
However, Voltage TV, which is also owned by BBC Studios like the producer of Baby Reindeer, has reported an increase in its turnover for the most recent financial year.
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The company, known for shows such as Inside the Factory, posted a turnover of £14.2m for the 12 months to 31 March, 2025, up from the £8.9m it achieved in the previous financial year.
The firm's pre-tax profit also rose from £905,415 to £2.5m over the same period.