Brussels: The European Commission's latest European Media Industry Outlook points to digital innovation and user-centric models holding deep potential for Europe's high-quality audiovisual sector.
According to Emirates News Agency, as the sector continues to evolve at a rapid pace, the Media Industry Outlook offers a number of key insights for the future scaling up, competitiveness, independence, and appeal of European media. The report emphasizes the importance of putting users and consumers at the core of business development strategies to appeal to larger audiences. Additionally, it highlights the need for increasing investment in and adoption of EU-based technologies, including artificial intelligence, and leveraging Europe's rich intellectual properties to stand out in an increasingly crowded landscape.
The Commission has introduced several initiatives to achieve these goals. Between 2021 and 2027, the EU is investing £1.6 billion in the sector under the Creative Europe programme's Media and cross-sectoral strands. Furthermore, in the next Multiannual Financial Framework, the Commission is proposing 'AgoraEU', a new programme worth £9 billion for culture, media, and civil society. This programme aims to enhance the competitiveness of the cultural and creative sectors, particularly the media and audiovisual industries.