MONEY’S TOO TIGHT:
COMMERCIAL VALUE OF ARCHIVES

An Experts Roundtable Discussion
by the Value, Use, and Copyright Commission

MONEY'S TOO TIGHT: COMMERCIAL VALUE OF ARCHIVES

Tuesday, October 7, 2025

2:00 p.m. – 3:30 p.m. (CEST)

Online

Session Recording

On October 7, 2025, FIAT/IFTA’s Value, Use and Copyright Commission hosted a compelling 90-minute online roundtable titled Money’s Too Tight: Commercial Value of Archives. The session brought together leading audiovisual archive professionals from around the world to explore how broadcast and audiovisual archives can demonstrate and strengthen their commercial value while balancing heritage and cultural roles.

Participants discussed the ongoing challenge that archives face as cost centers within their parent organizations — requiring people, technology and infrastructure — and explored how they can instead be viewed as engines of revenue and strategic value. Key revenue drivers highlighted included internal reuse for production, repeats on owned platforms, global program sales, streaming on platforms and the licensing of clips to external buyers.

The conversation centered on practical frameworks and strategies for archives to build robust methodologies, gather meaningful data, and present compelling business cases that demonstrate financial returns. Contributors shared insights on how to measure contributions, link archival activities to broader corporate goals, and strengthen the role of archives in an increasingly competitive digital media landscape.

Overall, the roundtable underscored that while archives have inherent educational, heritage and research value, articulating commercial impact — backed by numbers, use cases and strategic thinking — is essential for securing investment and long-term organizational support.

Co-produced by Dale Grayson and Gabriele di Majo (FIAT/IFTA) and moderated by Bríd Dooley (RTÉ).

EXPERTS PANEL

Louise Broch

Louise
Broch

Archive Researcher (DR)
Zoé Macheret

Zoé
Macheret

Head of Digital (INA)
Bobby Dicks

Bobby
Dicks

Vice President of Licensing & Sales (CNN)
Sila Berrutti

Sila
Berruti

International Archives Sales (RAI COM)
Razib Chatterjee

Razib
Chaterjee

Manager User & Client Services (RTÉ Archives)
Billy Segal Gezelius

Billy
Segal Gezelius

Head of Archives (IPBC-KAN)
Richard Mahr

Richard
Mahr

Production Manager (ORF)
Katrina Stokes

Katrina
Stokes

Head of Archive Access (BFI)

THE DISCUSSION

Audiovisual Archives: From Cost Centres to Strategic Assets

Audiovisual archives are often described as the memory of institutions and societies, yet in practice they are frequently asked to justify their existence in far more prosaic terms. In an environment of shrinking budgets, increasing competition for funding, and pressure to demonstrate short-term results, archives are regularly challenged to “prove their value.” Too often, that value is interpreted narrowly as annual revenue, leaving much of what archives contribute unseen or undervalued.

What emerges from the seminar is not a defence of archives as profit-making machines, but a more nuanced argument: archives are complex strategic assets whose worth cannot be captured by a single financial metric. They generate income, certainly, but they also save money, enable innovation, reinforce institutional identity, and serve a broader public and cultural mission.

The difficulty lies in explaining this richness in terms that resonate with managers, funders, and policy makers—without losing sight of what makes archives fundamentally different from ordinary commercial products.

Rethinking what “commercial value” means

When people speak about the commercial value of archives, they often mean licensing revenue. This is understandable: income from selling footage, stills, or access is visible, measurable, and easy to report. But the roundtable discussion makes clear that this is only one part of the picture.

Archives contribute economically in deeper, less obvious ways. Broadcasters and media organisations reuse archival material every day to produce documentaries, news features, anniversary programmes, and digital content. Each time this happens, the organisation avoids the cost of filming from scratch or commissioning new research. Over time, these savings add up, even if they rarely appear as a line item labelled “archive value” in the accounts.

There is also a strategic dimension. Well-managed archives allow organisations to respond quickly to cultural moments, breaking news, or public debates. When an anniversary comes around or a topic suddenly returns to public attention, the archive makes it possible to act immediately, with credibility and depth. In this sense, archives function like a reserve of potential energy: their value becomes visible when the right moment arrives.

Seen this way, commercial value is not only about what an archive earns, but also about what it enables and what it prevents the organisation from having to spend.

How archives generate income—and why it’s uneven

Licensing remains a cornerstone of archival revenue. Unique and irreplaceable material, particularly historically significant footage or recordings, often unfortunately being disasters or crimes, continues to be in demand for film, television, streaming platforms, advertising, exhibitions, and increasingly for digital and social formats. However, the discussion highlights that success in licensing depends as much on clarity and efficiency as on content itself. Clear rights documentation, responsive services, and strong metadata often make the difference between interest and an actual sale.

At the same time, revenue tends to be highly concentrated. A relatively small portion of an archive’s holdings may generate most of its income, while vast amounts of material appear, at least financially, dormant. This imbalance creates a recurring challenge: how to justify preserving, cataloguing, and managing content that may not generate immediate or obvious returns.

The roundtable participants push back strongly against the idea that only “profitable” material deserves care. One of the defining features of archives is that their value often emerges unexpectedly. Material that seems obscure today may become essential tomorrow, driven by new research, social change, legal needs, or shifting cultural interests. The inability to predict future demand is not a weakness of archives; it is precisely why comprehensive preservation matters.

For any archive, it is crucial to have a clear understanding of the rights attached to the materials it holds. Rights must be properly cleared, documented, and managed so the archive knows exactly how and where its content can be exploited. Equally important is the accurate cataloguing of all archived footage and the way it is made accessible, both internally and to the public.

The limits of short-term measurement

A major source of tension lies in how organisations measure success. Annual revenue figures are straightforward and comforting, while long-term value is harder to pin down. Yet archives operate on timescales that do not align neatly with yearly budget cycles. Cultural relevance, brand trust, research impact, and institutional memory all develop slowly, sometimes over generations.

All the panelists agree that archives need better ways of telling their story using both numbers and narratives. This might include demonstrating how much money is saved through reuse, showing how often archival material appears in high-profile productions or public communications, or tracing how archival content circulates across platforms and audiences. None of these measures are perfect, but together they help bridge the gap between archival practice and managerial expectations.

Value beyond money: why archives matter anyway

While much of the discussion focuses on economics, it repeatedly returns to the idea that some of the most important values of archives are not financial at all, especially for public broadcasters. Audiovisual archives preserve collective memory. They document how societies have represented themselves, how institutions have acted, and how culture has evolved. This role underpins education, research, and democratic accountability, even if it does not generate immediate revenue.

For educators and researchers, archives provide primary sources that make history tangible and allow new questions to be asked. For institutions, especially public broadcasters and cultural bodies, archives support identity and trust. Being able to show where you come from, what you have done, and how you have changed over time is essential to legitimacy in the public sphere.

These functions are often described as “intangible,” but they are far from optional. In many cases, they are the very reasons archives exist.

Artificial Intelligence and archives

The panel highlights that Generative AI is opening new licensing questions for archives, particularly around the use of archival content to train AI models. While this could represent a future revenue stream, there are currently no clear market standards for rights, pricing, or usage conditions. As a result, archives need to think strategically about how to protect their assets while exploring fair and sustainable ways to monetise AI-related uses.

Towards a more balanced future

No need for choosing between commercialisation and public service. Instead, panelists suggest that sustainable archival practice depends on balancing access, preservation, and monetisation. Tiered access models, transparent rights frameworks, and ongoing dialogue between archivists, managers, and policy makers can help ensure that commercial activity supports, rather than undermines, long-term cultural and societal value.

Ultimately, the roundtable makes a simple but powerful point. Audiovisual archives are not just storage facilities or nostalgic repositories. They are living resources that generate income, reduce costs, shape narratives, support knowledge, and preserve memory. Recognising and articulating this full range of value is essential if archives are to move from the margins of organisational thinking to the centre of strategic planning.

Q&A’s

We would like to thank the audience for their active participation and thoughtful questions, and the panelists for their valuable contributions. All of these inputs will be essential for the next phases of the project.

Zoé Macheret

(Zoé Macheret_INA): More and more, we enhance the quality of our archives using AI-based upscaling. We rely on external tools that we train with dedicated prompts. For example, nearly one thousand pieces of content available on our streaming platform INA Madelen will soon be upscaled to higher quality.

Colorization, however, is more complex because it requires approval from all rights holders. Nonetheless, we have conducted tests. For instance, the documentary Il suffit d’écouter des femmes, produced by INA and released in 2025, was fully colorized with the help of AI (and also with significant manual work from our archival researchers to correct imperfections).

Katrina Stokes

(Katrina Stokes _British Film Institute): The BFI’s restoration policy is to preserve and present works as closely as possible to how the original creators intended them to be seen, while enabling new audiences to experience them through careful digital restoration.

We also recognise that there is an appetite for colourised or creatively reinterpreted versions of archive material, and the BFI has occasionally collaborated on such projects. This is done on the clear understanding that audiences are made aware they are viewing an artistic reinterpretation, not an authentic restoration. The original material is always preserved and available in its true form within the BFI National Archive.

A good recent example of this approach is the documentary feature Endurance (2024), available on Disney+, which utilised material from the BFI’s 1919 restoration of South — the original film created from Frank Hurley’s extraordinary photography shot during the 1914 Imperial Trans-Antarctic Expedition led by Ernest Shackleton. The BFI provided access to the preserved original b/w footage and granted permission for the produce to colourise sequences for use in the film, ensuring the creative version could reach new audiences while maintaining the authenticity and integrity of Hurley’s original work.

Louise Broch

(Louise Broch_DR Denmark): My colleague Sarah Udsen has replied to part of the question: It depends on what you mean by “commercializing” the content. We don’t consider ourselves a stock agency. But we allow external parties such as production companies and publishers to purchase content from DR for use in new productions, as long as these do not have a political purpose or can be regarded as advertising for a cause or a product.

Louise Broch has further replied: We have had several digitization projects throughout the years, often with external supplier companies and funded by public funding. Although colourization is appealing and a way of making history alive, there is always a discussion about changing the original and about the authenticity of the colours: Was the dress red in reality? But with correct metadata telling when the original was changed into colour, what tool was used, and on what purpose the original was changed, it is a way of getting more attention to old footage. You will find opinions both in favour of and against colourization.

Billy Segal Gezelius

(Billy Segal_ IPBC–KAN): Certainly. The digital restoration of valuable archival footage has the potential to significantly enhance its cultural and economic value, particularly for use in documentary production. Within our digitization project, we deliberately allocated budgetary resources to the restoration of historically important materials, guided by considerations of long term reuse and future revenue generation.

At present, however, colorization remains a costly and resource intensive process. Given the limitations of currently available tools, I would not recommend substantial investment in colorization, as its cost effectiveness cannot yet be reliably established. That said, rapid developments in artificial intelligence suggest that more efficient and financially viable colorization technologies may emerge in the near future, potentially enabling the creation of visually compelling archival footage suitable for commercial distribution.

Katrina Stokes

(Katrina Stokes _British Film Institute): The BFI Archive Sales team is largely a reactive unit, responding to info and access enquiries from around the world and supporting a wide range of users — not all of them commercial. We also take a proactive approach by attending markets and engaging with established B2B clients such as producers and researchers. At the same time, we know that we need to explore new ways to extend our reach through social media and other channels. We are going to re-launch e-newsletters as a result of hearing from the others on this panel!

Bobby Dicks

(Bobby Dicks_CNN): Yes, we actively engage in proactive sales initiatives while also serving as a resource for clients who approach us directly. Our goal is to support the archival community and, at the same time, drive revenue in a sustainable and collaborative manner.

Billy Segal Gezelius

(Billy Segal_ IPBC–KAN): Our archive acts more as a service unit selling clips to various productions all over the world.

Katrina Stokes

(Katrina Stokes _British Film Institute): The BFI Archive Sales team is largely a reactive unit, responding to info and access enquiries from around the world and supporting a wide range of users — not all of them commercial. We also take a proactive approach by attending markets and engaging with established B2B clients such as producers and researchers. At the same time, we know that we need to explore new ways to extend our reach through social media and other channels. We are going to re-launch e-newsletters as a result of hearing from the others on this panel!

Bobby Dicks

(Bobby Dicks_CNN): Yes, we actively engage in proactive sales initiatives while also serving as a resource for clients who approach us directly. Our goal is to support the archival community and, at the same time, drive revenue in a sustainable and collaborative manner.

Katrina Stokes

(Katrina Stokes _British Film Institute): Archive Sales income and cost tracking is based on a long track record of clip sales for broadcast and related revenue streams. Since a peak in 2012, partly linked to the London Olympics, footage sales revenues have remained largely stable. Whilst our sales to traditional UK PSB commissioned documentaries have declined, there has been modest growth in other areas, notably from streamer-funded productions and an increased demand from museums, galleries and mixed media events. We have been able to diversify by licensing footage into new sectors, including digital products for higher education and libraries in North America, Hong Kong, and other parts of the world. Assessing overall market size remains challenging, and calculating return on investment is not an exact science, given the limited availability of comparable data. Monitoring developments in the UK production and commissioning sectors has been a key focus in recent years, and we are now developing a broader strategy to expand our reach and strengthen relationships in larger markets.

Bobby Dicks

(Bobby Dicks_CNN): Our financial targets are informed by historical performance as well as current market analysis.

Louise Broch

(Louise Broch_DR Denmark): My colleague Sarah Udsen has replied to this question: In DR Archive Sales in Denmark, we are obliged to generate an annual profit target that is set from above. This profit target has been the same for many years and is therefore not dependent on how the previous year has turned out. However, it is set at a level that is a very good average of the profit we generate in a year. Since we are not proactive, but solely carry out inbound sales, some years we will earn more than our profit target and other years less. During the budget year, ongoing adjustments are made, and if towards the end of the year we can see that we will not be able to meet the earnings requirement, we report an adjustment, which is then considered in the other budgets in the area.

Katrina Stokes

(Katrina Stokes _British Film Institute): Not my team personally, but it’s certainly an interesting idea to develop. Recently, the BFI partnered with Mawaan Rizwan, who began his career on YouTube and is now a celebrated British actor and comedian. This collaboration included a fashion shoot featuring Mawaan and his talented actor brother, Nabhaan Rizwan, at the BFI Conservation Centre, accompanied by a feature in Vogue both online and in print. The focus was reaching new audiences and engaging the public with the work of the BFI, rather than on monetisation.

Katrina Stokes

(Katrina Stokes _British Film Institute): Yes, over the years the BFI has occasionally sold footage — notably for a few car adverts, a pension company using early 20th-century footage, and one high-value campaign with a luxury watch brand. While it is possible to charge premium rates for this type of use, these opportunities are relative few for us. I’m thinking we should focus on inspiring and finding creatives, encouraging them to use authentic archival materials. However, one does wonder if some sectors may increasingly rely on Gen AI — for example, I’ve just heard about a backdrop feature being used instead of shooting at historic sites in the UK. This has implications for film locations, which often rely on revenue generated from on-site shoots. On the other hand, I do think that corporates are increasingly recognising the long-term value and equity in preserving and digitising their moving image heritage, including older adverts, corporate films, and in-house film unit materials. This represents a business opportunity for organisations that hold and preserve such materials or can provide the digitisation and restoration services.

Bobby Dicks

(Bobby Dick_CNN): We do make some of our library available for licensing purposes. That content is determined on a case-by-case.

Billy Segal Gezelius

(Billy Segal_ IPBC–KAN): As a public broadcasting archive, we don’t generally promote the use of our footage for advertising. That said, we do allow limited commercial use in cases where the advertising context aligns with our editorial standards and public service values. So while advertising isn’t a major focus for us, it does represent a modest and carefully managed source of revenue.

Louise Broch

(Louise Broch_DR Denmark): No, we don’t have metrics for this, it would be difficult because our archive grows every day. What we know as archive researchers is the fact that journalists always want to find archive footage which has not been used before. For me it doesn’t matter if only 10 percent or less is used regularly. If one clip, which has never been reused before, is the rare jewel for a new production, the value of the archive item has been proven. As a public service broadcaster it is important to produce programs both for broad and narrow audiences. It is also important to be able to dig deep into the archives to find rare footage. I believe that better searchtools will soon help us revealing more of this invaluable content which can be difficult to find at the moment.

Billy Segal Gezelius

(Billy Segal_ IPBC–KAN): That’s a good question. We don’t have exact metrics, but the archive is used intensively every day—both in internal radio and TV productions and by external researchers. Even so, this represents less than one percent of our total holdings. Due to budget limitations, online access is growing ,but still limited, so many important archival materials have yet to be revealed.

Zoé Macheret

(Zoé Macheret_INA): Publishers share very limited information on views and revenue related to FAST channels — most likely because the market is still immature. Three years ago, everyone wanted to launch a FAST channel, but this is less true today as we’ve realized that the European digital advertising market is significantly smaller than the US one. As a result, FAST revenues are still often disappointing. That said, we still believe FAST offers a great opportunity to expose our content to a large audience, and at INA we are always eager to test new product formats.