Global Landscape - A Time of Extraordinary Change
Global
Driven by insatiable consumer appetite and significant investment, screen production of feature-length films and high-end television series has increased exponentially around the world in recent years. In 2019 global expenditure on screen production reached an estimated $177 billion, according to Global Screen Production – The Impact of Film and Television Production on Economic Recovery from Covid-19 (Olsberg SPI, 2020).
This new high watermark would very likely have been exceeded in 2020 given that trends in rising production volume and value were ongoing, had the Covid-19 pandemic not dramatically impacted production worldwide. Screen production is now a key economic driver in a large number of countries and jurisdictions.
The economic impact of the screen sector globally cannot be overstated. The Olsberg SPI report highlights both the significant growth of screen content globally and the important role the industry can play in the global recovery. The capacity of the screen industry to drive economic recovery, as a “robust, resilient and fast-acting” sector, emphasises the importance of continued investment in and support of the screen industry as we continue to recover from the pandemic.
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$177 billion
2019 Estimated global expenditure on Screen Production |
14.2 million
Jobs estimated to be supported by the global screen sector value chain |
$414.0 billion
Estimated total economic impact of the global Screen Production sector in 2019 |
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The shift to on-demand streaming platforms was already impacting the industry in a significant way prior to the global disruption caused by the pandemic to production, distribution and consumption models. The pandemic has greatly accelerated the ongoing transformation in the industry and how that will resolve is not yet clear. This pace of change is difficult to navigate with many different national regulatory approaches being pursued in response to the issues that have arisen from global streaming competition. Nations are examining how to ensure cultural diversity is preserved and how local industries and cultural identity can be protected.
Digital disruption and the evolution of emerging entertainment technologies is also moving at pace globally. Although storytelling remains at the core, next-generation audiences increasingly look to experience, interact and direct those stories. Recognising and responding to these developments remains a priority for global competitive advantage.
Europe
The disruption across the European audio-visual landscape has highlighted the preservation of European cultural diversity as a key priority across member states. Significant developments include opportunities presented by the Audiovisual Media Services Directive (AVMSD) which includes potential new funding streams for European works and important obligations on on-demand media services to secure at least 30% share of European works in their catalogues, ensuring the prominence of the same. The EU Directive on Copyright in the Digital Single Market also presents significant opportunities to benefit the protection and exploitation of intellectual property derived through creative screen production in Ireland.
