Göteborg 2025 - Göteborg Industry
Industry Report: Series
Frenemies no more: European drama leaders redefine co-financing for a challenging market at Göteborg
As budgets tighten and competition intensifies, leaders from Europe’s television industry gathered at TV Drama Vision to explore innovative co-financing models and collaborative opportunities

At this year’s Göteborg TV Drama Vision, a panel of prominent figures from Europe’s television production and financing sectors took the stage to discuss the challenges and opportunities in the ever-evolving world of co-production. Moderated by Marike Muselaers, head of International Financing and Co-production at Nordisk Film, the panel explored ways to adapt to a market defined by economic pressures, shifting audience demands and the need for sustainability.
Muselaers opened the session by emphasising the need for "new alliances" in the industry, setting the tone for a candid conversation about collaboration. The panellists wasted no time outlining the stark realities facing European drama. Nathalie Perus, general manager of Atlantique Productions, described a contracting market that presents both risks and opportunities. For Perus, this environment is a call to action: “We need to create a bigger European market where broadcasters and producers can collaborate on ambitious projects without being limited by national borders.” She proposed a centralised platform where European broadcasters could collectively evaluate and fund projects, a move she believes would mitigate financial risk and reduce inefficiencies.
Timo Argillander, managing partner at IPR.VC, highlighted the role of private equity in filling funding gaps for co-productions. Rather than backing individual projects, IPR.VC invests in portfolios, allowing them to spread risk across multiple productions. He also encouraged producers to think beyond simply securing funds, advocating instead for partnerships that add creative and strategic value to a project. “It’s not just about filling the budget gap,” Argillander said. “It’s about asking, ‘How can we create something new together?’”
Jasmin Maeda, SVP of International Fiction at ZDF, brought a public broadcaster’s perspective to the conversation and underscored the importance of joint ventures like the European Alliance and New8 Alliance, which pool resources to support high-quality co-productions. While these partnerships have proven effective, Maeda stressed the need for greater flexibility and adaptability in the face of mounting challenges. “We need multiple answers to multiple questions,” she said, pointing to political, financial, and creative hurdles that require tailored solutions. She also noted the growing importance of reaching younger audiences, a demographic increasingly drawn to digital platforms and creator-driven content.
For Alex Trăilă, programme manager at the Council of Europe’s Pilot Programme for Series Co-Productions, the programme offers a model for fostering cross-border collaboration as it has supported a diverse array of projects, from the Finnish-Irish animation Stories from Backwoods, to the Estonian-Latvian-Italian drama Detective von Fock. Trăilă emphasised the importance of creative exchange between co-producing countries, arguing that true collaboration extends beyond financial contributions. “We want to see creative input at every level, whether it’s in storytelling, directing, or development,” he explained. Trăilă also highlighted the untapped potential of Central and Eastern Europe, regions he believes can bring fresh talent and perspectives to the European drama landscape.
The panel also explored the role of impact equity and brand partnerships in financing. Perus shared Atlantique Productions’ efforts to engage luxury brands and foundations, particularly for projects with strong societal themes. One example is Pegasus, a series about global phone surveillance scandals, which has attracted interest from impact equity funds. These funds prioritise projects with both financial and social returns, offering a new avenue for producers tackling timely issues.
Argillander noted that sustainability and diversity are increasingly important considerations for investors. IPR.VC, for instance, prioritises projects that align with environmental and social goals, such as reducing carbon footprints and promoting gender diversity in key roles. “These values are embedded in everything we do,” he said, reflecting a broader shift in the industry toward responsible investment.
Despite these promising developments, the panellists acknowledged significant challenges. The lack of a unified European market for co-productions remains a barrier, as does the reluctance of some broadcasters to collaborate on projects with complex financing structures. Perus suggested that the TV industry could learn from the film sector, where multiple investors routinely back single projects. Trăilă added that diversifying content is key to reaching wider audiences, emphasising the importance of stories that resonate across cultural and linguistic boundaries.
As the session drew to a close, Muselaers challenged the panellists to think about how they could drive meaningful change in the industry over the next year. While specific plans were left unresolved, the discussion underscored the potential of collaboration to reshape the European drama landscape. For the panellists, the future of co-financing lies in forging partnerships that transcend traditional boundaries, leveraging new funding models, and embracing the creative and cultural diversity that defines European storytelling.
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