Disney to Spend $1B a Year in Europe, Warner Bros. Discovery Exec Looks to 2026 Max Launch in U.K.

As a seasoned gamer hailing from the heart of Europe, I can confidently say that the U.K.’s status as a production powerhouse is a boon for our creative industries. The investment poured into this market by giants like Disney and Warner Bros. Discovery has not only fueled the growth of local jobs but also ignited a spark of inspiration among budding creators.

It’s widely acknowledged that the U.K. continues to be a significant hub for production, as evidenced by the praise from TV executives like those from Warner Bros. Discovery, Sky, Disney, and Paramount Global at the Royal Television Society’s convention in London on Tuesday. They highlighted the positive ripple effects of investments made within the British market, as well as the broader European one.

During their discussion, Nami Patel, senior vice president of strategy and business development at The Walt Disney Company EMEA, along with Sarah Rose, president of Channel 5 and the U.K. regional lead for Paramount, consistently focused on investing in the thriving creative sector of the United Kingdom.

Over the past five years, Patel stated, we’ve invested approximately £3.5 billion in this specific market. Moving forward, we anticipate allocating around a billion pounds annually for the next five years. She further explained that our investments over the past five years have contributed to sustaining about 32,000 jobs within this sector.

Notable films such as Deadpool and Wolverine, starring Ryan Reynolds and Hugh Jackman, were filmed at Pinewood Studios in London. This investment has a significant ripple effect on the creative industries, providing substantial support. However, it’s important to acknowledge that there are challenges. We’re actively engaged at the ground level, collaborating with institutions like the British Film Institute (BFI), the National Film and Television School, and others, to foster skills and attract new talent to the industry. The field is constantly evolving at a rapid pace.

Warner Bros. Discovery U.K. and Ireland president Andrew Georgiou confirmed that the streaming service Max (previously known as HBO Max) will undoubtedly debut in the U.K. by 2026. However, he noted that the key question is which partnership will be chosen for this launch. He hinted at potential discussions with Sky, mentioning that they have a long-standing, successful collaboration with Max. Sky Studios CEO Cécile Frot-Coutaz echoed this sentiment, expressing optimism about their ongoing partnership.

Georgiou praised WBD’s Paris Olympic coverage following their successful acquisition of exclusive TV rights in Europe, noting a doubling of linear audience: “We saw a 100% increase in viewership,” Georgiou stated. “We aired the Olympics in 47 markets and used 19 different languages… It was an enormous logistical undertaking and challenge for us. It surpassed all our expectations on every platform. Our performance was exceptional.

A group of four people talked about how content focusing on local tales tends to be successful. “I’m confident that if you ask Netflix, they would admit they’ve attempted to replicate Squid Game a thousand times without success,” Georgiou stated. “It’s an authentic local story that appealed to a global audience… Local productions play a significant role in powering these streaming services.

As a devoted admirer, I’d like to echo Frot-Coutaz’s sentiments: “It all comes down to the creator and their authentic message.” The remarkable aspect about streamers is that they’ve given a platform to shows that may have otherwise gone unnoticed. This is commendable, but it’s important to remember that this isn’t the norm; it happens occasionally. Ultimately, most of what we create is tailored to our local audience.

The RTS London Convention is taking place at Kings Place in the U.K. capital all day Tuesday.

2024-09-17 13:55

Read More