As a long-time TV enthusiast who’s witnessed the rise and fall of various trends in the industry, I must say this year’s MIPCOM was a refreshing throwback to the basics. The shift towards more practical, proven formats is not just a smart move for the current economic climate, but also a testament to the enduring appeal of good, old-fashioned TV shows.
At this year’s MIPCOM, the world’s foremost television market, which concluded in Cannes recently, there was a return to simpler strategies. Both buyers and sellers are adjusting to the aftermath of the 2023 Hollywood strikes and a struggling advertising industry, by adopting a more cautious approach. The underlying sentiment was evident: extravagant, high-risk productions are being replaced with more sensible, tried-and-true formats, applicable to both scripted and unscripted content.
Lisa Kramer, president of international content licensing for Paramount Global Content Distribution, observed that consumers are seeking familiar and reliable content. Their collection of traditional procedural shows, such as the revamped Kathy Bates version of Matlock, the medical detective series Watson reminiscent of Elementary, and two spin-offs from their successful NCIS franchise – NCIS: Tony & Ziva, set in Europe, and the prequel series Origins – were met with eager buyers.
The long-running television series NCIS, which has brought in a staggering $4.5 billion for the studio, continues to thrive with plenty of potential left unexplored. As per Kramer’s observations, there’s a robust demand for the show’s archive, with streaming platforms scrambling to acquire a reliable procedural that consistently attracts audiences. In essence, they seek a substantial collection of episodes from shows known to deliver viewers reliably.
Originally, TV trendsetters held episode-of-the-week dramas in low regard, but due to the emphasis on ratings and keeping subscribers, procedural shows have regained popularity.
Channing Dungey, chair of Warner Bros. TV, pointed out that there was once a dislike for procedural shows, but now people are acknowledging, ‘Actually, the audience likes them, and we should create more of these procedurals,'” (paraphrased in a more conversational style).
As a gamer, I’ve noticed a shift in the industry too. With American outlets tightening their purse strings, game developers like me are increasingly seeking funding overseas. A good chunk, around 75 to 80 percent, of the budget for a major game series these days often comes from Europe. That’s according to an old-timer producer in the U.S. market. European buyers seem to have a soft spot for procedurals in gaming too.
“Increasingly, the market is being driven by what works internationally,” noted Kramer.
Due to many consumers adopting cost-effective habits, there’s been an increased interest in affordable reality and humor shows, with both established television networks and streaming platforms like Amazon MGM Studios offering these programs. At the MIPCOM conference, Amazon MGM Studios showcased their affection for the Japanese comedy format “LOL: Last One Laughing,” which has become one of the most successful unscripted formats in recent years and holds the record as Prime Video’s most-watched title in several nations. This interactive comedy show, where top comedians attempt to make each other laugh using various methods, will debut a U.K. version next year, with Banijay handling production.
According to Lucas Green, the chief content officer at superindie Banijay, there’s a noticeable meeting of minds between traditional broadcasters and online streamers regarding the types of programming they desire. Streaming platforms are increasingly interested in reality shows, game shows, entertainment programs, and even live event broadcasts. The divide between broadcast and streaming media that was once significant is diminishing.
Henrik Pabst from ProSiebenSat.1 Germany refers to this strategic blending as a “super streamer” or, less fluidly, “broad video on demand.” This integration is fueled by the decrease in conventional linear TV viewing and the consistent increase in streaming viewership.
According to Pabst, traditional consumption patterns are consistently decreasing, but Video On Demand (VOD) consumption is increasing. It’s only a matter of time before these trends intersect in terms of usage. When they do, it’s essential to have the appropriate content strategy ready.
As a dedicated fan, I’m all about amplifying success across various platforms, just like how ProSiebenSat.1 is focusing on hit shows that resonate universally, such as Germany’s Next Top Model. In fact, they recently extended Heidi Klum’s contract for several years beyond the 20th season of the show!
Based on the decrease in MIPCOM attendees by almost 5%, from approximately 10,950 to 10,500, and Electric Entertainment’s Dean Devlin’s observation that “our booth was bustling, but I could see clearly down the aisle,” it appears that the global TV industry’s recovery still has some distance to go.
The situation might worsen initially but then improve later on. At a MIPCOM keynote, Tony Vinciquerra, who is stepping down as Sony Pictures Entertainment CEO, predicted a significant restructuring within the next one and a half to two years.
He predicted a turbulent scenario with various companies merging, consolidating, selling assets, or even declaring bankruptcy. He added that streaming services will eventually turn a profit, though it might not be a significant one. However, he emphasized that traditional cable services are experiencing a steady decrease in numbers.
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2024-10-25 15:25