How the Studio Behind the Jake Paul-Mike Tyson Fight Punches Above Its Weight

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In the scorching heat of 2023’s summer, Ian Orefice stepped down from his position as President at Time Studios, embarking on a fresh journey by founding EverWonder Studios.

Despite having Jeff Zucker’s RedBird IMI as their financial supporter, taking this project on was a considerable gamble. Given that all the major networks and streaming services were reducing their spending on content at that time, it left us wondering: What kind of market conditions would welcome a fresh competitor?

In the early days, Orefice remembers, “We had already started up, and I was in the office. There were only two of us there, and I’d come from a large corporation with a bustling environment. I found myself pondering, ‘We have some solid foundations, but how can we truly bring this idea to life? How long will it take before we see real progress?'”

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In the initial stages, Orefice recollects, “We were off the ground and I was in the office. It was just me and one other person, having transitioned from a vast company with a lively atmosphere. I was wondering, ‘With these good building blocks we have, how can we make this a reality? How long will it take before we see tangible results?’

Approaching the one-year mark, Orefice’s firm finds itself right smack in the middle of some of this year’s most influential pop culture events.

EverWonder was behind the highly successful Jake Paul vs. Mike Tyson fight that broke Netflix’s streaming viewership records, and they executive produced the NFL games shown on Netflix on Christmas Day. They also organized the Crypto.com Showdown golfing event, which aired on Warner Bros. Discovery’s cable channels and their Max streaming service. Additionally, they created the college sports-focused Players Era Festival that made its debut on WBD networks in November.

In addition to its journey, it also established a Mike Tyson documentary series for Netflix, produced the streaming service’s New Year’s special titled “Torching 2024”, and unveiled plans for numerous other documentaries featuring Chris Evert-Martina Navratilova, presidential parodies, and Princess Diana.

According to Zucker, Ian and his team have rapidly constructed an exceptional studio, reminiscent of a powerhouse. In only a year, EverWonder has risen to become one of the leading studios for top-tier nonfiction programming and live events. Their innovative ideas and adaptability have swiftly earned them industry-wide trust as a reliable collaborator.

Office exclaims, ‘I’m truly astonished and grateful!’ It’s unbelievable, almost exactly a year since it was just me and another person, sitting in an empty conference room, pondering the length of our journey.

However, success was achieved following a swift change in direction. Initially, EverWonder’s proposal focused on non-fiction elements such as documentaries and series, along with creating new intellectual properties like Players Era for multi-platform use. Yet, it’s indisputable that the shift towards live event production, largely influenced by Michael Antinoro’s appointment as president last year, significantly altered EverWonder’s course.

The company has shifted its primary emphasis towards live events, more than what we initially anticipated,” Orefice notes, highlighting the impressive lineup of productions EverWonder presented last year. “To be honest, if we had discussed this in 2023, I wouldn’t have predicted that we would have organized close to 20 global live tentpole shows and projects by the end of this year. We’re genuinely thrilled about this change in direction and our capacity to stay ahead in the industry trend.

According to Orifice, the company was meeting the need for its services from networks and streaming platforms.

He believes that every distributor and network aims to boost both subscriber and advertiser value within their respective systems. For instance, consider the cost of Tyson-Paul on Netflix against a high-budget scripted project. Hence, he suggests there’s still significant value in live sports for streamers and distributors. Furthermore, traditional broadcast and linear media are undergoing major transformations across the industry as a whole, but live sports and live content specifically, he thinks, offer the most effective way to capture immediate viewer interest.

That’s not to say EverWonder has abandoned its original ambitions.

It’s clear that the company aims to expand its intellectual property in the sports realm through Players Era, a platform that merges college athletics with chances for student-athletes to monetize their name, image, and likeness (NIL).

We greatly appreciate the backing RedBird IMI and Jeff Zucker have given us, but we must admit we don’t have an endless supply of funds,” Orefice explains. “Therefore, when we decide to fund a project, it’s not just about whether it will be profitable or not. It’s about the possibilities that arise once the project is launched. For instance, with Players Era, we now possess a brand that can venture into numerous aspects of college basketball.

He mentions that the possibilities are vast, nearly limitless, with what we can achieve using Players Era. Could we develop podcasts for Players Era? Perhaps create documentary series or even an entire apparel line? We’ve already introduced a female-focused extension of Players Era and will soon announce a global event series as well.

EverWonder remains committed to expanding its presence in the documentary genre. This includes the Tyson Netflix series, where Tyson himself is involved, as well as the Navratilova-Evert documentary. Notably, Orefice mentions that EverWonder also holds the rights for any scripted adaptations of this latter project.

He believes that documentaries about sports will prosper if they revolve around grand, iconic, significant, and unquestionable narratives. He also notes that more modest stories might struggle in today’s market compared to a few years ago. His goal is to create truth-based storytelling that captivates globally and serves as the foundation for new intellectual properties.

The significant shift in the company’s approach lies in transitioning from being a studio to functioning as an incubator. While EverWonder initially started life as a studio within the RedBird IMI collection, it is currently focusing on developing its own investment portfolio.

Last year, I was thrilled to learn about my gaming company’s collaborations! We teamed up with NBA on TNT analyst, Charles Barkley, for the launch of Round Mound Media. They’ve got around a dozen exciting projects in the pipeline, one being a documentary about Barkley’s life. Furthermore, we invested in Next of Kin Content, the production house of Sam Wrench, who directed the hit film Era’s Tour. Lastly, we signed a first-look deal with BZ Entertainment, a live entertainment powerhouse. It’s an exciting time for us as we expand our horizons in the world of content creation!

We have a proven history of creating intellectual property, establishing brands, and growing companies. Our goal is to share this approach with individuals such as Sam and Charles Barkley, providing them with a reliable partner who can help them avoid going it alone. Jeff Zucker, throughout his career, has been dedicated to brand development. Similarly, my career at Time and Sports Illustrated before that was focused on the same. We are thrilled that many of the world’s top creatives are once again turning to EverWonder, not just for collaborative projects, but for creating a lasting home together. This gives us a great sense of pride and optimism about our future.

2025 marks a period where the company plans to intensify its current approach. According to Orefice, EverWonder is poised for some mergers and acquisitions this year, with potential expansion into sectors such as podcasting and conferences.

According to Orefice, intellectual property (IP) becomes significant when people take an interest in it. One effective method of sparking interest is through fostering closer relationships. For instance, successful podcasts captivate their audience by building a strong connection with the hosts, guests, and topics. This emotional bond adds substantial value to IP. Similarly, personalized experiences at conferences or live events generate interest as they offer an intimate interaction. Orefice suggests that we’ll keep exploring innovative ways to create impactful intellectual property by cultivating meaningful relationships.

At a challenging period in the entertainment industry, where TV and streaming budgets are either stagnant or decreasing, EverWonder is set to implement a unique approach. Instead of focusing on dwindling sectors, they’re concentrating on areas that are still expanding. They believe that the risks they’re taking could amount to more than just their individual values, as there remains a robust demand for fresh intellectual property (IP), especially IP associated with sports.

Instead, they’re choosing to create something new, distinct from established brands such as SI or Time, opting for their unique venture.

Orefice expresses that despite many discussing difficulties and possible shrinkage within the industry, he remains highly confident and positive about its future. He believes that outstanding creativity will always prevail, and innovative business strategies offer producers unprecedented opportunities for success. While there are indeed hurdles, Orefice also emphasizes that for the right projects with the right strategies, there has never been a more thrilling moment to be a producer.

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2025-01-06 17:25