U.K. trade organization Pact released the results of a survey regarding the impact of the COVID-19 pandemic on the British indie production sector Friday (April 17), with members reporting average losses of £2.6 million (around C$4.55 million) per company.

Those losses, resulting from cancelled or postponed productions, amount to more than £250 million ($438 million) overall.

Of the 100 respondents surveyed, 21% said they either had no reserve or expected reserves to last for a maximum of two months. Overall, 61% said that they expect reserves to last for a maximum of six months.

When asked about research and development, 58% of indies said that they would be scaling back on those efforts, with half of those scaling back “significantly.”

Despite the grim outlook, 61% said they had current commissioning opportunities in the U.K., and 29% had international commissioning opportunities.

Respondents were split, Pact reported, on whether the government is providing the “right level of support,” with 41% saying “yes” and 41% “no.”

On a scale of one to 10, indies surveyed reported the Job Retention Scheme was a six in terms of how helpful it would be for their company, and the one-off £10,000 grant was rated a 3.5 on the same scale.

Just 30% of the members said that their non-U.K. revenues would help them through this crisis, with 37% of respondents having no non-U.K. revenues at all.

“The survey shows the worrying financial impact this crisis is having on our members and particularly smaller indies,” Pact CEO John McVay said in a statement. “It’s encouraging that broadcasters are still commissioning, although it remains to be seen how their smaller budgets impact on revenues during the pandemic.”

In Canada, the COVID-19 task force – a group set up to assess the economic impact of the production shutdown – has undertaken a survey to measure the cost to domestic companies. The group includes CMF, CMPA, Indigenous Screen Office, Telefilm, Association of Provincial and Territorial Funding Agencies (APTFA), Association québécoise de la production médiatique (AQPM), City of Toronto Film Office, Creative BC, NFB, Ontario Creates and SODEC.

This story originally appeared in Realscreen