The European Commission has published its first ever European Media Industry Outlook, which provides an overview of the state of the European media industry in 2023. The report identifies a number of key trends that are shaping the industry, including:

• The continued shift to digital consumption. In 2023, digital media accounted for 70% of total media consumption in the EU. This trend is expected to continue in the coming years, as more and more people access media content online.
• The rise of global players. The media industry is increasingly dominated by a small number of global players, such as Netflix, Amazon Prime Video and Disney+. These companies have the resources to invest in new content and technologies, which gives them a competitive advantage over smaller, local players.
• The growing importance of data. The media industry is increasingly reliant on data to understand and target audiences. Companies are collecting data on everything from viewing habits to demographics, which they use to create more personalized content and advertising.
• The need for innovation. The media industry is facing a number of challenges, including the rise of piracy and the fragmentation of audiences. In order to remain competitive, companies need to innovate and find new ways to reach audiences.

The European Commission report highlights the importance of the media industry to the European economy. The industry employs over 1 million people and generates €170 billion in revenue each year. The report also stresses the importance of the media industry in promoting cultural diversity and freedom of expression.

The report concludes by calling for action to support the European media industry. The Commission recommends measures to help the industry adapt to the digital age, such as funding for research and development, and support for the development of new business models. The Commission also calls for measures to protect the European media industry from unfair competition from global players.

The European Media Industry Outlook is an important document that provides a comprehensive overview of the state of the European media industry. The report identifies a number of key trends that are shaping the industry, and it calls for action to support the European media industry in the face of these challenges.