At the EFM Industry Sessions, the topic of “Decoding the Newest Industry Trends and Shifts” was explored. Manuel Fioroni, film analyst at the European Audiovisual Observatory (EAO), opened the session by providing a comprehensive review of European theatrical performance in 2024. According to the preliminary figures, European cinemas sold an estimated 841 million tickets in 2024, a figure almost identical to 2023, reflecting a marginal 2% drop. This marks the first year since the pandemic that cinema admissions have remained stable, rather than showing growth.

Fioroni stressed that this stability suggests that the industry may have found a "new normal". Despite predictions about the demise of the theatrical experience, the results indicate that cinema has not only survived the pandemic, but remains robust. Nevertheless, the number of admissions in Europe is still about 25% lower than pre-pandemic levels, with 2017-2019 levels averaging 1.1 billion admissions per year.

The European Union, in particular, racked up 640 million admissions in 2024, which represents a 3% decrease from the previous year. Notably, the largest markets include France, with more than 180 million admissions, followed by the UK, Germany, Italy and Spain. These countries remain the dominant players at the European box office.

Fioroni also provided data on box-office revenues, which reached an estimated €6.6 billion in Europe, a 1% decline from 2023. When viewed in a global context, European cinemas represented just under 25% of the global theatrical box office, which amounted to €28 billion in 2024. This is the highest percentage share for Europe in the last eight years, highlighting a comparatively strong year for European cinemas, especially given the global box-office downturn.

A significant factor contributing to this stability was the strong performance of European productions. European movies made up an estimated 33% of total European admissions, marking a significant improvement from previous years. This growth in market share can be attributed to the success of local films, which performed well in their domestic markets. For example, A Little Something Extra became the top film in France with over 10 million admissions, while Rafadan Tayfa Hayrimator led in Turkey, with local films enjoying a remarkable 57% market share.

While the overall performance of European films was strong, Fioroni highlighted a troubling trend: the increasing concentration of European film admissions in local markets, with more than 68% of such admissions in 2023 occurring in the films' home countries. This indicates that European movies are struggling to penetrate international markets, even within Europe.

On the global stage, Guy Bisson, executive director at Ampere Analysis, provided a broader perspective, forecasting the future trajectory of the film industry. According to Bisson, global box-office growth remains stagnant, with the only significant growth occurring in Asia, primarily driven by China. While Europe has managed to stabilise its theatrical market, other regions are struggling to recover to pre-pandemic levels.

Bisson pointed out that, in terms of the overall media ecosystem, two sectors are seeing growth: streaming and online video. The rest of the media value chain is experiencing contraction, signalling a fundamental shift in distribution strategies. The global media market is now divided into two halves: one that is shrinking and one that is growing, with streaming and digital video services at the forefront of this expansion.

Bisson noted that the movie industry has not been as volatile as television, which has seen significant declines in first-run TV orders. However, he observed that both major studios and streaming platforms have begun to pull back from production, with Hollywood studios reducing movie production by 20% and paring back their budgets by 10%.

This shift has created an opportunity for independent producers and distributors, who are now filling the gap left by the major players. Streamers, which were once the dominant force in film production, are now focusing more on TV renewals and less on movie production, meaning that traditional financing models are making a comeback.

In conclusion, both Fioroni’s and Bisson’s presentations offered a clear picture of the current state of European cinema and the broader global industry. While Europe’s theatrical market remains stable, the global industry is experiencing significant shifts in terms of production, distribution and the role of digital platforms. For producers and distributors, these changes mean adapting to new business models and finding opportunities in a rapidly evolving landscape.