Vitrina Film/TV Production Insider [July, 2024]

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Vitrina Film/TV Production Insider [July, 2024]

July Industry Dynamics: A Rebound in Production

July 2024 sees a turnaround: Production transactions increase by 9%, continuing the slow and steady recovery from the rock-bottom levels of second-half 2023. This recovery is on the back of a resurgent APAC and EMEA regions; continuing productions from Netflix and Amazon Prime; as well as a host of government supported sops and incentives. Read on to catch an exciting July update…

Welcome to a brand-new edition of Vitrina’s global monitor of Film and TV productions.

July 2024 witnessed a remarkable 9% increase in global Film and TV production volumes, indicating a resurgence in the industry. However, during this same month, IP and Development activityΒ  experienced a 16% decline compared to June. This dramatic turnaround highlights a renewed focus on bringing new projects to life even as volumes of intellectual property and development cools. Vitrina continues to monitor Film and TV projects across all stagesβ€”Development, Production, Post-Production, and Releaseβ€”providing real-time insights. Our analysis covers the companies, studios, and streamers shaping these projects through IP-optioning, production commissioning,Β  financing, production services, facilities , and tech solutions.

Before delving into the metrics for July, let’s review the Global Film and TV Production Trends for 2023 and 2024.

Global Film & TV Production Snapshot: Last 31Β  Months

Film & TV Production Financing Stabilizes After Declines in β€˜22-’23

Modest global recovery sees EMEA gaining ground as Americas face setbacks

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Source: Vitrina Daily Production Tracker

Insights on Production Transactions – July’24 v/s June’24

Vitrina monitors projects globally through various stages of content development (development, production, post-production, release) in real-time, on a daily basis. We track different types of transactions and deal activities involving content financing, commissioning, CoPros, etc. between production houses, distributors, streamers, and broadcasters. This provides us with valuable insights into trends, key players, buyer behavior, and production company specializations.Β 

 

Below are the key highlights for July specifically for Production Volumes:

  1. Global Production Trends: Production volumes rose by 9% in July compared to June 2024. The APAC and EMEA regions saw significant growth, with increases of 48% and 19%, respectively. In contrast, the Americas experienced a 31% decline in production volumes.
  2. Genre and Language Trends: Drama remained the top genre, experiencing a 33% increase compared to June, with Comedy trailing closely behind. Scripted content made up 77% of June productions. English productions represented 38% of the June projects , marking a 12% decrease from June..Β 
  3. Top Players and Trends: Prime Video & Netflix maintained their stronghold in commissioning, with The German Federal Film Board, Disney+ (incl. Star+)Β  following closely behind.
  4. Streaming Trends: Production transactions from OTT providers contributed to 21% of the total deals (4% increase over June), with Netflix and Prime Video leading the commissioning.
  5. Future Outlook of Production Financing: The shift in power from box office and cable/broadcast to streaming continues to reshape the landscape, prompting a mid-term correction with less appetite for high-budget projects and a stronger focus on mid and smaller-budget productions. Players are gravitating towards lower-risk strategies, favoring smaller budgets, time-tested stories, IP adaptations from other media/markets, and strategic partnerships. Cross-border collaborations in co-productions are becoming essential. Production financing decision-makers need convincing on the strength of IP, development, and pilot projects, as skepticism and longer decision cycles risk delaying projects. Additionally, renewed and fierce competition between rival governments and film commissions is intensifying. Amidst these challenges, the industry must navigate a rapidly changing supply chain influenced by new tech players across every dimension of the value chain.

Highlights: Global Transaction Volume of Film/TV Productions

Trends January 2024 – July 2024

This graph highlights the shifts in production volumes within the entertainment industry across different regions for July 2024. Overall, there was a 9% increase in production volumes compared to June. The APAC region led the surge with a substantial 48% growth, followed by EMEA, which saw a 19% rise. On the other hand, the Americas faced a downturn, experiencing a 31% decline in production volumes.

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Regional Share of Global Film+TV Production Volumes July:

If we look at the July numbers in terms of proportional shares of different regions, we see that EMEA tops the chart with 46% of production volumes.

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July 2024 Film+TV Productions in Summary

  • Global Film+TV Production Volumes, 9% increase compared to June
  • EMEA emerged as the leading market bloc for July, with the United Kingdom securing the highest volume of production transactions.
  • The Top Buyers/ Commissioners/ Financiers comprised a diverse mix of broadcasters, OTT Providers and production houses, led by Prime Video, Mediaset, Netflix, and Rok Studios (part of Vivendi and Canal Group)
  • We have detected a massive intervention by various governments and film commissions – from Australia to Malta to Quebec to Germany and many others – to incentivize, promote, support and finance new productions. The most active in July was The German Federal Film Board.
  • The share of APAC increased from 17% in June to 27% in July, with production volumes from India rising by 77%, driven by companies such as Sony Yay!, Zee5 & Jio Studios

Season Renewals:

This graph depicts the trends in season renewals over recent months, revealing significant changes in the industry’s approach to continuing series. In May, season renewals were at a high, reflecting a strong commitment to existing shows. However, this trend reversed in June, with a noticeable decline in the number of series renewals, and continued to decrease further in July. The decline in renewals may reflect an industry response to market dynamics, where there is a greater emphasis on launching new, original content to attract and retain viewers. In summary, the graph not only shows a declining trend in season renewals but also points to a broader industry trend towards innovation and new content creation.

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  • The prominent companies pushing season renewals include a mix of broadcasters, and streamers such as Prime Video, Mediaset & Netflix
  • For global season renewals, English continued to be the dominant language, with Spanish & Japanese following. Drama and Reality genres were the most popular, with scripted content making up 64% as compared to 79% in June.

Vitrina Spotlight: Production Deal of the Month!

Jackpot! – An Exciting Action-Comedy from Amazon MGM Studios

Overview: Amazon MGM Studios has released the trailer for Jackpot!, an eagerly awaited action-comedy premiering on Prime Video on August 15. Directed by Paul Feig, the film stars Awkwafina, John Cena, and Simu Liu, promising a mix of humor and thrilling action.

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Importance of the Project:

  • Global Streaming Platform: Jackpot! will be available exclusively on Prime Video. For Amazon MGM Studios, Jackpot! enhances their content portfolio, especially in the action-comedy genre, appealing to a broad demographic and reinforcing their competitive edge.
  • Star-Studded Cast and Creative Team: Featuring Awkwafina as Katie, John Cena as Noel Cassidy, and Simu Liu as Louis Lewis, the film presents a unique storyline where a lottery winner must survive a dangerous challenge. With Paul Feig’s direction, Jackpot! offers a fresh blend of action and comedy.
  • Unique Narrative and Genre Appeal: Set in a future where lottery winners face deadly risks, Jackpot! stands out with its engaging narrative. The combination of high production values and genre appeal is expected to attract a wide audience.
  • Diverse Creative Collaboration: Produced by Joe Roth, Jeff Kirschenbaum, Paul Feig, and Laura Fischer, with executive producers including John Cena and Michelle Morrissey, the film benefits from a skilled team, ensuring a high-quality production.
  • In Conclusion: The launch of Jackpot! highlights a significant development in the industry, merging global reach, star talent, and innovative storytelling, expected to attract a large viewership.

Interesting Snapshots from the Vitrina Business Network:

Did you know that Vitrina monitors pre-production transactions worldwide?

Besides tracking global productions, Vitrina also meticulously monitors pre-production and development transactions on a global scale. Through comprehensive tracking and analysis, Vitrina offers invaluable early signals to the entertainment industry on what could be headed to the production floor. By keeping a keen eye on pre-production activity spanning across the globe, Vitrina provides insights into the initial genre and theme selections for content development. This proactive approach not only enables industry professionals to stay ahead of emerging trends but also facilitates informed decision-making processes as well as collaboration conversations, ultimately contributing to more efficient and successful production outcomes.

In just 31 days of July, we’ve tracked more than 450 projects that are in early stages of concept development including Books, Formats, Novels and a host of other IPs that are being considered to be turned into films or television content.

Login to the Vitrina App now to check these out!

What content and services are business leaders in the Entertainment Industry searching for?Β 

Here are the most Searched Supply-Chain Terms on Vitrina

In this section, we spotlight the dynamic demands and requirements identified on Vitrina among entertainment industry leaders. Our community now boasts over 72,000 verified professionals from more than 100 countries, spanning pre-production to post services, distribution, and streaming. By analyzing what content, solutions, and vendors are currently being searched by Vitrina members, we gain invaluable insights into industry trends and the evolving landscape of demand and supply.Β 

Localization, Post, and VFX companies recognize the value of Vitrina as a platform to showcase and promote their services; the more they enhance their profiles, the more their offerings surface in search results, boosting business opportunities and reach.Β 

These insights reveal powerful signals of buyer demand, highlighting emerging trends and opportunities across the entire video entertainment supply chain. Stay informed and ahead of the curve with the latest intel from Vitrina members driving the future of entertainment.

As a sneak peek, here are some of the most searched items for the month of JULY, providing a glimpse into the current trends and interests within the industry.

  • Most searched keywords for Content: β€œReality”, β€œCooking”, β€œFood”, β€œMystery”, β€œFantasy”, β€œSupernatural”, β€œAnimation”,Β  β€œReality shows”, β€œAnime”, β€œdramas”, β€œdocumentaries”, β€œTurkish drama”, β€œTv formats”
  • Most searched in Content Services:Β  Β β€œAI-enabled VFX”, β€œCGI”, β€œ2D and 3D Animation”, β€œProduction service”, β€œTranslation”, β€œLocalisation”, β€œAnimation”, β€œFilm finance”, β€œFilm production”, β€œSubtitling”, β€œVFX post-production”,β€œVFX post production companies”, β€œAvid rental”, β€œOffline rental”, β€œ Immersive post-production”, β€œAI dubbing and lip sync”, β€œProduction services”

Vitrina Tracks Companies in the Global Video Entertainment Supply-Chain in Real-Time

Vitrina tracks all Film+TV projects globally along with the associatedΒ  companies in real-time. Our monitoring of content projects begins with pre-production and development and then tracks the projects that are financed/ greenlit enabling its production, post, localization, culminating finally in its distribution/ windowing including streaming and broadcast.

With this intel, Vitrina assists its members in identifying the right projects, partners, distributors, customers and suppliers. Additionally, Vitrina provides market intelligence to help companies expand into new markets or segments or partnerships, assisting them with trends, leaderboards and specialist vendor/ partner recommendations. Given below are glimpses of the 130,000 companies monitored by Vitrina:

Entertainment Companies Tracked by Vitrina Worldwide in July: 130,000

 

 

 

 

 

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To feature your company, content and product announcements on Vitrina, email us atΒ updates@vitrina.ai

If you need reports on Production trends, company intel, email us atΒ sales@vitrina.ai

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Vitrina Film/TV Production Insider [July, 2024]

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