Squeezed budgets and migrating audiences will make it another challenging year for the international industry
We might still be in the nascent stages of a new year but bear with me, dear reader, and rewind 12 months. Remember when the ‘Survive to 25’ mantra was all the rage? Well, here you are – you’ve made it. So what now?
There is, of course, no getting away from the fact that no matter where in the world you are located, our industry’s recalibration is not a mere blip but a more fundamental shift. Adaptability is fast becoming the most important factor that will determine survival, never mind success.
Driving most of this change are audiences’ rapidly evolving viewing habits. With so many alternative ways to find entertainment, it is no surprise that tastes are changing quickly, and the idea that you can hang onto decades-old commissioning strategies and budgets in this emergent – and increasingly international – world seems naive.
This shift has not escaped the global streamers, which have moved quickly to embrace the creator economy, or at least the stars that have made it their home. Prime Video and Netflix have both taken talent from YouTube, underlining the fact that we’re living in a world in which the walls between once separate parts of the content business are quickly coming down.
Indeed, the development of the new creator economy has occurred “much faster than expected”, says Andrea Scarso, partner at financier IPR.VC Management. He is one of four executives who took part in an exclusive Broadcast International roundtable (see p14), delving deep into the challenges and opportunities of financing content while navigating choppy waters. “[The new creator economy] is putting a huge amount of pressure on traditional TV audiences and producers,” he adds.
Fortunately, our roundtable provides some answers when it comes to getting a show off the ground in this current environment, with brands and co-productions mooted as viable options. And while the co-pro is certainly not new, its appeal to companies that once eschewed the model is providing much-needed fuel to commissioners and producers alike.
It is a point noted by Prime Video’s Javiera Balmaceda, whose vast originals remit stretches across Latin America, Canada and Australia. She outlines not only her increased openness to co-productions in our exclusive interview (p8), but also sets out her commissioning plans ahead of a year in which LatAm scripted projects look set to make their mark on the global stage.
Co-productions are also being sought by Turkish drama producers and distributors (p24), following a decade in which their scripted product has outperformed almost every other genre. And just like the rest of the industry, the Turkish telenovela is evolving quickly as producers look to sate the appetites of traditional viewers but also appeal to new audiences with shorter seasons, while making the most of streaming’s global reach.
For those of a factual persuasion, this issue of Broadcast International includes a deep dive into the potential applications of Artificial Intelligence in factual TV (p36), unpacking what it means not just for those working on the shows of today but for the genre as a whole, in a world where truth and reality are the lifeblood of the industry.
There is also a report on the recent Shooting in Spain event in London (p32), which details the country’s support for international producers.
Plus there is an array of punchy opinion pieces from key international executives on topics ranging from the success of the Israeli scripted format industry and the global reach of a Swedish production company, to a Canadian group self-financing its own shows. Each is an example of potential in this new-look world, where adapting to the realities thrown up by the industry has never been more important.
- Richard Middleton is head of content, Broadcast International
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