Europe accounts for just 12% of the revenues among over 70 entertainment companies with revenues of more than billion euros. Over 70% of the revenues are for companies in the United States. These are some of the figures from the latest annual Key Trends report from the European Audiovisual Observatory.
In 2024, the average European citizen aged four years or over watched around three-and-a-quarter hours of television a day, although that varies by country, from a couple of hours in some countries, like Sweden, Norway, and the Netherlands, to over four hours and 50 minutes in Portugal, Servia and Hungary.
After a temporary rise during the coronavirus pandemic, average television viewing time has declining by 4% each year, down by 6% in 2024. In some counties it over 10%, including the United Kingdom.
Global online video services now account for almost a quarter of all audiovisual service spending on European programming other than news and sport, up from 8% in 2020.
The European audiovisual market was worth around 142 billion euros in 2024, with consumer spending accounting for over half of that, 27% coming from advertising, and public funding accounting for around 22%.
The advertising market is evolving, as online video subscription services now offer cheaper tiers supported by advertising, free advertising-supported services take off online, and video sharing platforms attract advertising spending that was previously allocated to television.
Online video subscription services now account for around 60% of all television subscriptions. The market is maturing, with growth now coming more from increased prices and additional advertising revenue than by expansion of the subscriber base.
Broadcasters face greater competition. Connected televisions enable more targeted advertising but also risk losing a direct relationship with viewers. Public broadcasters may be more willing to reach viewers wherever they are, even at the expense of losing control over distribution and the boundaries of their remit.
While single films and series are often referred to as audiovisual works in policy terms, they have different financial models. Overall, the production of theatrical films continues to increase in Europe, while the volume of episodic productions in Europe decreased for the second year in a row.
The Key Trends report provides a narrative summary overview. An online Yearbook published each November is available by subscription, with 400 tables and over 40 country profiles.