The scripted TV industry is gearing up for a mammoth Mipcom (October 17-20), where the cost of producing drama, the launch of ad-funded streamers and a deteriorating economic environment will be key talking points.
A reliable Mipcom bellwether is the number of outdoor pavilions booked at the Cannes TV market — in good times they proliferate alongside the Palais des Festivals.
This year, the signs are clear: it is going to be busy. The outdoor builds are back for the first time since 2019 as the TV industry’s major global studios and distributors return in force, post-pandemic. More than 300 exhibitors are now confirmed; most are returning with pre-pandemic-size stands or larger, according to Mipcom.
Distributors are clearly gearing up for a strong Mipcom. “It will be the reunion we’ve all been looking for,” says Ruth Berry, managing director of global distribution at ITV Studios, which returns to Mipcom with its two-storey outdoor pavilion manufactured from shipping containers, as well as shows including World Productions’ tennis drama Fifteen-Love, Scandi noir Blackwater and relationship drama You & Me. “From a distribution perspective, it’s a strong market at the moment — I think people are genuinely turning up to buy.”
“We’re there in full force,” adds Rebecca Dundon, SVP scripted content, international at Fremantle, which is launching dramas including BBC3 mystery thriller Wreck, RTE and IFC dark comedy Sisters and CTV drama Sullivan’s Crossing.
Beatriz Campos, SVP global sales and production financing at Studiocanal, suggests the market will be as busy as the pre-Covid era. Studiocanal is bringing all its executives to Cannes — including those from Australia and Latin America for whom it will be their first Mipcom in three years. The France-based distributor’s slate includes dramas such as Canal+ thriller The Night Logan Woke Up, Sky and Canal+ western Django, and Dutch thriller The Crash.
Large contingents are expected from most countries, bar some Asian territories where Covid restrictions are still in place. Prentiss Fraser, EVP of television distribution at Fifth Season — the new brand name for Endeavor Content — says her schedule is already full: “There’s definitely no shortage of buyers.” Fifth Season’s Mipcom slate spans the Jack Thorne-penned Best Interests starring Sharon Horgan, as well as The House At The End Of The Street starring Shirley Henderson and season two of RTE gangland drama Kin.
The pecking order
For many, this year’s Mipcom will be the first time to visually gauge the distribution landscape since Covid struck. The market took place last year, but it was a Mipcom-lite edition as many stayed away or took part remotely.
The return of a full-fat Mipcom will allow distributors to set out their stalls in public in a way that has been missing during the hybrid era. In that period there has been plenty of industry change and consolidation, such as Discovery’s merger with Warner Bros. As a result, there will be different pavilions on display; pecking orders will have changed. “The beauty of a market like Mipcom is that you get a sense of scale for the competition and who’s got what — you can’t get that virtually,” says Berry. “It’s an opportunity to restake the ground a bit.”
Almost three years of hybrid working has changed the way business is done at markets like Mipcom. Distributors are now in contact virtually with buyers throughout the year. Dundon talks of a “360 degree” digital approach, with Mipcom as “a pillar of this year… it feels like a real moment to all come together again.”
Most distributors now give buyers the opportunity to review content before Mipcom. Fifth Season, for example, launched its slate virtually in mid-September, and has followed this up with visits to 10 cities to screen episodes for buyers. “By Mipcom, people have seen the shows. They know what’s on offer,” says Fraser. “We’re going to close [at Mipcom] or close before and celebrate there.”
It is a big change from how things operated in years gone by. Sales executives used to compete to see how many deal memos they could get signed in a market. “Slowly, over the course of time, Mipcom has become a lot more social. It’s become a place to launch programming, to showcase your brand, and maybe less transactional,” says Fraser.
Red-carpet screenings are now a regular feature, with highlights this year including the premiere of Hugo Blick’s western The English starring Emily Blunt, which is repped by All3Media International. There are keynotes too from the likes of Fremantle group CEO Jennifer Mullin, BBC director general Tim Davie, Amazon Studios head Jennifer Salke and Banijay CEO Marco Bassetti.
New for 2022 is The Seaview Producers Hub, a 1,000-square-metre event space focused on development, co-production and funding partnerships, reflecting a push by Mipcom to become a home for those looking to set shows up as well as those selling them on. Mipcom will also be an opportunity for distributors, buyers and producers to swap notes about the state of the TV market. For scripted executives, the talk is likely to focus on the rising cost of making TV drama.
“The biggest challenge facing the majority of our producers is the escalating cost of production, and the intense competition for both cast and crew,” says Dundon.
“Cost inflation is outstripping sales inflation and we’ve got to find a way to keep funding and financing shows,” says Berry. “There’s going to be a fair undertone at Mipcom around that conundrum.”
Buyers have, of course, become more cost-conscious in recent months amid a deteriorating economic climate. There is talk of acquisition freezes among buyers who are consolidating, while some streamers are rethinking programming priorities. In such circumstances, middle-range programming might take longer to sell. Says Dundon: “When purse strings are being tightened, it’s the must-have, marketable and talent-driven content that rises to the top.”
That said, demand is likely to be strong for scripted content both from global streaming platforms and traditional broadcasters who have their own local streaming services to fill. “Streaming requires a load more content, it just does,” says Berry. “You have to up your volume in the streaming world so there is still this insatiable hunger for content.”
“We continue to see a growth in the OTT arena,” says Studiocanal’s Campos, citing new platforms launching in different territories, such as Paramount+ or the Sky Showtime joint venture. She adds that distributors like Studiocanal are also “very protective of the local platforms and linear channels that have been supporting our catalogue over the years”.
Dundon says Fremantle has sold out around the world on BBC1 thriller Crossfire and Sky’s This England, starring Kenneth Branagh as Boris Johnson. “We’re not finding we can’t find the partners for them because the market is tough… I definitely feel the appetite is there. It’s just that the quality has to be there too.”
Fraser says Fifth Season is prioritising quality over volume: “If you’re talking to a buyer about one amazing show, you’ll probably get a much higher fee than talking about 10 middle-of-the-road shows.”
Another major Mipcom talking point is likely to be the new set of rights for major streamers that are adapting their platforms to include advertising. Both Netflix and Disney+ are gearing up to launch ad-supported tiers in the coming months. Ad-funded platforms such as Amazon Freevee are also buying. “It just creates more opportunity,” says Fraser. The thinking is that content aimed at broad audiences — which might not have sold so easily to upscale subscription services — is more likely to find a home on ad-funded platforms.
Currency fluctuations will be another issue at Mipcom. The dollar has been on an upward tick for much of the year, while the pound has tumbled in recent weeks following the new UK government’s mini-budget. This means acquisitions will become more expensive for UK buyers when they are licensing rights in US dollars, for example.
Territory focus
Spotlights will also inevitably fall on certain territories. UK content continues to sell well, particularly in Europe where, despite Brexit, it still qualifies as European so can meet EU audiovisual quotas. Spanish-language content is desirable for its ability to travel throughout the Hispanic world. Australia is cited by many distributors as a hot territory (“The bar has gone up,” says one). Scandinavian noir remains popular, while Germany is cited as a territory to watch. Studiocanal has a focus on Benelux drama in its catalogue for Mipcom, where it is launching Dutch drama The Crash and Belgian series 1985. Studiocanal also has a number of African series in production, which it will soon be presenting to international buyers.
All will be vying to stand out at a market that is set to be the biggest gathering of international TV executives for many years. “The majority of scripted players — from buyers to producers and distributors — will be present,” says Dundon. “They are seeing it as the return of Mipcom.”
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