Europe’s television industry is in the midst of a dramatic transformation. With the rapid ascent of global streaming giants and shifting viewer habits, traditional broadcasters are facing mounting pressure to evolve—or risk becoming obsolete. Industry experts say the current shake-up is not just possible, it’s inevitable.
Across the continent, media companies are racing to scale up, streamline operations, and pivot toward digital platforms. Strategic mergers and acquisitions are becoming more common, reflecting an urgent need for traditional networks to fortify their positions. ITV Studios’ recent acquisition of a majority stake in Moonage Pictures, known for producing The Gentlemen, exemplifies this trend. Similarly, MediaForEurope’s ongoing push to take control of Germany’s ProSiebenSat.1 demonstrates how consolidation is becoming a survival strategy rather than a choice.
The financial pressures behind these moves are clear. While ProSiebenSat.1 reported operating profits of over €550 million last year, the broadcaster’s core television advertising revenue has declined for three consecutive years—down 5% to €1.6 billion. Shrinking ad revenue, rising content costs, and competition from ad-supported streaming platforms are all squeezing legacy broadcasters.
In response, many are ramping up investments in their own digital platforms. ITVX in the UK and RTL+ in Germany have both shown promising signs of growth. ITVX saw a 15% year-over-year increase in digital ad revenue, along with a 14% rise in monthly active users. Meanwhile, RTL+ reported a 42% jump in streaming revenue, driven largely by expanding digital advertising.
Yet, these digital transitions come with their own challenges. Original, high-end content remains expensive to produce, and public broadcasters like the BBC are already scaling back projects due to funding constraints. Industry leaders warn that even as digital audiences grow, the economics of prestige television may become harder to sustain.
As the European media landscape continues to shift, one thing is clear: only the biggest and most adaptable players will thrive. Survival, it seems, will favor those who can evolve quickly and think globally.