MIPCOM’s Lucy Smith on MENA’s rise, navigating a ‘difficult’ market & the Content Innovation Awards

MIPCOM 2022

As the industry descends on MIPCOM, event director Lucy Smith reflects on shifting US studio strategy, the rise of MENA and navigating the “difficult” market environment.

As most of those flying into Cannes this weekend will tell you, the industry has been through the mill a bit recently.

Lucy Smith

Having emerged from the pandemic, the industry seemed to be poised for growth. But then Wall Street shifted its definition of success, the US studios had to react and the entire business has been in flux ever since.

Being the biggest market for the industry, MIPCOM always reflects these trends. This year is no different, with the Palais and its beachfront drags once again populated by US studios and European majors, all hustling to reel in revenue – but as our format columnist Siobhan Crawfird asked recently, does anyone have any money?

“Of course, we all are aware that the market is difficult right now,” MIPCOM director Lucy Smith tells TBI. “But the fact that there are all these buyers – 3,500 of them – coming, you have to imagine that they have something to spend. Otherwise, why would they attend?”

That will certainly be the hope of all those adding the final touches to their stands today, although it seems fair to assume that there will be a less bullish attitude to the business than 12 months ago.

Anecodtally, it seems almost all companies that landed in 2022 will be here this year, but quite a few are trimming the number of people in attendance – although there are still expected to be in excess of 100 countries represented with overall numbers coming in around 2022 levels.

“There are some companies that maybe are not bringing as big a group as they may have done in the past, we’re seeing a little bit of that,” Smith admits, but adds that with 11,500 attendees from more than 100 countries heading into town, Cannes will have a buzz.

There will are also some noteworthy speakers alongside the market element, with Paramount Global topper Bob Bakish repping the US studios alongside Warner Bros. Discovery’s international chief Gerhard Zeiler, who will explain the latest strategy from his giant firm.

Laura Fernández Espeso, CEO at The Mediapro Studios, will also be in town to no doubt talk up Spain’s increasing global reach, while Zhonghuai Sun, CEO of Tencent Online, should offer a fascinating talke on his business.

MIPCOM 2022

“And there may well be some good news coming out of the market, I mean, the strikes are over and there’s hopefully a more positive, more buoyant feeling now.”

MENA & US studios growth

One particular area from where MIPCOM is seeing growth is MENA, where players such as MBC Group and its streamer Shahid have been increasingly looking at global growth opportunities.

“We’ve certainly seen an increase in presence from those from the Middle East, attendees are up around 20% this year,” Smith says.

“It’s mainly from countries such as Saudi, the United Arab Emirates and Qatar, with the idea to promote their territories as a hub, with film and TV commissions looking to bring more companies there, and to develop their global image on the international stage.”

Smith adds that buyers from the region are also increasing in number, with more than 160 from the region – an uptick of 50% – but producers and distributors are also loking to the international market for growth.

“There are a lot of really big catalogues full of really great shows and interesting content, and then we have some [kids content] companies out of Bahrain, some exhibiting for the first time.”

Another country’s industry descending on Cannes this time around is China, with many attendees landing back in France for the first time since 2019.

MIPCOM 2022

“It’s country of honour this year of course and we’re expecting 300 or 400 delegates,” Smith continues, adding that high-ranking government officials are also in town.

Content Innovation Awards partnership

Alongside China’s return to Cannes this year comes TBI’s Content Innovation Awards, which are back in the French Riviera for the first time since 2019 following the pandemic – and this time in partnership with MIPCOM.

“I’m really happy with this partnership, we know that these Awards have always stood for innovation and celebrating the best content, so it’s absolutely the right place to hold them,” she says.

“Innovation is so important to the market, we know that the TV industry is always reinventing itself.

“And, you know, what better way is there to celebrate the last night of MIPCOM than enjoying all these shows and celebrating together.”

TBI’s Content Innovation Awards take place on Wednesday, 18 October at the Palais Des Festivals. It is free to attend with a MIPCOM badge – to speed up entry, pre-register here.