, the world’s leading television market, which wrapped in Cannes this week, with buyers and sellers alike, still reeling fromand a sluggish advertising market, embracing a more conservative approach. The message was clear: the era of high-risk, big-budget productions is giving way to more practical, proven formats, both in scripted and non-scripted programming.
Basic economics also explains the shift. With U.S. outlets cutting their budgets, producers have to look abroad for financing. 75 to 80 percent of the budget of a major series now typically comes out of Europe, one veteran U.S. producer noted. And European buyers love proceedurals.With most buyers in super-saver mode, lower-cost reality and entertainment shows are in high demand, both from traditional broadcasters and, increasingly, from global streamers.
“Linear consumption is going down regularly, full stop, while VOD consumption is going up,” says Pabst. “It’s just a question of time before these two lines cross in terms of consumption, and when these two lines cross, you should have your right content strategy in place.”