Regarding new content acquisition and licensing models, executives from 108 Media, EST Media Holdings and Beach House Pictures discussed new trends to produce and guarantee the output of content. The session brought together Donovan Chan of Beach House Pictures, Justin Deimen, President of 108 Media, and Tenten Wei, Head of Studios at EST Media Holdings, Inc., with Naman Ramachandran from Variety moderating.
Addressing the intricacies of unscripted content, Chan highlighted the complexity of working with formats, particularly given the vast number of formats saturating the market. Acknowledging the challenges, I have emphasized the importance of being strategic when dealing with formats. ‘You’ve got to be smart with formats’, he remarked. I have suggested piloting with the trust of a channel partner, cautioning about the difficulties faced by independent producers in owning outright formats. According to the exec, originating formats is tricky in today’s competitive market, and a unique proof of concept, aligned with the channel partner’s trust, becomes imperative for success.
On the other hand, shifting the focus to the changing dynamics of formats in recent years, Deimen shed light on the exposure-centric approach. With the decline of pay TV, the exec stressed the importance of having formats on multiple channels and platforms to build strong brands. ‘You actually dare to make the brands happen’, he asserted. They advocated for a co-production model where different buyers and platforms contribute to the exposure of formats, turning them into co-productions. ‘There’s a potential for public broadcasters to play a role in facilitating co-productions across regions, despite challenges tied to existing content strategies,’ he added.
Meanwhile, Wei offered a perspective of a distributor, shared insights into the financial challenges faced by producers, especially in the realm of documentaries. He highlighted the need for producers to secure additional funding through grants and donations, a common practice in documentary filmmaking. I have stressed the importance of understanding the goals of making a documentary, whether to appeal to potential buyers, secure donations, or generate revenue through various means.
