ITV Studios gross sales boss Ruth Berry has referred to as 2024 a “bittersweet” 12 months for worldwide TV drama, with an “incredibly creative successful” 12 months tempered by “perfect storm of macroeconomic challenges.”
In a dialog through the Lille Dialogues session at Series Mania, the ITVS President of Globl partnerships and Zoo5 pointed to ITV’s manufacturing arm launching the likes of Fool Me Once, Until I Kill You, After the Flood, Mr Bates Vs the Post Office and Ludwig – the latter of which has offered to 85 territories – as examples of the inventive increase and of the biz remaining in “rude health.”
However, “What we noticed final 12 months was an ideal storm of macroeconomic challenges that had been inflicting individuals to consider what they had been programming, who their key viewers was, who the important thing advertisers they wanted to draw to their broadcast enterprise.
“When that occurs you do have to have a look at your content material technique. How a lot must you be making, how a lot must you be shopping for in and what it’s you really need. Streamers had been attempting to be extra worthwhile, broadcasters had been grappling with promoting issues and there have been numerous issues taking place without delay which meant individuals needed to take inventory round what they had been doing.
“It felt bittersweet last year, with so much creative success, yet it felt that the headwinds were a bit stronger.”
Berry famous the cashflowing had turn into a giant subject for scripted TV over latest years. “One of the toughest challenges for drama is the time lag,” she mentioned. “It can often be up to two years between greenlight and us taking it to market. That lag has been what has been really hard for the latest few years, which is why people are migrating to a safer sweet spot that mitigates the risk.”
This week’s Series Mania has introduced into sharp focus the dearth of American co-production or co-commissioning cash within the European market, with a lot of the chatter on how producers, networks and streamers can pool sources to make new reveals. Broadly, the consensus has been with Berry’s evaluation, that European creativity is a powerful place proper now, with the financing aspect much less steady.
However, she struck a optimistic tone for 2025, saying: “I’m an optimist, it feels like theres more buoyancy in the market. We launched some great shows at the London TV Screenings a few weeks back and it feels like the market is picking up.”
Elsewhere within the dialog, Berry talked up ITVS’s new digital enterprise, noting how content material round legacy broadcast manufacturers equivalent to Love Island, I’m a Celebrity Get Me Out of Here! and The Voice are driving audiences on-line.
In January, it was reported ITV was in early stage talks with All3Media’s mother or father, RedBird IMI, about merging their manufacturing property. TF1, which owns Studio TF1, and Formula One proprietor CVC Capital Partners have additionally been talked about within the dialog.