Ruth Berry, the head of sales at ITV Studios, described 2024 as a year of mixed emotions for the global television drama scene, celebrating immense creative achievements while also facing significant economic hurdles.
During her session at the Lille Dialogues, part of the Series Mania festival, Berry highlighted the launch of several successful series by ITV such as Fool Me Once, Until I Kill You, After the Flood, Mr Bates Vs the Post Office, and Ludwig, the last of which was sold to 85 countries. These successes underscored a vibrant period for the industry despite economic pressures.
Berry added that the previous year saw a convergence of economic factors that forced a reconsideration of programming decisions and target demographics, particularly concerning the attraction of key advertisers crucial for the broadcasting sector.
She explained, “This necessitated a strategic review of content — what to produce, what to acquire, and what is truly essential. Both streaming services and traditional broadcasters were reassessing their strategies to enhance profitability and tackle advertising challenges amidst a crowded and shifting market.”
Reflecting on the year, Berry remarked that it was “bittersweet,” with notable creative triumphs dampened by tougher economic conditions.
She pointed out that financing for drama had become increasingly challenging due to the prolonged periods between project approval and market launch, often spanning up to two years. This has led to a cautious shift towards more secure investments in the industry.
At Series Mania, discussions also focused on the reduced involvement of American funding in European projects, with many pondering how producers, networks, and streaming platforms could collaborate on new productions. The general consensus aligned with Berry’s view: while European creative output is robust, financial frameworks are more precarious.
Addressing the U.S. market, Berry noted significant upheavals influenced by the expanding streaming sector, evolving broadcast landscapes, and ongoing changes in cable TV. Despite these challenges, she affirmed that the demand for high-quality content remains strong, as evidenced by successful discussions around titles like the BritBox co-produced Ludwig.
Looking ahead to 2025, Berry expressed optimism about the industry’s prospects, citing the successful introduction of several new series at the recent London TV Screenings and a sense of market recovery.
Further, Berry discussed the burgeoning digital aspect of ITV Studios, emphasizing how digital extensions of established TV brands like Love Island, I’m a Celebrity Get Me Out of Here!, and The Voice were attracting significant online audiences.
She also touched on preliminary discussions between ITV and All3Media’s parent company, RedBird IMI, about possibly merging their production assets. Other major entities like TF1 and CVC Capital Partners were also mentioned as potential players in these talks, which are set to be a major focus in the TV industry this year.
Daniel Hayes is a business journalist with a focus on market trends, startups, and corporate strategies.
His sharp analysis and investigative reports make complex financial topics accessible to all readers.
