Written by Kianna Best on Feb 27, 2023. Posted in General Interest

European feature films in 2020 produce average budget of EUR 2.06million

The European Audiovisual Observatory released they’re report on the financing of European theatrical fiction films, revealing that in 2020, the industry achieved an average budget of EUR 2.06 million. Direct funding came out on top as the largest financing source contributing 26% of the total financing, with producer investments and broadcaster investments following closely behind both with 18%.

 

“This analysis is based on a data sample comprising detailed financing plans for 482 European live-action fiction films – theatrically released or scheduled for theatrical release in 2020 - from 27 European countries,” stated an excerpt from the executive summary of the report. “The data sample includes both 100% national films as well as European majority-led co-productions. It covers a cumulative financing volume of EUR 1.45 billion. The data sample is estimated to cover roughly 64% of the total number of European1 fiction films released in 2020. This is - as far as the Observatory is aware - the largest pan-European data sample for the analysis of financing of European fiction films for this year.

 

Image courtesy of Jakob Owens by Unsplash

 

With differing market sizes, budget sizes also shifted accordingly. In larger market such as those located in France, Germany, Italy, Poland or the UK, the average budget amounted to EUR 2.7 million during the 202 period, whereas as the market size decreases, the budgets in medium and small regions fell to EUR 1.8 million and EUR 1.1 million respectively for fiction film production. The research also found that production incentive based funding increased with the increase in size of the budget, with this type of financing accounting for 12% of micro-budget film funding, 13 of low budget films, 16% for medium, 18% for high and 17% for super high.

 

Whilst bigger budget productions were seen to receive the largest share of financing funds, medium budget films saw an increase of funds invested into them, reaching a 37% higher value than the previous year, whilst the super high budget productions saw a 13% decrease. High budget films with a budget ranging between EUR 3 to 10 million received 49% of total financing, followed by medium budget of EUR 1 to 3 million receiving 26% and super high budget of EUR 10 to 30 million receiving 21%.

 

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