Markets

The “Key Trends in the TV and VOD Market” panel, presented by the European Audiovisual Observatory,  on Tuesday March 24 in Lille at Series Mania Forum, delivered a clear and data-driven picture of a European industry entering a phase of recalibration after years of expansion.

Featuring Agnes Schneeberger and Gilles Fontaine alongside Robert Franke and Synnøve Hørsdal, the session combined market data with on-the-ground production insight.

The key takeaway is a trend reversal in the European high-end TV market. After peaking in 2022, production levels declined in 2023, marking the end of a prolonged growth cycle. However, this shift is not simply a downturn—it reflects a structural change in how series are developed and financed.

One of the most significant transformations is the disconnect between the number of series and total production hours. While the volume of titles has remained relatively stable, the number of hours has decreased. This results in shorter seasons and fewer episodes, with the industry moving from traditional 10–13 episode formats toward 6–8 episodes, often with reduced runtimes.

From a global perspective, Europe showed stronger growth than the US during the boom years, followed by a less dramatic contraction, while American production declined more sharply. At the same time, streamers have continued to invest significantly in European content, confirming the region’s strategic relevance.

The panel also contextualized this shift within the broader transformation of the streaming economy. The previous surge in production was largely driven by aggressive, venture capital-fueled investment, as platforms competed for market share. That phase has now ended, replaced by a more cautious and efficiency-driven approach, accelerated by post-pandemic audience behavior and market saturation.

Producers highlighted how this new environment is translating into budget pressure and format optimization. Shorter series are not only more sustainable financially but also better aligned with changing viewing habits, particularly among younger audiences who are less inclined toward long, serialized narratives.

Despite the focus on streamers, the discussion reaffirmed that broadcasters remain the backbone of European production. However, both public and commercial broadcasters are facing increasing constraints: declining advertising revenues, audience fragmentation, and growing competition from global platforms and digital players such as YouTube. This is leading to more cautious commissioning strategies, with a tendency toward safer, more established formats.

The panel also pointed to the volatility created by rapid market expansion and contraction, citing examples such as the Nordic boom driven by major streaming investments, followed by abrupt slowdowns that impacted local ecosystems.

The overall conclusion was that the peak TV era in Europe has passed, but the market is not collapsing. Instead, it is entering a more sustainable phase where success will depend on targeted investment, stronger audience focus, and smarter distribution strategies.