Servy emphasized that commissioning volumes, despite recent adjustments, remain robustly above pre-COVID levels, signaling a "new norm" for the industry. While Western Europe saw a 6% dip in premieres over the past 12 months compared to the peak of 2022, this figure still represents an impressive 18% increase over 2018. Scripted content has experienced a more pronounced slowdown, decreasing by 17% from two years ago, but it too remains slightly above 2018 figures. These regional data points, notably, exclude global streamers.
A key takeaway from Servy's presentation was the enduring strength of Europe's public service broadcasters. Groups like France-Germany's RTL, Dutch NPO, and the BBC in the UK continue to be vital stabilizing forces, ranking among the top three commissioning groups in Europe over the last year. Globally, however, Netflix stands as the undisputed leader, having launched over 600 new and returning series in the past year alone.
The shift in strategy for Subscription Video-On-Demand (SVOD) platforms was a central theme. While they are increasingly exploring ventures in sports and digital creations, their commitment to classic commissioning remains substantial. SVODs have seen an 18% decrease in commissions compared to their peak in 2022, but this figure is still a remarkable 69% higher than 2020 and a staggering 250% above 2018 levels. Servy highlighted that while restricted commissioning (in-house) by SVODs globally peaked in 2022 and is now seeing a decrease, it still accounts for a superior volume (55%) compared to unrestricted commissioning (45%).
A significant geographic shift in production is evident, with global streamers increasingly producing content outside the US. On average, 35% of their first-person commissions are produced internationally. Europe remains SVODs' primary production market, accounting for 40% of non-US productions, with the UK and Spain leading the charge in local originals. Notably, Spain has emerged as the leading non-English-speaking territory for streamer original productions – a testament to Europe's diverse creative landscape.
Genre Trends and Creative Drivers in Europe
Drama continues to reign supreme in Europe, as it does globally, making up approximately 30% of all new and returning premieres over the past four months. This encompasses various sub-genres like general, family, and relationship dramas. Uniquely European trends include a higher proportion of family fiction (22% of new and returning fiction in 2024, above the global average) and a significant presence of detective series, which represent 22% of the total, far exceeding the global average. Thrillers, particularly true-crime dramas, have seen substantial growth, rising by 233% since 2018, indicating a burgeoning interest in this sub-genre. Kids' content, while a strong asset for Europe, is experiencing increased licensing activity rather than significant new productions.
Servy identified three key creative drivers in Europe:
Rise of Co-productions: Representing 17% of new and returning series in Europe (compared to 11% globally), co-productions are a growing trend.
Fiction Based on True Stories: Including true crime and historical events, these productions have nearly doubled in six years, now accounting for 11% of new and returning shows.
Fiction Based on IPs: Adaptations of books are by far the most popular, with movies, podcasts, video games, and TV reboots also contributing. This trend is in line with a general global increase, and notably, 50% of new and returning fictions in Europe this year were book adaptations, a higher ratio than the rest of the world. An interesting footnote from a European Observatory report stated that 88% of scripted adaptations for TV and platforms over the past eight years were based on original European works, underscoring the strength of Eurocentric IP.
The Dynamics of the Formats Market
The formats market, a historical strength for The WIT, revealed interesting shifts. The weight of brand-new format adaptations is decreasing, with the market leaning more towards returning series of successful formats and the utilization of classic formats. While new adaptations accounted for a modest 3.6% of all new shows (including documentaries), returning format adaptations held a more substantial 7.7% of premieres, indicating a stronger appetite for established concepts.
Latin America is currently the most format-oriented region globally, with formats making up 10% of new shows. However, Western Europe remains the leading market by volume, responsible for 41% of all new adaptations launched.
A clear distinction was drawn between scripted and unscripted formats in Europe. Scripted formats overwhelmingly dominate, comprising 88% of all adaptations launched this year, compared to a global landscape where scripted formats have gained more traction (around 23%). Unscripted formats, however, continue to drive demand, accounting for nearly 40% of all adaptations. The "reboot effect" is particularly pronounced in unscripted, with 8.8% of adaptations being reboots of older formats, quadrupling since 2021.
Servy highlighted three top-performing unscripted formats in Europe this year:
The Floor: This ambitious, high-visual, primetime game show is also the top format worldwide, with 20 adaptations already in total. It is the most successful post-COVID format after The Traitors.
The A-Talk: a French-backed format where celebrities are interviewed by journalists with autistic disorders, it has seen five adaptations in major territories including the UK and the Netherlands.
The Golden Bachelor (Senior Spin-off): A great example of a reality format that reinvented itself, this spin-off centered on seniors has found success in the US, France, Italy, Germany, and the Netherlands.
Despite a market seemingly reluctant to embrace entirely new formats, freshness remains a key factor. 38% of new adaptations were based on formats created within the last five years, and 17% on formats born since 2004, underscoring the importance of recent innovation.
Looking ahead, European commissioners are expected to focus on three main genres:
Reality Competitions: Particularly those with mysterious elements, exemplified by The Traitors.
High-Visual, spectacular game shows: The Floor and The 1% Club, with new contenders like 99 Beat and Quiz with Balls entering the Spanish and Portuguese markets.
Epic Adventure/Premium Adventure: featuring increasingly grueling challenges, such as The Box and The Summit.
Commercially, three trends are shaping concept and production: creative partnerships and co-productions, the integration of AI and the "upcycling" of big creative ventures through spin-offs and reunion shows.
Top Formats, Distributors, and Exporters
In the realm of distinctive formats in Europe, non-European formats are leading the charge, with the Australian comedy No Activity and the Israeli thriller Your Honor at the forefront. Psychological thrillers and sci-fi dramas also feature prominently. Thrillers, in particular, hold a special place, representing 32% of scripted adaptations, significantly above their general universe ratio, due to their versatility and cross-cultural appeal.
When it comes to distribution in Europe, Banijay is the undisputed leader, accounting for 14% of new adaptations. MasterChef and its spin-offs are among its top sellers. All3Media and BBC Studios share second place, each with 9.9%, followed closely by Warner Bros. and ITV Studios. While the market appears concentrated, Servy noted that smaller distribution companies can find success, citing examples like can't stop media, Primitives and Seafood.
The UK remains the top exporter of formats in Europe, generating nearly 24% of adaptations with 42 different formats. The US follows with 18%, and the Netherlands holds its historical position as the third-largest exporter, notably generating a high number of new post-COVID successes like The Traitors and The Quiz with Balls. France and North Africa are also significant players. Western Europe collectively remains the number one origin area for formats, accounting for 67% of applications based on Eurogram formats.
Finally, the presentation highlighted the growing importance of global streamers as format importers. They collectively adapt more formats than any single country, with half being in-house and half being third-party. This underscores their strategy of rolling out successful formats across multiple markets. Amazon Prime Video and Netflix are now the top traditional format acquirers worldwide, preceding conventional broadcasters. Spain's position as the second-largest importer further reflects the increasing fluidity of the market, with strong traditional exporters like the Netherlands and the UK also keen on acquiring new formats for their domestic markets.
