Steven Hindes’ Post

In today's TV, Film, & Media Industry News Roundup for Thursday, 7 March 2024, the UK Government introduced a 40% indie movie tax relief to bolster local production. BBC Studios secured a substantial debt facility to amplify its investment in programming. Executive movements, including Imagine Entertainment's appointment of Jeb Brody and Ravi Ahuja's role at Sony Pictures, signal a reshuffling of creative leadership. Initiatives like Foxtel's Video Futures Collective and IAG's partnership with Covenant House emphasise collaboration and philanthropy. The closure of Rooster Teeth underlines the dynamic interplay between innovation and tradition. Amidst these changes, new projects, adaptations, and the ever-evolving strategies of streaming giants like Apple and Netflix offer a glimpse into the future of storytelling and distribution.

Austria's new location incentives for streaming, television, and film productions generate contracts worth 73 million euros! "I would be delighted to see even more productions coming to Austria in the coming years", stated Martin Kocher, the Austrian Minister of Economics, about the successful first half-year of the new support models, Fisa+ and Öfi+. An invested euro translates to three euros of value added in Austria. Sylvia Vana, the responsible department head at the Ministry of Economics, provided the initial data of the Fisa+ program, as of mid-July 2023: Support has been approved for 28 projects, with subsidies amounting to approximately 25 million euros. These projects collectively hold a production volume of around 252 million euros, with approximately 73 million euros being spent in Austria. "The success has taken us completely by surprise and overwhelmed us", Vana describes the first half-year of the new incentives. "The number of applications has skyrocketed." Among the initial projects supported by Fisa+ was HBO's "The Palace" starring Kate Winslet. Additionally, the first Austrian horror series "The Followers", a domestically developed production by producer Constanze Schumann and Rund Film for Amazon Prime, received support. Furthermore, the Kafka series by David Schalko and Superfilm, an Austrian series that can now be shot in Austria thanks to Fisa+, is set to air on ORF and ARD in 2024. Find out more about Austria's prosperous film and entertainment sector at https://bit.ly/3Cg408H #filmproduction #filmindustry #advantageaustria Source: derStandard Photo Credits © HBO

COVID-19 has brought about significant changes in the film industry, some of which may be here to stay. According to Looper, the pandemic has accelerated the industry's shift towards streaming services, with studios releasing new films online and bypassing theaters altogether. This change has impacted how audiences consume content and how movies are monetized, affecting everything from box office receipts to actor salaries. To comply with health regulations, the industry has also seen innovations in production techniques, such as virtual production technologies, which have allowed for safer, more controlled environments. The financial strain has also led to a reevaluation of budgets, with a noticeable shift towards smaller, less risky projects. As the film world navigates these changes, the traditional cinema model is being reimagined, suggesting a future where flexibility and digital integration are key. The pandemic has heightened the call for greater flexibility in work arrangements, reshaping labor relations in the industry. What do you think about the future of cinema and the film industry? Please share your thoughts in the comments below. #FilmIndustry #CinemaEvolution #StreamingRevolution #PINCommunityAdvocate

Off you go « It was about accounting. Warner spent about $70 million making the film and might have gradually recouped that amount the usual way: by releasing the movie to paying audiences in theaters and on streaming platforms. But it might instead shelve the movie, interring it in a metaphorical graveyard and writing it off as a total, immediate loss, rather than absorbing that loss over quarters to come. One report estimated that this might net some $35 million to $40 million in tax savings, though a Warner spokesperson described that scenario as “inaccurate,” adding that no final decision has been made. Studios have been doing this sort of arithmetic a lot lately. Over the last few years, Warner — which also owns channels like TNT and TBS and streaming platforms like Max — has whittled down its content-and-development holdings in an effort to reduce costs and chip away at its $45 billion gross debt. Near-complete movies have been mothballed, underperforming shows pulled from streaming libraries. Disney+, Hulu and Paramount+ have made similar decisions, roiling an already-baffling patchwork of streaming options. You can now watch an HBO property like “Westworld” on Amazon Prime Video but not through the network that made it in the first place.

The Film Industry Isn’t Dying—We’re in a Renaissance Just like the French New Wave, which was born from rebel filmmakers who were shut out of studios operations, we are witnessing a similar shift in the industry today. Many claim the film industry is dying, pointing to the financial struggles of streaming platforms and the decline of traditional cinema revenue. However, many see it differently. This transformation is reminiscent of the Hollywood Renaissance, eras that redefined cinema by shifting power to independent filmmakers. A recent article on the economics of streaming highlights the challenges facing major studios and platforms (https://lnkd.in/gPQDk8aQ). But rather than signaling the industry's demise, these challenges are paving the way for a new era of innovation and creativity. Independent filmmakers, who create genuine stories instead of rinse-and-repeat formulas, are now more connected to their audiences than ever before. With unprecedented access to affordable technology and distribution channels, they can tell unique stories that resonate on a global scale. This democratization of film production is fostering a vibrant ecosystem where diverse voices and fresh perspectives can thrive. The industry isn't dying; it's evolving. We're witnessing a shift that empowers creatives outside the traditional studio system, echoing the revolutionary spirit of past cinematic movements. The future of film lies in the hands of the storytellers. #FilmIndustry #IndependentFilm #CinemaRevolution #StreamingEconomics #CreativeInnovation

The significance of a robust independent sector cannot be overstated. Without it, the avenues leading to major blockbusters diminish considerably. The absence of an independent sector means fewer new voices and perspectives in the industry, reducing the opportunities for risk-taking, innovation, and challenging the status quo. Furthermore, the development of the supply chain and the ecosystem at large is hindered, as these rely on a symphony of diverse elements working in harmony. The health of the independent sector is crucial for us all, impacting every facet of the industry. #creativeindustries

Co-productions and pre-buys are back in fashion ! Shouldn’t be anything new, at least not to European producers. We’re basically back to how many projects used to be engineered. At least it’s the way I’ve worked on most of -if not all of- the projects I’ve developed and set up, among which Midnight Sun/ Jour Polaire (SVT /CANAL+ Group /STUDIOCANAL), Agent Hamilton (TV4 /ZDF /Beta Film GmbH ), or Whiskey On the Rocks (SVT /Disney Streaming ). Now that most streamers have opened up for copros, pre-buys and territorial deals, producers have now more possibilities and there’s a larger amplitude of various partnerships available, depending on the specific IPs and projects. Broadcasters and streamers are learning to work together through windowing and other innovative approaches. And US studios are seeking collaboration with european producers. So it’s still a tough business, neither simpler or harder than it used to be, but it holds greater exploitation opportunities for IP and projects that cut through the noise! #coproduction #tvseries #scripted #svod #broadcaster #producer

What does KILLERS OF THE FLOWER MOON's theatrical play mean for Apple and other streamer studios going forward? It's a big topic with a lot of unknowns, but one certain trend: more and more companies like Apple and Amazon have abandoned their streaming exclusive plans with high profile films in favor of exclusive theatrical windows as the pandemic and its peak streaming era fall further behind in the rear view mirror. It's always an honor to collaborate with the great Alexandra Canal as she tackles the story in her latest for Yahoo Finance. "This certainly signals a transition period for [Apple] in terms of how they're going to approach content, especially with big prestigious productions and A-plus list talent like Leonardo DiCaprio and Marin Scorsese," Shawn Robbins, chief analyst at Box Office Pro, told Yahoo Finance. The film, which was distributed by Paramount (PARA), notched $44 million in its global debut this past weekend — a lukewarm opening considering its estimated $200 million-plus price tag but still a notable feat given its long run time, coupled with the ongoing actors' strike. The movie will eventually air on Apple TV+ once its theatrical run is complete, although the company has yet to reveal when that will be. "Studios have certainly remembered how valuable that theatrical window is — and that includes new players like Apple," Robbins said. The Boxoffice Company Boxoffice Pro Netflix Paramount Pictures Sony Pictures Entertainment Universal Pictures #killersoftheflowermoon #dicaprio #scorsese #apple #amazon #netflix #paramount #universal #sony #boxoffice #movies #cinema #theaters #film #entertainment #trendingonlinkedin

"I'll wait for streaming" is only part of the issue. While movie studios remain hoisted by their on-demand petard, they're also doing audiences no favours when it comes to trust. With The Fall Guy heading for a (very fast) home release, it's accompanied by 20 minutes of additional footage. An extended cut. It wasn't long ago that Zack Snyder released Rebel Moon for Netflix, before turning around and saying that a director's cut is coming - the implication, of course, to have audiences watch the movie again to see the new content. But will they? Why would audiences pay now when the "director's cut" or "extended edition" or "uncut version" is just around the corner? In wanting a comeback of those big pre-COVID bucks, this two-bites-of-the-cherry tactic is only going to train filmgoers not to return, but to restrain. Obviously, director's cuts are not new. What cinephile hasn't got 28 different versions of Blade Runner in their collection, or stand by the Assembly Cut of Alien 3? But to get that hype train rolling while the original release of the movie that you're asking people to pay to see is still screening? You're only telling on yourself. Movie studios: don't act surprised if "I'll wait for the extended cut" becomes the new "I'll wait for streaming". 

In a past paradigm shift I was Creative Director at the agency that pioneered DVD Production at scale for the film industry and brought in the first film studio to adopt the technology, Warner Bros. At the time we were combating DVD name calling as inferior tech by some big name filmmakers like Spielberg and Lucas, who swore they would never let their films be put on to DVDs. We approached the problem of overcoming that perception from a different angle and offered a way for the studio's to monetize their dormant film content, which was being stored and falling apart in the studio vaults, as a bright, shiny new product to put on the shelves. Seeing Netflix exit the DVD rental business is the end of an era. It could seem like the final stage for this medium. But perhaps it's really a new opportunity to deliver a high-end limited edition branded product experience. The novelty of owning an iconic piece of content to experience again and again is not going away any time soon. #designthinking #brand #innovation #monetization #businessstrategy