EXCLUSIVE: Netflix is developing a limited series adaptation of John Steinbeck’s classic novel East of Eden with Zoe Kazan writing and exec producing and Florence Pugh attached to star and co-produce.
02.06.2022 - 05:35 / deadline.com
Jeff Sagansky, a media investor and producer and former top entertainment executive, is sounding the alarm on the adverse impact the now prevalent “cost plus” business model has had on profit participation. The setup, originally introduced by Netflix and subsequently adopted by most major streamers and TV studios, reverses a decades-long practice of above-the-line talent on hit series being handsomely rewarded with a cut of the profits that continues to generate income for decades after the show’s creation.
In a blistering speech as part of a NATPE event Wednesday, Sagansky paints a bleak picture of what is to come if noone stands up to the new paradigm, including cratering buyout premiums and disappearing big overall deals, and issues a rallying cry for producers, writers actors and agents to go to the Justice Department and Congress “to argue against this anti-competitive behavior” in an effort to “level the playing field” in a way the government did in 1970 with the passing with the fin-syn rules. They will have to do that without their main ally as “the producer-studio bond…has been irrevocably broken.”
While there has been growing frustration in the creative community who have been privately bemoaning the demise of traditional backend deals, this is the first time I have seen a prominent industry figure publicly — and very bluntly — speak up against the new talent compensation scheme, calling this a “rotten time to be a producer in terms of being paid fairly for the work you are doing” and hinting at a possible collusion among the studios and streamers in imposing the model.
In the address, Sagansky, former President of CBS Entertainment and Sony Pictures Entertainment and former CEO of TriStar Pictures and Paxson
EXCLUSIVE: Netflix is developing a limited series adaptation of John Steinbeck’s classic novel East of Eden with Zoe Kazan writing and exec producing and Florence Pugh attached to star and co-produce.
Amidst lower-than-expected subscriber growth and a subsequent round of circa-150 redundancies, Netflix was all anyone wanted to talk about at this week’s Banff World Media Festival, and while the streamer’s head honchos stressed Business As Usual, sources from outside reported confusing messaging coming from Los Gatos HQ.
‘Allo Insiders, Jesse Whittock here. The sun is scorching out there in London today (I promise you this does happen occasionally), but I’ve stayed just cool enough to bring you a rundown of this week’s biggest stories.
EXCLUSIVE: Derek Tsang, who directed the Oscar-nominated Chinese drama Better Days, has signed with Anonymous Content for representation.
Zack Sharf Jerrod Carmichael issued strong words against Dave Chappelle as part of a new GQ magazine profile. Carmichael, who came out as gay publicly in his April HBO special “Rothaniel,” said his niece was the only one who texted him after the project debuted. “I see you.
The worldwide fascination with all things Korean has been proven by Best Picture Oscar-winner Parasite, Netflix smash Squid Game, and the record-setting popularity of music group BTS,to name just three exports that have made a powerful impact.
Comcast poised to make a big move?The cable and media giant has missed out on some snazzy acquisitions in recent years, failing to outmaneuver Disney to buy the bulk of 21st Century Fox’s entertainment assets and falling just short of nabbing WarnerMedia. Losing out on the latter stunned Comcast CEO Brian Roberts and NBCUniversal CEO Jeff Shell, who were enmeshed in planning how WarnerMedia would be integrated into their operations until Discovery landed their prize.And the company has been looking at Electronic Arts, though it appears that efforts to acquire the game-maker have stalled.
EXCLUSIVE: Prolific film and television producer Liza Chasin (Made For Love, The Lost City) has signed a first look deal with Endeavor Content to develop and produce premium, talent-driven television series through her 3dot Productions.
Netflix’s cutbacks have worried some in the industry that the content gold rush is ending. Producers at the “IP IQ” panel, sponsored by Deadline, at the Produced By conference, said there’s no need to worry. Girl From Plainville and The Dropout Executive Producer Liz Hannah, A&E Studios Head Barry Jossen, and UTA partner and Co-head of Media Rights Jason Richman said they don’t anticipate any slowdown in streamers needing content.
EXCLUSIVE: Jeff Frost, a 15-year Sony TV veteran, is stepping down as President of Sony Pictures Television Studios, a post he has held for the past five years. According to sources, his departure was a mutual decision. With the TV studio coming off a banner year — hitting an all-time high of over 50 produced series and making waves at the 2021 Emmys nominations — I hear Frost felt it was time to leave and start a new chapter. Frost just shared his decision with his staff; Ravi Ahuja, Chairman, Global Television Studios, announced Frost’s departure in a company email. (You can read both in full at the bottom of the post.)
Martin Dale ContributorFrance is the world’s third-biggest animation producer, according to data from the CNC, with 7,790 employees last year.A rising number of international productions, especially TV animation series, are flocking to France, attracted by its 30% tax rebate for international projects (TRIP) program.A higher 40% tax rebate is available for VFX projects with over €2 million ($2.14 million) VFX spend in France, with seven projects supported in 2021, including Ridley Scott’s “The Last Duel.”In 2021, animation repped 46% of all foreign production spend under the TRIP scheme, marking a 62% increase between 2019 and 2021.Demand for animation and VFX staff is surging in France with 16% job growth in 2021 alone. The number of TRIP-supported animation projects doubled between 2019 and 2021, and the number of all film and TV projects (fiction and animation) increased by 231%.
It became the speech heard around Hollywood — Jeff Sagansky’s blistering comments last week about the adverse impact the proliferation of the streaming-driven “cost plus” business model has had on profit participation struck a chord in the industry. A week after Deadline wrote about the media investor and producer’s speech at a NATPE event, the discussion over the issue continues, with agencies and unions mulling ways to step in and help the creative talent they represent.
Elsa Keslassy International CorrespondentNetflix has either reached or surpassed the required 30% local content quotas in major markets in Europe, ranking ahead of its global streaming rivals, according to a new study by Ampere Analysis. The programming quota applies to all streamers operating in Europe and is part of the Audiovisual Media Services Directive of the European Commission.Disney+, which launched in November 2019, is hovering around the 10% European content mark but has recently been ramping up commissions of local original productions.The study shows that Netflix in the U.K.
New research shows almost a third of Netflix’s European content now hails from the continent, as the effects of quota regulations and its push into local original content kick in. An Ampere Analysis study suggests the streamer is at or above the 30% European content in “almost all” European markets, though the figure is slightly below this mark in the UK, Ireland and France.
Jeff Bridges, in a rare small-screen role, stars in this psychological thriller as Dan Chase, an ex-CIA operative who’s been living off the grid for years. When an assassin tries to take him out, he must come out of hiding and reconcile with his past.
Netflix has added a content warning for the first episode of Stranger Things season 4 following a mass shooting at Robb Elementary School in Uvalde, Texas, on Tuesday, May 24.
Netflix is making some changes to Stranger Things season 4.
“Stranger Things” fans checking out the new season are being greeted with a warning.