Another MIPCOM at Cannes is over, and now we’re at the “reflection” part. What stuck out:
- Emphasis on a hybrid model. One of the biggest advantages traditional networks have over digital is access to great content and the funding to push it places. Never mind the Hulus of the world; build an iPad app, a mobile app that interacts with your content, or provide Xbox content via subscription. The future of financing this industry isn’t ad support; it’s partnerships and diversification.
- Watch out for stream fraud. In his wrap-up presentation, president Gavin McGarry of Jumpwire reminded listeners that lack of standards in counting what constitutes a video view is one of the biggest problems in the online video industry. When working with a video hosting service, always ask these questions: how do you count a video view, and how do you know that the clicks aren’t fraudulent?
- More aggressive coproduction. The production team for “Pillars of the Earth” said you don’t have to fund a complete project yourself; when you profit from coproduction, you can get lots of stakeholders in the mix without compromising quality. This week, we saw the first-ever development of a coproduction deal between an Indian and a South African company. Attendees also emphasised there’s more coproduction business happening this year than in previous ones. So watch out for interesting global alliances.
- More Chinese culture in the media. Right now, China’s got most of the cash to spend in the entertainment industry – and it’s looking for partners that can spread Chinese culture in subtle ways: a mention of feng shui here, a Lao Tzu book there. Keep an eye out.
- Branded entertainment is a reality that’s here to stay. FremantleMedia’s acquisition of a 60% stake in branded content firm @radicalmedia at MIPCOM proved that. President Robert Friedman of @radicalmedia remarked that the two have been working together in distribution for four years, and at @radical’s “advantage is to achieve and take advantage to the global reach” of Fremantle, in particular its global licensing capabilities.
It’s arguably this last point which confirms today’s key trend: we are witnessing the erosion of silo’d media activity. The melding-together of FremantleMedia and @radicalmedia is only one example of two powerful forces that arguably threaten other arenas. But during MIPCOM’s Branded Entertainment Summit, media heads asserted it’s unhealthy to look at themselves as competitors vying for the same meat.
“We’re all in that same unhappy and uncomfortable place of being both competitors and allies and collaborators, depending on the situation,” observed GroupeM media and entertainment president Peter Tortorici, adding that you simply can’t assume that the position you played yesterday is the position you’ll play today.
CEO Dominique Delport of Havas Media France agreed. As media entities get more all-encompassing and service definitions less certain, respective giants will have to see themselves as collaborators, working toward the same goal – that of serving an audience with great storytelling, Tortorici believes – if they want to survive.
Anyhoo, here’s everything I covered this week (click through for video!):
For the last, you can also check out Gavin McGarry’s wrap-up presentation on Slideshare.
That’s all, folks! See you next year.