Public Sector Media (PSM) are the largest investors in European audiovisual content, spending €18.2 billion a year.
Quoting the latest research report by its Media Intelligence Service (MIS) – PSM Investment in European Content 2017 – the EBU says that PSM have actually increased their investment in content by 6.8% over the last five years (2011-2015), despite a minimal 1.4% increase in their revenues.
It adds that PSM offers good value for money with investment in content representing 54% of total PSM operating expenditure. At the same time, the top ten European commercial broadcasters devote only 32.5% of their cumulated operating revenues to content creation.
Over 83% of PSM programming expenditure is devoted to original productions (in-house, commissioned or co-productions), meaning they spent over €15 billion directly on content creation in 2015. PSM TV organizations spend on average 31% of their programming budget on commissioned productions, making them key partners for the European independent production sector.
Commenting on the report’s findings, Roberto Suarez, head of MIS, said: “PSM expenditure represents a huge, sustained investment in the European audiovisual industry. But the benefits are not only economical. Quality content is also vital in ensuring European citizens are well informed about the world around them.
“It is essential that citizens can enjoy a wealth of locally produced content to reinforce national identities, promote democracy, enrich culture and foster shared values.”
