The European Broadcasting Union (EBU) has announced that its members in 56 countries invest more than €18.6 billion a year creating premium content.
The research comes as part of the EBU's effort to highlight the impact of TV for World Television Day (21st November).
80 per cent of EBU members’ investment in content is allocated to original productions. They are directly involved in 73 per cent of all TV fiction titles produced in the EU.
According to the European Audiovisual Observatory's latest report, 2017 saw the production of TV fiction in the EU amount to 920 different titles, representing over 16,400 episodes and 11,000 hours.
EBU DG Noel Curran said: "I think World TV Day is very important. It's important to recognise the continued power, impact and influence that TV has.
"I think if you look today our members, public service media organisations, reach 68 per cent of the European population every week.
"Television, in all of its many guises and in all of the many ways that it is now consumed and transmitted, has a really strong future. It is changing, we need to change with it, but television is here to stay," he added.