9 FEB 2024

Nordics: Growing demand for local content

Nordic online video viewers’ demand for local content grew in the fall of 2023 compared to the same period in 2022. Local fiction and entertainment now account for 25 percent of all online viewing on curated on-demand content.

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Mediavision's latest "Content Analysis" shows a growing demand for locally produced content among Nordic streaming viewers. Consumer demand for local content is significantly higher than the supply available in the Nordics. With the past year's economic downturn taking its toll on many local media companies, this gap is at risk of increasing as local content productions are cut.

Nordic online video viewers' demand for local content grew in the fall of 2023 compared to the same period in 2022. Local fiction and entertainment now account for 25 percent of all online viewing on curated on-demand content. This excludes live sports, news, and social media content. However, the available streaming supply of local content is significantly lower than the demand. The share of local fiction and entertainment available on streaming services in the Nordic market is 6%.

As many actors have experienced a turbulent 2023, especially several locals, the number of new locally produced titles is at risk of being cut, leaving viewers with even less local content to enjoy. The economic circumstances will most likely mainly affect fictional content, as production costs for such titles are generally higher than for entertainment. Meanwhile, several global actors have communicated increased investment in Nordic content. However, the locals still account for the lion's share of the local content supply.

"As the financial pressures persist, the production of local titles is at risk of declining in 2024 despite growing consumer demand. Much depends on how global actors are going to invest in Nordic productions in the future. In the wake of the economic strain, we have also seen several new production collaborations here in the Nordics, which alleviates the cost for individual actors while catering to the substantial appetite for local content among the Nordic viewers," commented Hanna Ranby, Analyst at Mediavision.

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