The European Audiovisual Observatory introduced its comprehensive Yearbook 2023/2024 – Key trends report in the first day of Series Mania Forum, shedding light on the Pan-European media landscape encompassing television, cinema, video, and video-on-demand services.
The report highlighted the significant increase in the number of produced series, with 873 featuring fewer than 13 episodes in 2022 compared to 775 the previous year. Interestingly, this surge in shorter-format series production coincides with a decline in overall series production in the United States last year, raising questions about potential market shifts that could impact Europe.
Additionally, the report noted a decrease in the number of European films commissioned by streamers in 2023, dropping from 80 in 2022 to 69. This trend contrasts with the continuous growth observed since 2017, prompting concerns about the sustainability of the production boom amidst uncertainties surrounding broadcasters’ programming spending and the profitability of streaming platforms.
Despite these concerns, European production remains robust, with an average of 23,000 series episodes produced annually. Public broadcasters commissioned 55% of fiction titles in 2022, followed by private broadcasters at 32%, and streamers at 12%. Notably, Netflix and Amazon accounted for the majority of original European titles streamed, with 62% and 20% respectively.
Moreover, there’s a geographic concentration of series purchased by streamers, with Spain, the UK, France, Italy, and Poland being the top contributors. Traditional broadcasters also play a significant role, particularly in the UK, Germany, France, and Sweden.
While European content received a substantial financial boost of 21 billion euros in 2022, with 24% coming from streamers, concerns linger about the recent pullback in financial engagement by certain American streamers in non-national production. Whether this slowdown is temporary or indicative of a broader trend remains uncertain, but it underscores the need for cautious optimism amid a period of exceptional growth.
