Mipcom 2024: Unpacking U.S. cost challenges and the rise of NCIS

As the bustling heart of the global TV industry, Mipcom 2024 in Cannes attracts creators, producers, and stars alike, all converging to discuss the future of television. This year, the event saw an impressive 10,500 delegates in attendance, although down slightly from the previous edition. Despite this minor dip, Mipcom remains the premier marketplace for TV sales and production worldwide, underscoring its continued influence and relevance.

The allure of NCIS and new shows

Mipcom 2024 was nothing short of a star-studded affair, with prominent figures like Cote de Pablo and Michael Weatherly promoting the NCIS spinoff, “NCIS: Tony & Ziva.” Another standout was “Rise of the Raven,” a sword-and-mace epic that has generated significant buzz. These highlights, alongside other emerging shows, kept the conversations dynamic and forward-looking.

Is the U.S. pricing itself out of the market?

The question many industry insiders grappled with during Mipcom was stark: “Is the U.S. pricing itself out of the market?” Sony Pictures Entertainment CEO Tony Vinciquerra provided a sobering perspective as he accepted his award, mentioning that the financial demands of the unions are pushing productions overseas to regions offering lower costs and substantial incentives. Countries like France and Spain have become attractive hubs for filming, thanks to their tax rebates and lower crew costs, a trend that is likely to persist as productions seek cost-effective solutions.

The transformation of streaming: The broadcastification trend

A significant shift noted at Mipcom is the burgeoning “broadcastification” of streaming. As streaming giants like Paramount+ venture into long-established franchises like NCIS, there’s a clear alignment towards traditional broadcasting formats. According to Guy Bisson of Ampere Analysis, streaming revenue without advertising is projected to grow by 27% by 2029, but with advertising, it could soar by 46%. The resurgence of crime and medical procedurals exemplifies this trend, as they consistently draw in audiences week after week.

The economics of selling content: High stakes in a competitive market

At Mipcom, the business wheels were unmistakably in motion, with notable sales such as Eddie Redmayne‘s thriller “The Day of the Jackal” being acquired in nearly 200 territories. However, many producers shared harrowing tales of disappointing sales prices, a stark contrast to the peak TV bubble era. While numerous productions were sold, the lucrative deals of the past have given way to more conservative offers, often falling short of initial expectations.

Rising production costs: A persistent challenge

High production costs continue to be a significant hurdle for creating premium scripted shows. As productions vie for viewer attention through high production values and stellar talent, budgets inevitably swell. International collaborations are becoming a popular solution, with producers navigating budget constraints by splitting rights within territories and securing separate deals for free TV and pay TV windows.

Co-production: A strategic answer to soaring budgets

In response to escalating costs, co-production and early-stage collaborations have become more common. Jamie Lynn from Fremantle noted a shift towards partnerships to alleviate financial pressures. Similarly, Amanda Turnbull from Rise Studios emphasized the importance of collaborative efforts, advocating for pragmatic approaches to rights distribution between streamers and traditional broadcasters.

Unscripted content: A golden age

The pandemic and recent Hollywood strikes have propelled unscripted content into the spotlight. As script-based productions stalled, broadcasters turned to unscripted formats to fill the void. The increase in demand has elevated the production value of these shows, which are now recognized for their entertainment value and lower production costs.

Thriving formats and new adaptations

Mipcom 2024 saw a surge in format adaptations and reboots. Noteworthy mentions include the adaptation of “The Traitors” in South Korea and Amazon Prime’s expansion of “LOL: Last One Laughing” into “LOL in Real Life” in France. This trend underscores the industry’s increasing creativity and innovation in unscripted programming.

The book-to-screen phenomenon

Adapting literary works for the screen is a time-honored tradition that has seen renewed vigor. Recent notable adaptations, such as “Slow Horses” and “Shogun,” highlight the feverish demand for literary IP. The competitive landscape often sees fierce bidding wars, even for unpublished manuscripts, demonstrating the immense value placed on source material. High-profile projects like Nicole Kidman-led “Here One Day” and multiple “Pride & Prejudice” adaptations by Netflix exemplify this enduring trend.

Lighter crime procedurals: A new narrative tone

Crime dramas remain a mainstay at Mipcom, but their tone is evolving. Shows like “The Crow Girl” incorporate lighter elements by juxtaposing the grim aspects of crime with personal, often humorous subplots. Similarly, “Recipes for Love and Murder” adds a comedic twist to the crime genre, making such procedurals more appealing to a broader audience.

For those wanting to delve deeper into these trends or catch the latest trailers, visit trailers.movieetv.com. Share your thoughts and join the conversation on our social media channels for continued insights and discussions on the evolving landscape of TV and film.## Mipcom 2024: Challenges, opportunities, and NCIS resurgence

Mipcom 2024 in Cannes has once again lived up to its reputation as the heart of the global TV industry. This year, the convention drew an impressive 10,500 delegates, slightly fewer than last year, but it remains the world’s largest marketplace for TV sales and production. A mix of Hollywood stars, industry veterans, and emerging talent converged to discuss the future and navigate the complexities of today’s entertainment landscape.

NCIS shines among new releases

The event was graced by Cote de Pablo and Michael Weatherly, who were promoting their spinoff “NCIS: Tony & Ziva”. This new installment in the beloved franchise grabbed much attention, showcasing how established IPs can continue to evolve. Alongside, “Rise of the Raven,” a gripping sword and mace epic, also created a considerable buzz among attendees.

The economic puzzle: U.S. production costs

A major topic of discussion was the rising cost of U.S. productions. With union agreements pushing costs higher, many productions are shifting to countries with lower expenses and enticing tax incentives. This trend, seen in European countries like France and Spain, who have introduced rebates and incentives, evidences a strategic pivot in global production dynamics.

Streaming services adopt broadcast strategies

Guy Bisson from Ampere Analysis highlighted the growing trend called ‘broadcastification.’ This phenomenon describes how streaming platforms, akin to traditional broadcasters, are increasingly relying on advertising to boost revenues. Long-running procedurals, such as those in the NCIS franchise, are being favored as they ensure steady viewership and consistent engagement over time.

Sales dynamics: Quality vs. quantity

Mipcom saw a slew of transactions that kept the business wheels turning. While major deals like the near 200-territory sale of “The Day of the Jackal” and Eddie Redmayne’s thriller announced by NBCU were noteworthy, there was a palpable concern about the economics behind many sales. Producers aiming for the high budgets of the peak TV era often face a stark reality with current platforms offering much lower sums.

Soaring production costs and creative solutions

High production costs remain a formidable challenge, particularly for premium scripted shows. As productions aim to captivate audiences with top-tier values and VFX, budgets climb. One strategic response is co-production. Companies are increasingly forming partnerships early on, sharing costs and splitting rights within territories to ensure projects come to fruition.

The rise of unscripted content

Unscripted content has witnessed a golden age, fueled by the pandemic and recent Hollywood strikes. Unscripted shows, long considered secondary, are now recognized for their high drama and budget-friendly nature. During Mipcom, it was clear that formats and reboots are thriving, with adaptations like “The Traitors” in South Korea and Amazon Prime’s “LOL in Real Life” in France leading the charge.

The book-to-screen surge

Demand for literary IP remains fervent. Many current hit shows originate from novels, with bidding wars often breaking out before a book is even published. High-profile adaptations like Nicole Kidman’s “Here One Day” and Netflix’s recurring takes on “Pride & Prejudice” epitomize this trend. Recent shows like “Slow Horses” and “Shogun” reinforce the growing importance of book adaptations in the TV industry.

Lighter crime procedurals: A burgeoning trend

Mipcom revealed a growing interest in lighter-toned crime procedurals. Shows are blending serious crime elements with more personal, often humorous subplots. “The Crow Girl” introduces a female detective balancing her professional life with chaotic personal situations. This trend emphasizes balancing intensity with lighter elements, making crime dramas accessible to a broader audience.

Expanding English-language productions

There’s a noticeable push towards English-language productions, especially from non-English-speaking regions. Major players like Fremantle and Federation Studios are investing heavily in such projects. Titles like “Sherlock and Daughter,” “I, Jack Wright,” and high-concept procedural “Curfew” signal this shift. Meanwhile, Mediapro Studio has made waves with its robust English-language slate, featuring stars like John Turturro and Melissa Leo.

For more about the latest releases and industry insights, visit trailers.movieetv.com. Join our community on social media to keep up with discussions and updates on the evolving entertainment landscape.

Nostalgia in modern TV

Mipcom 2024 also highlighted the industry’s nostalgic turn. Iconic game shows like the BBC’s “The Weakest Link” were prominently featured, reminding us of TV’s rich past. Reboots continue to be a theme, with France TV collaborating with Paramount+ on a new “Zorro” series and Warner Bros. developing a game show based on “Friends.”

Spain’s acclaim as a TV powerhouse

Spain, honored as the Country of the Year, has firmly established itself in the European TV landscape. Boasting significant streaming revenue and leading in non-English language originals, Spain’s creative output is thriving. The country’s influence has been recognized through various studies, showcasing its undeniable impact on global television.

European streamers on the rise

European broadcasters are not sitting idle. Platforms like BBC’s iPlayer are expanding their catalogs, offering a richer selection than some global streamers. This adaptation is paying off, attracting younger audiences and increasing viewer engagement.

As Mipcom 2024 winds down, it’s clear that the television industry’s landscape is ever-evolving. Whether through innovative streaming strategies, nostalgic reboots, or navigating economic challenges, the industry continues to adapt and thrive in a dynamic environment. Keep following for the latest trends and news in the world of TV and entertainment.# Inside Mipcom 2024: A snapshot of the evolving TV industry

Mipcom 2024 in Cannes once again proved why it’s the epicenter of the global TV industry. With 10,500 delegates filling the halls, slightly fewer than last year, Mipcom remains the ultimate venue for TV sales, networking, and trend-spotting. From high-profile appearances to groundbreaking announcements, here’s a comprehensive look at the key highlights.

Stars and blockbuster shows steal the spotlight

The conference was a hub of excitement, particularly with the prominent presence of Cote de Pablo and Michael Weatherly showcasing the much-anticipated “NCIS: Tony & Ziva”. This spinoff continues the beloved franchise’s legacy, promising new depths and thrilling arcs. Another highlight was “Rise of the Raven,” a grand sword-and-mace epic that piqued the interest of many attendees.

Cost conundrums: The shifting economics of U.S. productions

One of the most pressing discussions at Mipcom revolved around the rising costs of U.S. productions. The increasing financial demands from unions are pushing more productions to lower-cost regions with attractive tax incentives. Countries like France and Spain have become significant players, offering rebates that make filming more economically viable.

Streaming evolution: Embracing the broadcast model

A notable trend at Mipcom was the “broadcastification” of streaming platforms. Streaming services are increasingly adopting traditional broadcast strategies, incorporating advertising to boost revenue. This shift is influencing content decisions, favoring long-running procedurals like NCIS that consistently attract viewers.

Unpacking the business of content sales

Sales dynamics at Mipcom underscored the complex nature of the current TV landscape. Major deals like the near 200-territory sale of “The Day of the Jackal” and significant transactions for Eddie Redmayne’s thriller were testament to ongoing business fervor. However, many producers face financial adjustments, as current market conditions often yield lower revenue than expected during the peak TV era.

Navigating rising production costs: Strategic collaborations

High production costs continue to challenge the creation of premium content. The emphasis on high production values and star power drives up budgets. In response, co-productions and early partnerships are becoming essential, allowing producers to share costs and rights across different territories more effectively.

The ascendancy of unscripted content

Unscripted content is experiencing a golden age, amplified by the pandemic and recent Hollywood strikes. Previously considered secondary, unscripted shows are now appreciated for their engaging drama and cost-effectiveness. Mipcom highlighted successful formats and reboots, such as “The Traitors” in South Korea and the expanded “LOL in Real Life” by Amazon Prime in France.

Literary adaptations: From books to screens

The appetite for literary IP remains robust. Popular shows often originate from novels, with intense bidding wars occurring even before a book’s publication. High-profile projects like Nicole Kidman’s “Here One Day” and fresh “Pride & Prejudice” adaptations by Netflix illustrate this trend. Shows like “Slow Horses” and “Shogun” demonstrate the continued demand for book-to-screen adaptations.

Shifting tones in crime procedurals

Mipcom 2024 revealed an emerging trend of lighter crime procedurals. Balancing intense crime elements with personal, often humorous subplots, shows like “The Crow Girl” feature detectives juggling professional challenges with quirky personal lives. This shift aims to attract a broader audience by adding a relatable, lighter dimension to traditional crime narratives.

English-language productions on the rise

There is a clear surge in English-language productions, as non-English-speaking regions increasingly enter this market. Industry giants like Fremantle and Federation Studios are leading this charge. Titles such as “Sherlock and Daughter,” “I, Jack Wright,” and “Curfew” embody this trend, while Mediapro Studio’s robust slate features stars like John Turturro and Melissa Leo.

For more information about the latest releases, visit trailers.movieetv.com. Stay connected with us on social media for ongoing discussions and updates on the fast-evolving entertainment landscape.

Nostalgia meets modern TV

Mipcom’s emphasis on nostalgic themes was clear, with iconic shows like “The Weakest Link” featured prominently. The industry’s penchant for reboots continues, with forthcoming projects like the “Zorro” series by France TV in collaboration with Paramount+ and a game show inspired by “Friends” by Warner Bros.

Spain’s recognition as a TV powerhouse

Honored as Country of the Year, Spain has solidified its status in the European TV industry. With leading figures in non-English language originals and significant streaming revenue contributions, Spain’s creative impact is undeniable. Recent studies underscore its growing influence and robust output in the global television market.

Evolution of European streaming platforms

European broadcasters are rising to the challenge, with platforms like BBC’s iPlayer significantly expanding their offerings. These services are now attracting younger audiences, showcasing an evolving media consumption landscape. BBC iPlayer, for example, sees higher daily viewership compared to global giants like Netflix and Disney+.

Mipcom 2024 showcased the dynamism and resilience of the television industry. Whether through adopting innovative streaming models, embracing nostalgia, or navigating economic challenges, the industry continues to thrive and evolve. Continue following for the latest trends and insights in TV and entertainment.