Industry

The European Audiovisual Observatory, a branch of the Council of Europe based in Strasbourg, has unveiled its latest report titled “Audiovisual services spending on original European content – 2024 edition”. This comprehensive analysis sheds light on investments made by broadcasters and global streaming services in original European content across Europe. It offers valuable insights into the growth trends and spending patterns of both traditional broadcasters and global streamers operating within European territories.

The report reveals that total spending on European original content—excluding sports rights and news—amounted to EUR 22 billion in 2023. Although this marks a slowdown compared to the rapid post-pandemic recovery, European content investments continue to see moderate growth, particularly as global streaming platforms increase their focus on non-US content. This report defines Europe as including the EU27 nations, along with Albania, Armenia, Bosnia and Herzegovina, Iceland, Montenegro, North Macedonia, Moldova, Norway, Serbia, Switzerland, Türkiye, the United Kingdom, and Ukraine.

Global streaming services continue to be a major force behind the rise in European original content. The report highlights that streamers increased their spending by 34% in 2023, reaching a total of EUR 5.7 billion. While this growth rate is lower than the impressive 104% seen in 2022, it still demonstrates a sustained commitment to European markets. Streaming platforms accounted for 26% of all spending on European original content in 2023, a clear indication of the growing importance of Europe in global content strategies.

Among European nations, the United Kingdom and Spain stood out as leaders in attracting global streaming investments. Together, they accounted for 53% of the total spending by global streamers on original European content. Spain, in particular, saw over 50% of its original content investments coming from global streamers, with Italy and the UK also seeing high proportions of such investment.

The report also notes a slight decrease in the share of scripted programming in streamers’ overall spending on original content. However, scripted content continues to dominate, making up 80% of the total investment. Within this category, series hold a commanding share, accounting for 90% of streamers’ scripted content investments, while films make up only 10%.

As streaming platforms continue to diversify their global content portfolios, Europe is becoming an increasingly attractive market for original productions. The moderate growth seen in investments, coupled with streamers’ sustained focus on European series, reflects a broader trend toward localized and regionally diverse content production.

The findings of this report emphasize the crucial role that Europe plays in the global content landscape, with both broadcasters and global streaming services making significant investments in original works. As streaming giants continue to shift focus away from traditional US markets and prioritize non-US content, European original content is expected to maintain steady growth. The “Audiovisual services spending on original European content” report provides a vital snapshot of this evolving landscape, offering key insights for industry stakeholders.

For more detailed insights, the full report is available for download: “Investments in original European content – 2024 edition”.