DThe German film and television industry is warning of a “crisis year in 2024”. “Production companies of all sizes are having a problem. “I expect restructuring and job cuts, the risk of insolvency is increasing,” said the board of the Alliance of German Producers, Björn Böning, to WELT AM SONNTAG.
Böning predicts a ten percent decline in order volume for his industry. At the same time, costs for producers rose significantly.
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“Nothing new in the West”
“Until the beginning of this year, I would have said that the industry was doing well,” said Böhning. “But now we are experiencing a rapid cooling, the extent of which surprised us.”
He criticized the recent cut in federal film funding as a “fatal decision”. This will lead to “a significant number of planned productions being canceled or at least needing new financing”.
Studio Hamburg also warns of problems
The head of Studio Hamburg Production, Michael Lehmann, also warned of economic problems: “A large part of the industry always works on the edge of self-exploitation. With zero interest rates, increasing funding and more demand from broadcasters and streamers, things worked well for a long time – but not anymore.”
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Studio Hamburg is also recording declining profit margins despite increasing sales, said Lehmann, and he warned: “I now doubt that the reform of film funding will succeed at the necessary speed.”
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