Scriptedpofc Octnov19.Indd
Total Page：16
File Type：pdf, Size：1020Kb
Insight on screen TBIvision.com | October/November 2019 | MIPCOM Issue Television Business International e Drama Trap Financing a hit 4 Writers revolt TBI Scripted Inside Kontrakt '18 12 ScriptedpOFC OctNov19.indd 1 03/10/2019 00:36 LAGARDERE_COMMANDO_TBI_COVER_def.indd 1 19/09/2019 15:49 BASED ON THE AWARD-WINNING NOVELS ON THE AWARD-WINNING BASED A NEW ORIGINAL SERIES p02-03 ITV Noughts & Crosses OctNov19.indd 2 02/10/2019 15:18 ITV0272_NOXO_TBIMipMain_IFCDPS_SubAW.indd All Pages 02/10/2019 14:08 BASED ON THE AWARD-WINNING NOVELS ON THE AWARD-WINNING BASED A NEW ORIGINAL SERIES p02-03 ITV Noughts & Crosses OctNov19.indd 3 02/10/2019 15:18 ITV0272_NOXO_TBIMipMain_IFCDPS_SubAW.indd All Pages 02/10/2019 14:08 Genre: Drama | Duration: 6x60' VISIT US AT MIPCOM, STAND R8.C9, RIVIERA 8 Catalogue: www.keshetinternational.com Contact us: [email protected] @KeshetIntl | KeshetInternational | @KeshetInternational ScriptedpXX Keshet Keeler OctNov19.indd 1 24/09/2019 12:49 TBI Scripted | This Issue Contents October/November 2019 4. Inside the multi-million dollar drama trap Contact us High-end scripted product has never been more lucrative but it also carries increasing risk, so how can producers and distributors navigate these challenging times? Editor Manori Ravindran [email protected] 8. Duking it out with global drama Direct line +44 (0) 20 3377 3832 TBI takes a trip to Ireland to find out about A+E Networks International’s uniquely Twitter @manori_r funded drama Miss Scarlet And The Duke. Managing editor Richard Middleton 12. When writers revolt [email protected] Creative talent might be in demand but writers from LA to Berlin feel they aren’t Direct line +44 (0) 20 7017 7184 being given the recognition they deserve. Contributor Kaltrina Bylykbashi, Tim Dams 16. Austen untold Adaptation stalwart Andrew Davies discusses filling in the gaps on his latest work. Sales manager Michael Callan [email protected] 20. Sally forever Direct line +44 (0) 20 7017 5295 Happy Valley and Gentleman Jack scribe Sally Wainwright on creative control, becoming complacent and working with streamers. Art director Matthew Humberstone [email protected] 24. Expanded thinking Direct line +44 (0) 20 7017 5336 Brazilian giant Globo has just spent $50m on a sprawling new studio complex, but what does it say about the broadcaster’s domestic and international ambitions? Marketing executive Abigail Dede [email protected] 28. Writer’s Room: Franck Philippon Direct line +44 (0) 20 7017 6018 The creator of Mirage, the first show fromm Europe’s Alliance of public broadcasters. Editorial director Stuart Thomson 34. Scripted Hot Picks [email protected] TBI’s take on the hottest scripted series shows heading down to Cannes for MIPCOM. Direct line +44 (0) 20 7017 5314 Commercial director Patricia Arescy 4 [email protected] Direct line +44 (0) 20 7017 5320 @TBImagazine Published by Informa Tech, Blue Fin Building, 110 Southwark Street, London SE1 0TA e-mail: [email protected] web: www.tbivision.com Printed in England by Walstead Roche Ltd, St Austell, Cornwall PL26 8LX. © 2019 Informa UK Ltd All rights reserved Reproduction without permission is prohibited October/November 2019 3 Scriptedp01 Contents OctNov19 RM.indd 3 02/10/2019 22:30 TBI Scripted | Drama financing Inside the multimillion-dollar drama trap Producing high-end scripted product has never been more lucrative, nor more risky. Richard Middleton explores how producers and distributors are balancing their options etflix CEO Reed Hastings might have sent becoming a crowded SVOD market, with scripted a his company’s share price down 6% last key part of the play. And then there’s the broadcasters, month when he alluded to the “whole which are just about managing to keep pace in an new world” emerging in streaming, but a increasingly pricey sector. Nmore populated SVOD universe is something scripted But unlike in the early days of SVOD, this growing producers and distributors have been awaiting for gaggle of buyers have been shifting the tectonic plates some time. of the global drama business by oering a variety of Entrants such as Apple TV, Quibi and HBO Max disparate models. While broadcasters by and large are just three deep-pocketed entrants poised to join remain unable to shift their budgets, those making incumbents Amazon and Netflix in what is fast and selling the content are adapting accordingly with 4 October/November 2019 Scriptedp04-07 Self Commissioning OctNov19MR RM.indd 4 02/10/2019 20:41 TBI Scripted | Drama financing drama financing models quickly changing as a result. normally oer development funding too, something “Not long ago, the ideal template used to be getting that Kousetta says is “crucial”. a greenlight from your broadcaster, who would fund “Most broadcasters are healthily funding something in the region of around 70% of your development. They understand the value of that and budget,” reminisces Hakan Kousetta, COO at State it is a godsend in terms of getting shows away,” he Of The Union and Top Of The Lake prodco See-Saw adds. “It is a big risk to spend that sort of money – and Films. we do it sometimes, we have to make that choice – “Then there’d be a tax credit of around 17-18% but if a broadcaster likes your idea, the concept and and then a distributor would oer 10-12% of your the writer, then normally they will be happy to fund budget. And there it is, that’s your fully financed development.” show.” Mandabach and Kousetta both agree, however, How times have changed. As streamers entered the that financing high end TV drama is now increasingly market, costs began to skyrocket and broadcasters reminiscent of the way independent films are put have struggled to keep up. together – and if it involves a broadcaster, the chances “Over the last few years, shows have almost are that the deficit will be large. doubled in price so it just doesn’t work anymore,” To date, distributors have tended to step into the Kousetta continues. While you might be able to get the void and take increasingly big risks to ensure projects same subsidy – or more, if you pick the right country can get o the ground, as highlighted by Entertainment to produce in – broadcasters’ budgets have remained One’s president of international distribution Stuart static, he says, meaning they tend to oer around Baxter, whose company sells shows such as ABC 35% of a budget. “And that means you need another drama The Rookie and Upright, from Australia’s broadcaster.” Lingo Pictures. This is the path See-Saw has chosen for 10-part “Deficits are absolutely growing because the euthanasia drama The End, which is set in Australia costs are escalating and the amounts being paid by and the UK. It will air on Fox Showcase on Foxtel in broadcasters aren’t going up,” he explains. Australia and Sky Atlantic in the UK and Ireland, as “This has increased the need to find early partners well as on streaming service Now TV, with Endeavor for those more expensive pieces in the form of co- selling globally. productions,” adds Cathy Payne, chief executive at “Most independent producers are finding that there Endemol Shine International, which has sold shows are two ways to go in this market: you can get a global such as Black Mirror to Netflix. “Higher budgets also SVOD commission and that is then generally a single bring increased focus on extracting value from subsidy source of financing and can pay su¡ciently to meet the financing and cashflow facilities.” rising costs of production and talent,” Kousetta says. Baxter says he breaks the current options to get “The other is to get a non-SVOD commission but shows o the ground into three categories. “There’s the the challenge, as everyone knows, is they don’t have model where you produce a show with low risk for a enough money to match what the SVOD pays. And streamer or network [that takes all rights] such as we that means for people like us, we have to look at co- did with Sharp Objects and Run with HBO,” he says. commissions to secure su¡cient funding to make the “We currently have other projects with Amazon and show at production level.” Apple with that model and it guarantees you revenue, It is a similar story from Caryn Mandabach, a certain amount of profit and means everything is who says she left the US for the UK to gain greater covered. It’s great but the upside on that project is ownership on shows. She now operates Caryn capped and limited.” Mandabach Productions (CMP) and one of her Yet while Baxter admits it is good to have a standout series, Peaky Blinders, has become a hit for smattering of such deals, he adds that he “wouldn’t the BBC and Netflix, which oers it in the US. personally want to have a production company that The series is into its fifth season but Mandabach says only had those types of shows on its book”. The days surging costs are making life tough for broadcasters of Netflix covering production costs plus 30% are by and producers alike. She admits the BBC in the UK is and large gone. the “greatest platform if you can possibly aord it” “You get a small return but how do you cover The days of Netflix covering but adds that the problem is “there are so many forces development for other shows and your overhead production costs plus 30% against you”. Central to these has been its inability to costs?,” he continues. “You don’t. The model is great are “by and large gone” increase budgets and compete with US entrants.