August Film+TV Dynamics: Impact of Major Strategic Shifts as Productions Reach Critical Stages!
August 2024 marks a shift in the global Film and TV industry, as production volumes declined by approximately 30% compared to July 2024. This decline is evident across regions, with the Americas experiencing a decrease of around 21%, EMEA about 31%, and APAC roughly 45%. These trends are a mix of seasonality and undoubtable pressures of production financing but they also indicate a strategic pivot towards completing existing production projects rather than initiating new ones.
Welcome to a brand-new edition of Vitrina’s global monitor of Film and TV productions covering everything from Movies and Feature Films to TV series, Animations, Documentaries, Scripted and Unscripted projects.
In August 2024, the industry faced a 30% drop in production volumes, and the focus now shifts to how major players are navigating these changes and the impact of regional trends. Before diving into the August metrics, let’s review the key Film and TV production trends shaping the industry in 2023 and 2024.
Global Film & TV Production Snapshot: Last 32 Months
![Vitrina Film/TV Production Insider [August, 2024] 2 film tv](https://vitrina.ai/wp-content/uploads/2024/09/unnamed.png)
Source: Vitrina Daily Production Tracker
Insights on Production Transactions – August’24 v/s July’24
Vitrina monitors projects globally through various stages of content life-cycle (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, green-lighting, etc. between production houses, distributors, streamers, and broadcasters. This provides us with valuable insights into trends, key players, buyer behavior, and production company specializations.
Below are the key highlights for August specifically for Production Volumes:
- Global Production Trends: Production volumes saw a decline in August 2024, dropping by 30% from July, with decreases across the Americas, EMEA, and APAC regions at 21%, 31%, and 45%, respectively. Despite the overall downturn, major platforms such as Netflix, Apple TV, and Hulu maintained their volumes, while Prime Video & MGM Studios experienced a significant reduction. However, Amazon’s drop is on expected lines with the bulk of their productions always front-loaded in the first half of the year.
- Genre and Language Trends: Drama remained the top genre, followed by Documentary and Comedy. Scripted content made up 72% of global August productions. From a language perspective, English productions represented 42% of the August projects.
- Top Players and Trends: Netflix and Prime Video were the Top Commissioners in August followed by ITV and Channel 5
- Streaming Trends: OTT providers accounted for 20% of the total production transactions, consistent with July’s production volumes, with Netflix and Prime Video leading the commissioning efforts.
Vitrina’s Outlook of Production Financing & Impact on Supply-Chain in the Short-Term:
In August 2024, the entertainment industry continued its shift from traditional box office and cable dominance to a focus on streaming platforms. This transition has prompted a mid-term adjustment, characterized by a reduction in high-budget projects and a shift toward mid- and smaller-budget productions. Industry players are increasingly adopting lower-risk strategies, including leveraging established IPs, adapting stories from other media, and forming strategic partnerships. Cross-border co-productions are gaining importance, reflecting a move toward more collaborative and cost-effective production methods.
A notable trend is the decline in new development projects, as the industry prioritizes completing existing pipelines that were stalled due to last year’s strike-related disruptions. This shift is driven by heightened caution among financiers, who now demand stronger justifications for new IP and pilot projects, leading to longer decision-making processes and potential delays in project timelines. Additionally, competition among governments and film commissions for production opportunities has intensified, creating pressure to secure favorable terms. The supply chain is also evolving, with new technology players contributing to ongoing disruptions. The OTT market remains dynamic, with major platforms like Netflix, Disney+, and Amazon Prime Video investing in original content and exploring hybrid monetization models to diversify revenue streams.
Highlights: Global Transaction Volume of Film/TV Productions
August is usually not a big month for new productions and this year is consistent with that pattern. When we compare August to July, each region has experienced varied trends, reflecting different market dynamics and strategic adjustments.
APAC had the sharpest pause, with a reduction of roughly 45%, vis-a-vis 21% in the Americas and 31% in EMEA. Within the projects that did successfully get financed, commissioned or greenlit, the focus in APAC and EMEA remained on localized content and strategic partnerships.
![Vitrina Film/TV Production Insider [August, 2024] 3 Frame 1000005416](https://vitrina.ai/wp-content/uploads/2024/09/Frame-1000005416.png)
Season Renewals:
Introduction: Season renewals have become a crucial lifeline for companies across the entertainment supply chain. As new productions face delays due to market conditions, the renewal of established shows offers a reliable path to success for streamers and broadcasters. These renewals not only ensure continued viewer engagement but also sustain the flow of work for production and post-production service providers.
The accompanying graph offers a detailed view of recent trends in season renewals, uncovering significant shifts in industry strategies aimed at maintaining and expanding series lineups. It highlights the impact of different languages, regions, and genres on these trends. For instance, January saw a notable rise in Dutch language renewals, second only to English. By March, renewal activities surged, led by major players like Netflix, Paramount, Warner Bros., and ITV. The trend reached its peak in May, signaling a strong industry commitment to existing series.
![Vitrina Film/TV Production Insider [August, 2024] 4 aug 3](https://vitrina.ai/wp-content/uploads/2024/09/aug-3.png)
Source: Vitrina Daily Production Tracker
In June, Japanese language renewals experienced a notable increase, again following English. Renewals remained relatively stable in June and July. However, this trend reversed in August, with a 37% drop in season renewals compared to July, indicating a significant shift towards new, original content.
Geographically, season renewals also varied. The APAC region saw an uptick in renewals from Prime Video, Nine Network, and Network 10. The Americas led in renewals, driven by Netflix, CBC, ABC, Prime Video, and Bravo. EMEA followed with significant renewals from Prime Video, Netflix, CBC, BBC One, and Fox.
Throughout this period, the drama genre consistently remained the top choice.
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July 2024 Film+TV Productions in Summary
- Netflix Sets U.K. Undercover Drug Gang Drama ‘Legends’ From ‘The Gold’ Writer Neil Forsyth Introduction:
Netflix has greenlit a gripping new British drama titled “Legends,” created by BAFTA-winning writer Neil Forsyth, known for his acclaimed work on “The Gold.” The six-part series delves into the extraordinary true story of British customs officers who, in the 1990s, were sent undercover to infiltrate some of the most dangerous drug gangs in the UK.
![Vitrina Film/TV Production Insider [August, 2024] 5 aug 4](https://vitrina.ai/wp-content/uploads/2024/09/aug-4.png)
Strategic Partnership:
“Legends” is produced by Tannadice Pictures in association with Lion Television, highlighting Netflix’s ongoing strategy to collaborate with premier production houses and seasoned creators. This partnership further solidifies Netflix’s commitment to delivering high-quality, compelling content to its global audience.
Impactful Narrative and Cultural Relevance:
The series captures a pivotal moment in the UK’s battle against drug smuggling, offering an intense narrative that merges true crime with social commentary. By focusing on ordinary individuals thrust into extraordinary circumstances, “Legends” resonates with viewers by exploring themes of identity, courage, and survival in the face of immense danger.
Collaborative Expertise:
“Legends” benefits from the combined expertise of its production team, including Neil Forsyth, Ben Farrell, and Richard Bradley. Their collective experience in crafting successful crime dramas ensures that “Legends” will be a thrilling and authentic portrayal of one of Britain’s most remarkable undercover operations.
In Conclusion:
With its compelling storyline and strong production credentials, “Legends” is set to be a standout addition to Netflix’s lineup, promising to captivate audiences with its blend of suspense, drama, and historical significance.
Interesting Snapshots from the Vitrina Business Network: Monitoring Global Pre-Production and Development Transactions
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 our members 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 and collaboration conversations, ultimately contributing to more efficient and successful production outcomes.
In August alone, we tracked over 200 projects in early stages of development, spanning books, formats, novels, and other intellectual properties being evaluated for adaptation into films or television content. The Americas led this effort, contributing 60% of the total projects, while EMEA followed with 30%, and APAC accounted for the remaining 10%.
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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.
What content and services are business leaders in the Entertainment Industry searching for?
What content and services are business leaders in the Entertainment Industry searching for?
In this section, we spotlight the dynamic demands and requirements identified on Vitrina among entertainment industry leaders. Our community, now comprising over 72,000 verified professionals from more than 100 countries, spans pre-production to post-services, distribution, and streaming. By analyzing the content, solutions, and vendors currently being searched by the Vitrina community, we gain invaluable insights into industry trends and the evolving landscape of demand and supply.
Localization, post-production, 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.
As a sneak peek, here are some of the most searched items for August, providing a glimpse into current industry trends and interests:
Here are the most Searched Supply-Chain Terms on Vitrina
Most searched keywords for Content: “Documentary”, “Drama”, “Anime”, “Food-related shows” “Reality”, “Cooking”, “Mystery”, “Fantasy”, “Supernatural”, “Animation”, “Reality shows”, “Anime”, “Turkish drama”, “TV formats”
Most searched in Content Services: “Film Funding”, “Localization”, “VFX” “AI-enabled VFX”, “CGI”, “2D and 3D Animation”, “Production service”, “Translation”, “Localisation”, “Animation”, “Film finance”, “Film production”, “Subtitling”, “VFX post-production”,“VFX post production companies”, “Avid rental”, “Offline rental”, “ Immersive post-production”, “AI dubbing and lip sync”, “Production services”
Vitrina Tracks Companies in the Global Video Entertainment Supply-Chain in Real-Time
Vitrina tracks all Film+TV projects globally along with the associated companies in real-time. Our monitoring of content projects begins with pre-production and development and then tracks the projects that are financed, commissioned, 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 131,000+ companies monitored by Vitrina:
Entertainment Companies Tracked by Vitrina Worldwide in July: 131,000+
- Streamers+Broadcasters : 8,015
Vitrina offers broadcasters and streamers unparalleled access to a global marketplace of premium content and essential services. Discover a vast array of high-quality content, innovative services, and industry-leading solutions from across the globe—all within a single platform. Streamline your content acquisition, enhance your offerings, and stay ahead of market trends with Vitrinas comprehensive and efficient marketplace.
- Production Houses : 86,486
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- Most Popular on Vitrina: Paramount Pictures
- Highest Reputation Scores : The Walt Disney Company, WildBrain
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- Post Houses : 7,109
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- Most Popular on Vitrina: Industrial Light & Magic (ILM)
- Highest Reputation Scores : Prime Focus Technologies, Company 3
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- Distributors : 10,598
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- Most Popular/ Reputed on Vitrina: All3Media International, Nordisk Film, Blue Ant Media
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- Localization : 879
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- Most Popular/ Reputed on Vitrina: Iyuno, Zoo Digital, Visual Data Media Services
Our Value Proposition:
By integrating these company searches into a single platform, Vitrina provides a centralized hub for navigating the entertainment supply chain.
Discover More:
Explore how Vitrina’s platform can transform your operations and connect you with key industry players. Stay tuned for more updates and insights into the evolving entertainment supply chain.
Get Started Today:
Ready to unlock the full potential of your brand on marketplaces? Contact us to discover how our data-driven strategies can elevate your brand visibility and drive meaningful results.
To feature your company, content and product announcements on Vitrina, email us at updates@vitrina.ai
If you need reports on Production trends, company intel, email us at sales@vitrina.ai
Frequently Ask Questions
Vitrina follows a double opt-in protocol for buyers and sellers to connect on our platform. We do not provide buyers with direct contact information for vendors. Instead, buyers create a Request-For-Information (RFI) document outlining their requirements and reason for contact. Anonymized RFI is then shared with qualifying sellers in the Vitrina network who meet the criteria. Interested sellers can apply for the opportunity, and both parties are introduced to each other with mutual consent. This process ensures a secure and transparent connection between buyers and sellers on Vitrina.
The Vendor Reputation Rating on Vitrina is a comprehensive metric that incorporates various factors critical to buyers’ assessments of vendors, service providers, and suppliers. This rating is used by buyers to evaluate vendors’ qualifications and capabilities in the M&E supply chain. Vitrina’s Reputation Rating system provides buyers with valuable insights into vendors’ size, parentage, past work, quality of projects/clients, recency, specializations, strengths, and other factors that may affect the vendor’s suitability for the buyer’s project.
Yes, Vitrina can assist you in finding and shortlisting the ideal partners for your project. Our Partner-Finder team is experienced in running vendor recruitment and screening mandates that are specific to your needs. We can help you find the best vendors for your business by identifying niche and specialist companies in new markets. We stay up-to-date with the latest developments in the M&E supply chain, allowing us to continually identify and qualify the most innovative vendors. Additionally, our extensive network of storefront owners updates their latest projects, capabilities, and certifications on our platform. These sellers are highly engaged and active on our platform, allowing us to connect buyers with vendors who are best suited to meet their requirements. By working with Vitrina, you can access the latest solutions and expertise in Animation, Localization, VFX, Stages, Virtual Production, and gaming engines. Contact us today to learn more about how Vitrina can help you find the right vendors and partners for your business.
Vitrina is a private and exclusive business network designed for dealmakers in the Media and Entertainment (M&E) industry. Members are carefully screened to ensure they meet the network’s high standards for professionalism and integrity, and the platform is not open to the public or to search engines. This ensures that all information shared is kept confidential and private. Vitrina takes the privacy and confidentiality of its members very seriously and provides a secure platform for members to share valuable information and insights with a select group of vetted and verified buyers and sellers.