Turkish TV series industry in crisis following cost increases and falling revenues
The Turkish TV series industry is experiencing a deep crisis, characterised by falling advertising revenues and sharply rising production costs.
Certain series now have episode costs of up to 40 million Turkish lira, which has prompted television channels to demand a 25 per cent discount from producers.
This economic pressure has led to a significant decline in the number of productions. Developments in the Turkish TV sector show that the decrease in advertising revenue, combined with sky-high production costs, has intensified the industry' s crisis.
This affects an important sector of the Turkish economy, which not only employs many people but also boasts a significant international audience and contributes to the country' s cultural exports. Increased costs and demands for discountsThe extreme costs per episode, which for some series reach 40 million Turkish lira, put enormous pressure on producers.
As a direct response to this, television channels have reacted by demanding a significant 25 per cent discount from production companies in an attempt to cut their own expenses and maintain profitability during a difficult period. The consequences of this pressure are already clear.
Over the last three seasons, the number of produced TV series has fallen by as much as 37 per cent.
This indicates a marked reduction in industry activity, which in turn could lead to fewer jobs and reduced investment in the sector. Economic losses and future prospectsThe situation is further worsened by the fact that early cancellations of TV series, due to failing viewing figures or financing problems, can result in losses of up to 150 million Turkish lira per production.
Such significant losses threaten the industry' s sustainability and make it risky for both producers and investors to start new projects. For the Turkish economy as a whole, this represents a challenge for a sector that has previously been a growth driver and a major exporter of popular culture.
The current crisis underscores the importance of stabilising advertising revenues and finding solutions for the escalating production costs to ensure the sector' s future success. Source: Haberglobal
Source: Haberglobal
