TV Beats Forum Panelists: The TV Bubble Has Burst, Remakes, New Technologies and Impact Investment Offer Other Opportunities

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As a seasoned cinephile who has witnessed the evolution of television from black and white to high-definition, I wholeheartedly agree with the insights shared at this year’s TV Beats Forum. The industry is indeed at a crossroads, and it’s time for us to adapt or be left behind.

Say goodbye to the old ways of doing TV business and hello to new ones.

Claudia Bluemhuber, speaking at this year’s TV Beats Forum at the Tallinn Black Nights Film Festival, emphasized that we must adopt a new perspective. The old business model we relied on is no longer viable,” said Silver Reel’s Claudia Bluemhuber.

Due to escalating expenses, high inflation, and intense competition from streaming platforms for top-tier talent, we’ll be producing fewer shows. Our current predicament in the industry is largely shaped by fear. It’s crucial that we conquer our fear of failure.

To discover innovative approaches, it’s crucial for increased international cooperation, as emphasized by Meg Thomson, an executive at Globalgate Entertainment. Furthermore, she suggests that we should pay closer attention to platforms such as YouTube and TikTok, which offer more precise advertising targeting, a perspective shared by James Copp, co-head of content at Night Train Media.

It’s outdated to market diapers during TV shows, we need to adapt our content too. Traditional TV is essentially obsolete now, so collaboration is key. You have to dig deep and discover these unique, odd, and fascinating funding methods. It’s tough, but clearly, we’re not shying away from the challenge,” he added.

Patrick Fischer, a co-founder of Creativity Media and Creativity Capital, expressed his desire for an increase in licensing agreements from streamers. During the Series Financing panel at State of Play, he pointed out that broadcasters have noticeably reduced the amount they once commissioned, similar to their platform counterparts.

He stated that it was clear it was a bubble ready to pop. His hope is that streaming platforms such as Netflix wouldn’t adhere rigidly to the traditional Hollywood studio model, where specific types of stories must be told. Instead, he suggests they should recognize their identity as cable networks – allowing for both casual, unscripted content while doing chores and high-quality, award-winning films from renowned directors. He encourages them to accept this diversity in their offerings, perhaps by buying content ahead of time or following the example of traditional cable networks.

Considering the potential for reviving established shows and films by acquiring their remake rights, or even supporting new productions, both strategies prove effective.

Thomson stated that the Dutch learned of the Danish series ‘The Shift’ and chose to adapt and broadcast similar episodes. This move increases the likelihood of financial backers supporting these shows more swiftly, as they see a potential for success.

Faith-based shows also continue to be a popular bet.

Thompson mentioned that while traveling to Latin America and parts of Asia is more common than within Europe, religion is making a comeback, especially among financiers who are interested in such content. They’ve been remaking Asian shows with spiritual themes that can be adapted to Christian beliefs. Even if the original show doesn’t directly involve Jesus, they can incorporate religious elements. For instance, the movie ‘Miracle in Cell No. 7’ has been re-made multiple times, and the ‘miracle’ can be given any desired message.

Sebastian Janin, from Media Musketeers, playfully hinted at the forthcoming “A Prophet,” suggesting that today, small production regions have to think outside the box and come up with more innovative content due to the current landscape.

Though public broadcasters may have good intentions, your best bet lies in going to a platform. Our production ‘A Prophet’ was expensive and risky, but I’m thrilled with the outcome. However, when you navigate such a process, you must make investment decisions early on, as the market changes rapidly. I don’t anticipate returning to the bubble quickly, but if people are open to technology and storytelling, it could be promising. I believe there will be an increase in channels due to the variety of content consumption methods.

According to Fischer’s observation, the only significant increase over the past 24 months has been in soft money. The U.K. recently introduced an impressive independent film tax credit, and Germany is planning to do the same. This means that a larger portion of your budget can now be allocated towards these incentives, which was not possible 10 years ago.

Impact investment is another interesting trend.

Thomson mentioned that people prefer investing in causes they’re passionate about, such as environmental protection and women’s rights. He suggested that these foundations might be promising avenues for consideration.

Bluemhuber pointed out that “the success or profit of an endeavor can be evaluated through various methods… It’s not just about financial gain, but also making a significant impact. To attract investors, it’s crucial to tailor your approach and clearly show that you understand their needs. The days are gone when one could simply present a fantastic project without providing extensive research, data, and a well-thought-out plan for the intended audience.

Nowadays, Bluemhuber stated that it’s crucial to “put in extra effort to persuade individuals to fund shows and initiatives.” However, this process can also be “interesting” as it offers an opportunity to gain insights into the audience in innovative ways.

Though I’ve never used platforms like Facebook or Instagram before, I find myself immersed in exploring them now. I aim to grasp their dynamics and discover effective strategies to optimize their potential.

Also, simply focusing on what constitutes a “commercial” show can be short-sighted, said Copp.

What’s great remains great. When people were clamoring for crime dramas and nothing else, ‘Baby Reindeer’ was released. Suddenly, it took over everyone’s screens,” he explained, citing Netflix’s popular series as an illustration.

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2024-11-25 13:48