Festival In Focus: As Peak TV Moves To Peak Caution, The Battle For IP Is On — “Producers Need Deep Pockets”
28.02.2024 - 17:43
/ deadline.com
Peak intellectual property doesn’t have the same ring to it as peak TV. Drama based on tried-and-true ideas, however, removes risk for commissioners in challenging international markets and is in vogue. But producers be warned: the best ideas don’t come cheap.
The volume of TV drama ordered will increase in 2024 according to analysts, but it will remain way off the Golden Era highs. The well of money for scripted TV hasn’t run dry, but it’s no longer overflowing.
The Series Mania Forum is engineered for market shifts with its international co-production strand feeling more relevant than ever. Laurence Herszberg, Founder and General Director of Series Mania, said the industry element of the Festival is a toolbox for professionals. One tool it will add this year is a new IP market. The dedicated space will allow IP owners to press the flesh with the 4,000 TV folk expected in Lilles in March.
“Everyone is looking for IP because, of course it’s faster to develop, you know that there is already a community of fans and it’s less risky than starting from an original idea,” said Francesco Capurro, Director, Series Mania Forum. “Seeing that, we decided this year to open an IP market in the Forum. It will be a place where we will organize matchmaking meetings with book agents, podcast creators, publishers and people who have IP to sell.”
Analysis from K7 Media showed that in the 2021-2022 TV season, 42% of U.S. series launches were based on some form of IP. The figure was 28% for the rest of the world. The downward trajectory in the volume of drama commissioning since means the totals are likely to be higher in today’s cautious market.
Using road-tested source material can break through the clutter but it often comes with a