This article offers a historical perspective on co-productions of high-end television drama in Germany. It argues that such co-productions have seen three distinct phases that although overlapping, are described by industry insiders and critics as distinct periods where one form of co-production is dominant at a particular time but then becomes residual as other forms take over. These three forms are, first, public broadcaster-led co-productions, second, ‘Europudding’ co-productions, and finally, distinctive co-productions in TVIV. This article shows that these phases are connected to stylistic as well as industrial changes, which do not always overlap with the description of industry insiders.