Homer went to Hollywood. Europe can still bring him home

After 35 years of EU film funding, the continent still demonstrates 27 distinct national cinema markets rather than a unified market. On July 17, Universal released Christopher Nolan's The Odyssey, filmed across various European locations, which went on to become the highest-grossing film of Nolan's career and in Universal's history.

Despite this success, the arrangement remains familiar, with American studios like Warner Bros. producing films for British directors. The European Union, despite its 27 member states, does not possess one cohesive film market. While the continent boasts over 642 million cinema tickets sold in 2024, the majority of these tickets are for films from outside the Union, primarily American productions.

French films, however, have managed to secure a notable share of admissions in their home market, accounting for nearly 45% in 2024. French cinema has been supported by significant investments, with the EU's MEDIA programme having invested over 2.6 billion euros in film and audiovisual industries between 1991 and 2021. The Council of Europe's Eurimages fund, established in 1989, has backed over 2,675 co-productions, investing a total of 764 million euros.

Despite these efforts, films from outside the Union still take about two tickets in three at European cinemas, while national aid often results in funds being directed towards specific markets. Co-productions have shown promise, generating three times as many admissions as purely national films and accounting for over 60% of majority co-productions that were released abroad.

Nevertheless, the challenge remains in translating this support into a unified European film market that can compete on a global scale, particularly with the dominance of Hollywood in the international market.