Stay UpdatedTBI Weekly: Unpacking the key trends for 2024
By
The Solar System With Brian Cox (Source: BBC)
The next 12 months will define the future of the content industry, as streamers, broadcasters and producers compete for survival in a landscape battered throughout 2023 by economic headwinds and strategic u-turns.
For some, this emerging ecosystem is presenting opportunities, with co-productions taking centre stage and distributors finding buyers increasingly open to flexible deal-making and more nuanced rights positions.
Julian Bellamy, MD, ITV Studios
Expect to see a fresh round of consolidation, mergers and acquisitions in 2024
Declining appetite for risk is also providing returns for those holding cut-through IP – or with access to A-List talent – but what about new ideas and the companies that are creating them?
Can already diminished budgets survive? How will streamer consolidation affect the business?
Will FAST provide meaningful returns outside of the US – and what will it all mean for the broader industry?
To find out what we can expect in 2024 and beyond, TBI spoke to industry leaders around the world to get their predictions for the year ahead.
Rob Wade, CEO, Fox Entertainment
“More openness to innovative co-productions both in the US and internationally. Companies that have primarily been reticent to third-party partnerships are increasingly seeing the value of working with other studios and platforms. The ultimate goal is a shared win.”
To read Rob Wade’s answers in full, click here.
James Burstall (Source: Argonon)
James Burstall, CEO, Argonon
“We recently announced a new CEO for our US business and further investment in our West Coast development team as we see the US market emerging from the industry downturn first, with the UK and the rest of the world to follow.
“Our strategy is to capitalise on the sector’s recovery as we align our business with the increased commissioning firepower of the West Coast buyers. We also anticipate a continuing thirst for content from FAST channels which is a big opportunity for content producers. And owning and exploiting IP will become increasingly important as the network / streamer funding model continues to evolve.”
To read James Burstall’s answers in full, click here.
Nomsa Philiso (Source: Multichoice)
Nomsa Philiso, CEO of general entertainment, MultiChoice Group
“We see people getting back into lighthearted content and that the television cycle is shifting back to content such as sitcoms that is easily consumed and offers cozy home viewing.”
To read Nomsa Philiso’s answers in full, click here.
Kate Beal, founder & CEO, Woodcut Media
“2024 will see the beginning of the ‘new normal’. After the technological disruption of the past few years, alongside the economic boom and bust within the industry, I’m looking forward to seeing how everything settles.
“Television is a constantly evolving industry with the rhythm of business changeable. We can look forward to a period of stability with the cost-of-living crisis easing, plus the streamers adopting a more pragmatic financing model alongside the recently merged mega-companies settling into their new way of working.
Tom Fussell, CEO, BBC Studios
The growth of the franchise as broadcasters and platforms double down on known and trusted IP
“The post-covid ‘boom’ will not return but it will certainly be better than our collective ‘bust’ year. That is until AI fully integrates into our workflow and prompts us into a new way of producing television altogether – changing everything again.”
To read Kate Beal’s answers in full, click here.
Marina Williams, co-CEO, Asacha Media Group
“I expect there will be some further consolidation on the streamer side, more non-exclusivity in product and studios/streamers licensing product to each other.
“There will also be more creative commercial models such as packaging deals, windowing both local and global rights.”
To read Marina Williams’s answers in full, click here.
Frank Spotnitz, CEO, Big Light Productions
“Aside from more co-productions? Less. Fewer shows will be produced, and those that are produced will see stagnant or smaller budgets.”
To read Frank Spotnitz’s answers in full, click here.
Daria Leygonie-Fialko (Source: Space Production)
Daria Leygonie-Fialko, founder, Space Production
“International studios will focus their efforts on making their DTC propositions profitable, spending their production budgets even more prudently, cutting on local productions and increasingly licensing their content to third parties. That will benefit commissioners as they will be spoiled for choice and could also pick and produce some of the projects in very advanced stages of development that were slashed by the streamers.
“Though the outlook for independent producers is bleak, it will encourage more comprehensive co-production models, which will offer opportunities for local creators to reach audiences beyond their territories.”
To read Daria Leygonie-Fialko’s answers in full, click here.
TBI’s 2024 Predictions strand will be running throughout January, to catch up with any articles you might have missed click below:
Nomsa Philiso, CEO of general entertainment, MultiChoice Group
Marina Williams, co-CEO, Asacha Media Group
Kate Beal, founder & CEO, Woodcut Media
Julian Bellamy, MD, ITV Studios
Daria Leygonie-Fialko, founder, Space Production
3 min read
