They are also twice as likely to be released in foreign markets and significantly outperform national productions in non-national markets.
The report covers circulation and performance of more than 5,000 films across 20 European countries from 2001-2007. It will be presented at this week's Council of Europe forum on the future of European Film Policy Forum in Cracow from Sept 11-13.
The report highlights several key elements which contribute to the greater success of co-productions.
Co-productions tend to have higher budget and production values, which in turn attracts larger audiences. In addition, the tendency for higher budget projects to be shot in English means easier access to the UK market which is normally less receptive to subtitling.
The fact that co-productions have greater access to international broadcasters and distributors also boosts a film's chance of being released across different territories. While the tendency to cast international talent and to mix local stars from the co-producing countries also contributes to attracting wider audiences.
And as the report points out, films with cross border appeal are more likely to be made as co-productions in the first place.
The report can be downloaded for free here.