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TBI’s 2024 Predictions: Lucy Smith, director of entertainment, RX
By
Lucy Smith
2024 is set to be a pivotal year for the global content industry, so TBI has enlisted some of the biggest names in the business to share their thoughts on the major trends of the next 12 months and how they’re going to capitalise on them.
Here, Lucy Smith, entertainment division director at MIP Markets organiser RX France, talks the post-streaming landscape, DE&I within the industry and the impact of a potential Paramount sale.
What is the biggest growth area for your company this year?
MIPCOM Cannes continues to grow. In 2023, we nearly rebounded to pre-pandemic levels and demand for MIPCOM 2024 is already surpassing expectations.
Growth will come not just from our core distribution business – we see lots of room for growth from new companies and entrants supporting FAST, AVOD and AI, for example. MIPTV 2024 is already poised for a strong return in April 2024. We have confirmed nearly 70 exhibitors, and we are way ahead of stand renewals vs this time last year.
We know the Lat Am schedule is more competitive, but MIPCANCUN is also showing strong demand for renewals for our 11th edition next November. I’m as clear as ever on our promise that when you come to a MIP Market, be it MIPTV, MIPCOM CANNES or MIPCANCUN, we are laser-focused to bring the world to you to help build your business.
What is the key trend going to be in 2024?
I never make predictions for the content industry. But trends often portend patterns which usually lead to real evolution in our industry. With that said I am focused on two trends that I think will have a big impact: to me the biggest trend is what’s happening as a result of the post-streaming boom hangover, and I am especially focused on the news that streaming competitors are looking to bundle their services. The early stage talks by Paramount and Apple to bundle their streaming services at a discount is just the canary in the coal mine. These types of relations between competitors are bound to lead to new partnerships or mergers we can only imagine from today’s vantage point. The other trend I am following is the rebound of third-party licensing. Paramount Global CEO Bob Bakish made this the central theme of his message in Cannes in October as our MIPCOM 2023 Personality of the Year, and look at even the recent news in TBI about ProSiebenSat.1 ending its output deal with Hollywood opting rather to license content as needed.
What is your New Year’s resolution and why?
To continue to use the unique opportunity when the global television community is gathered at the MIP Markets to accelerate progress in sustainability, diversity and inclusion. I was privileged to be a part of the SDG Summit staged at the United Nations last September and saw first-hand how critical collective action is to achieve those goals – for us it’s about providing the global platform to highlight those companies and individuals who are making an impact and showcasing such initiatives and ingenuity to inspire their international peers to do similarly. For example, for the first time we’re inviting entries for The MIP SDG Award, established with the UN, which will be presented again in a special session in Cannes on stage at MIPTV in April – submission forms are on the website!
What will be the biggest headline (not involving your own company) in 2024 and why?
I think if a sale of Paramount is announced in 2024 this would reshape the content and production industry. It’s an iconic studio.
What show are you most looking forward to in 2024?
That’s easy: The Diplomat season two. I am a huge fan of Keri Russell since she appeared on stage at MIPCOM for the world premiere of The Americans. I love the genre of international politics and diplomacy and Russell’s grit as Ambassador Kate Wyler is revelatory in terms of female roles. The Diplomat season one ranked in the top 10 of Netflix most watched programmes in 2023 for good reason.
Read more from TBI’s 2024 Predictions
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
Rob Wade, CEO, Fox Entertainment
Frank Spotnitz, CEO, Big Light Productions
David Michel, president and co-founder, Cottonwood Media
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