Finnish audiovisual industry gains momentum
A common view across the industry is that Finland can add value to the global ecosystem.
Finland's audiovisual industry has grown and internationalized rapidly over the past five years. In December 2021, a study by the VTT Technical Research Centre of Finland for Business Finland showed that the turnover of Finnish production companies increased by more than 40 percent in the period 2016-2019. Their activities have become more international, according to the study. Revenues from exports to the EU increased by 97%, from EUR 21.6 million to EUR 43 million in 2016. In addition to that, import expenditure increased by 102%, from 21.6 million to 43 million at the same time. Internationalization has created the conditions for growth, which has had a positive impact on the number of employees employed by the companies examined in the study.
Finnish productions show the global transformation of the television and film market. Both the production processes and the skills required are changing. The production incentive in Finland, managed by Business Finland, has a significant role in increasing production budgets and sales of international co-productions and production services. Finland also offers regional incentives. Up to 40% of the production can be boosted by the combination of national and regional support. Domestic private investors have become interested in the Finnish audiovisual industry over the past five years. They are interested in investing in high-quality domestic and foreign productions.
Finland has stepped up as a production country and gained a strong foothold. Some of the most successful Finnish productions include the crime drama series Bordertown Sorjonen and Deadwind Karppi and the films Hatching Pahanhautoja Girl Picture Tyt t t tyt and Tove, says Hanna Vuorinen, head of audiovisual promotion at Business Finland. The industry is motivated to invest in partnerships with international players. We can continue the good growth that we have achieved by investing in education and sustainable development in the industry. Success comes from working together.
The Growth Deal project was preceded by a comprehensive ecosystem mapping work. The deal will begin on April 20 with a joint event in Helsinki, where Warner Discovery, Viaplay and the regional channels will be looking at the future together.
The Growth Deal aims to support the growth and internationalization of companies in the sector through practical measures. Lasse Saarinen, Executive Director of the Finnish Film Foundation, says that this joint work will lead to future success.
In 2016, the turnover of the production companies was EUR 309 million - EUR 441 million in 2019. The survey was limited to APFI member companies and those companies in the TOL classification 5911 and 5912 with an average turnover of more than 50,000 euros. The financial figures of 754 companies were examined for the year 2019 in the report. The official TOL classification is problematic in regard to the audiovisual industry, which can also be analyzed using a different definition.