Has The Golden Age Of Film & Television Changed That Much? (Part 1)

This entry is part 1 of 2 in the series Streaming:


 - There are places we go to let out our emotions, to tell our stories, to stretch the limits of our imaginations, to question what matters, what we stand for, what is real, what we wish was real. What it will take to bring the world together, even just for a moment. Sitting silently, restlessly, breathing in everything on the screen, embracing the theatrical weight of its emotional impact – BANFF Connect LA 

The past few years have witnessed a striking uptick in cable and streaming options, each offering a stunning array of film and television shows made with eye-popping budgets. Has the boiling point been slowed to a simmer to prevent overflow or simply to create a more sustainable business model? As some major streaming networks navigate huge losses, the industry is once again reconsolidating and recalibrating  itself.

Miura Kite, Executive Vice President, Global Television at Participant Media doesn’t see it all as doom and gloom. “We believe a great story well told can change the world. We’re sort of bespoke. We’re not about creating a huge quantity, but about quality,” she states. Participant Media is partnering up more with international players and looking for ways to get great content out there in less expensive ways.

Netflix has seen an explosion of content coupled with rationalization and some unexpected cancellations. Jinny Howe, Vice President, Original Series at Netflix is still enthusiastic despite the market turbulence. TV shows like Wednesday and Dahmer have got viewers excited. “I think the business is thriving and there is an re-acceleration and enthusiasm toward more great content.”

Scott Nemes, President, Television at AGBO (the company behind MCU) is less inclined to draw a simple binary conclusion. “I don’t think that things are better or worse… maybe darker. I think it’s a really healthy time to be an ecosystem,” he states. Although some of the additional eyeballs on screen hours have tapered off from the height of the COVD lockdowns, the key platforms “are still planning on spending on growth over the next several years, even though they’re rationalized,” he continues. The show will go on.

“We have a real need for platforms. The aim of entertainment is to deploy original, new, splashy, original content in the form of TV series and movies. So maybe the last thing I’d say is, maybe peak TV is slowing, but it’s still held a lot better than it was ten or fifteen years ago,” Nemes claims.

 - We’re entering a world where consumers are driving the content through word of mouth both online and offline.

“It behooves us to set the bar high for what we’re making. The stories we’re telling, how fresh and original they are, the people who populate them, and how representative they are to keep the stories super-interesting and shows that we just haven’t seen before,” says Kathryn Tyus-Adair, Senior Vice President, Original Programming at Starz. “We’re looking at grabbing people’s attention early on.” Attention can be either be a slow-burn, building and unfolding, or a spectacular promotional campaign.

Although the content makers are modest in their assessment of the industry, they are cognizant of the choppy market conditions when consumers may suddenly cut back their spending. In response, apart from the mega-streamers attached to larger parent businesses, they are scaling back their budgets to fit the current business realities. “If the viewership isn’t helping the business, the business can’t help the content creators,” rationalises Tyus-Adair.

Film & TV Show Evangelists

The types of shows that are being made hasn’t changed recently. “We’re still looking for people who have bold visions and really understand their audience. It’s not just who do we think it’s going to like the show, but who’s going to love the show and tell everyone about it?” notes Howe. Networks are looking for engagement – ambassadors who will watch a show from start to finish and tell everyone in their circle about it either in-person or online. “I think more than ever, we’re looking for a passion and a real clarity of vision in our films and television shows.”

Some networks are based on a subscriber model while others generate revenue from advertising. Most operate via a hybrid. So engagement matters. Are audiences going crazy about last night’s episode of a certain show on social media? This is especially relevant for shows with smaller niche audiences so you might look at potential audience growth.

Netflix is different than Starz in terms of its total subscriber numbers. “We talk about ‘right-sized budgets’ for shows,” says Howe. “For example, the Bridgeton universe is a very specific experience and has a central appeal to a very large audience.” It has done well for Netflix and can command a higher budget period dramas require.

“Mo, is very different, so special, so voice-driven and so beloved by the audience,” exclaims Howe.  It was made for a fraction of the cost. The more important concern for Netflix is whether they are capturing the right audience to watch every episode. Howe believes this a more helpful metric for success than total audience numbers for one episode.

Participant Media is an industry generalist, so their films and television shows aren’t tailored to a specific audience. They’ve worked with budgets from under $1 million to over $200 million. “We don’t have a deal with the studio or network, so we can go anywhere, but we also have partnerships with a lot of places,” says Kite.

What’s Connecting With Viewers Now?

“I think people are definitely finding a desire for lighter shows, comedy, even shorter length. I find that in my viewing habits too, there are nights where I really want to dig into Chernobyl, and then there are nights where I want to watch Flea Bag or something like that,” confides Tyus-Adair.

“When we do things that can help promote positive social change, it doesn’t mean that it needs to be dark. You need to be entertaining first. Also, there definitely needs to be levity. We’re finding that most of the shows that resonate with people, have some social impact at their core, especially with younger viewers.”

It also comes down to building unique worlds, places and situations you’ve never seen before. Howe also believes in the power of escapism. “That can be so many different genres and tones. People have really sought escape and refuge in television, so it’s more than entertainment.”

 - Audience is looking for escape, satisfaction and fun

“People are looking for a smart approach to telling a story, and who it is that you’re tuning in for and coming back for,” states Tyus-Adair. “Our shows are also different from each other – anything from BMF to the Serpent Queen and lots of things in between. But the common point for them is that they’re all character-driven. Each show is about every character and people in the story, not just the main ones. I come back for that.”

“Sometimes it’s the humor that people tune into. Sometimes it’s the satisfaction of characters who get the win. We’ve been living in times where we felt like things are out of our control. And I think people are really going to be connecting with solving the mystery, even if the character is an anti-hero, or if they’re really brilliant at how they go about their bad deeds. I think people are willing to engage and come back with less desirable characters.”