International Dealmaking in the TV Industry: Navigating the Global Entertainment Landscape

The TV industry has undergone a dramatic transformation in recent years, driven in large part by globalization and the digital revolution.  As a result of global streaming platforms and smaller domestic programme budgets, international dealmaking in the TV industry has become even more commonplace and vital to the success of content creators, distributors, and broadcasters.  In this ever-evolving landscape, understanding the dynamics of international dealmaking is crucial.  So, ahead of this year’s MIPCOM, it’s useful to reflect on the key factors and challenges involved in international dealmaking within the TV industry.

Globalisation

The TV industry has truly become a global enterprise. Gone are the days when television was limited to a handful of domestic channels. Today, content can be produced anywhere in the world and distributed to a global audience thanks to the proliferation of streaming platforms and digital technology. This globalization has created a vast and diverse marketplace for TV content.

One of the primary drivers of international dealmaking in the TV industry is the demand for fresh and unique content. In a crowded marketplace, networks and streaming services are constantly seeking content that can capture the attention of viewers. This has led to a surge in co-productions and partnerships between companies from different countries. For example, shows like “His Dark Materials” (a BBC-HBO co-production) and “Gangs of London” (a Sky Atlantic-AMC co-production) have demonstrated the power of international collaboration in creating successful TV content.

Navigating the Complex Landscape

International dealmaking in the TV industry involves a myriad of factors and challenges.  Here are some key considerations:

Financing and Funding Models: Co-productions are a common strategy in international TV dealmaking.  These collaborations involve multiple parties contributing to the financing of a project.  This can lead to complex negotiations, not helped by the parties each using their own ‘standard terms’ and following their own (sometimes rigid) company working practices.  Negotiations take place around regarding financial contributions, credits, rights, profit-sharing, and creative control.  It’s easy to get lost in the detail of these deals and a good idea to have the fundamental principles agreed by all and cemented in everyone’s minds before proceeding to longform.  Sometimes financiers need a gentle reminder that their deal needs to match their contribution.  Of course, additional considerations come into play when the co-production arrangement is in place to unlock tax credit or other subsidy funding in different territories.   

Rights: Determining who gets what rights for a TV show or series can be a contentious issue. Who gets world premiere?  Ought there to be a longstop date for first transmission?  When does exclusivity expire?  What holdbacks apply?  Rights considerations apply to linear TV broadcasting (primary and secondary channels), streaming platforms and international sales.  Negotiating these rights can be a complex process and needs careful management when there are lots of different parties involved.

Regulatory Hurdles: Different countries have varying regulations governing television content, advertising, and distribution. These regulations can affect everything from content censorship to product placement.  International dealmakers must be conscious of regulatory differences and seek advice from commissioners and/or request or refer to commissioner guidance to avoid potential problems. 

Talent and Crew: International productions often involve talent and crew members from different countries.  Dealmakers must consider issues related to different union agreements, local industry custom and practices, and of course in the current climate – industrial action, to ensure a smooth development and production process.

Cultural Sensitivity: TV content often needs to resonate with diverse global audiences. For a TV producer, this requires an understanding of cultural nuances and sensitivities.  What might be acceptable in one country could be offensive in another.  Successful producer dealmakers will liaise with their distributor (who are always well versed in these matters) to navigate these differences to ensure content is well-received worldwide.

Intellectual Property: Protecting intellectual property rights is paramount in international dealmaking.  Negotiating different applicable laws and ensuring your agreements properly address copyright ownership and licensing is crucial to prevent disputes down the road.

There’s no doubt that international dealmaking in the TV industry has become an increasingly complex, dynamic and multifaceted process.   Globalization has created a rich tapestry of opportunities and challenges for TV producers.  Successful dealmakers in the TV industry need to be culturally aware, legally astute, atuned to the different needs and working practices of each financier/licensee and excellent at managing several relationships at the same time.  The rewards however are obvious and obstacles can easily be overcome when the right projects find the right international partners.