The Good News For TV Drama Producers Is That The Bad News Might Be Over: Global Content Spend Tipped To Return To Growth in 2024
deadline.comThe bad news might be over…. and at this point that counts as good news for the global TV drama business, analysts say. Laying down the facts at the Berlinale Series Market, Ampere Analysis’ Richard Broughton declared that overall spending on TV content will increase this year after stalling in 2023. “This is particularly good, well not bad, news for drama, which has felt the brunt of spending cuts,” he said.
Overall global content spend, including sports rights, was flat last year at $243 billion, Ampere said. Drilling down into total shows, drama was hit particularly hard – the number of commissions in the last three months of 2023 fell between 30-40% on the peak in the fourth quarter of 2020.
But drama execs were instructed not to abandon hope. Ampere is forecasting an uptick in global content spend in 2024, taking the total to $247 billion.
That includes original shows, acquired product and sports rights. Globally, Broughton said, broadcasters are accounting for a greater proportion of first-run commissions as the SVoDs cool their scripted spending.
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