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Shifting June Trends: Current Status of Film and TV Development & Production
13% Decline in Production Volumes in June versus May 2024. However, the Sliver of Hope → IP & Development Transactions Increased in June!
Welcome to a brand-new edition of Vitrina’s global monitor of Film and TV productions.
While June 2024 has seen a 13% decline in global Film and TV production deal-flow compared to May, there is a notable increase in IP and Development deals. This trend indicates a potential surge in future productions. Vitrina monitors Film and TV projects across all stages—Development, Production, Post-Production, and Release—on a real-time basis. Our focus remains on examining these projects in relation to the companies, studios, and streamers involved in driving them through intellectual property, finances, production, and services/solutions.
Before delving into the metrics for June, let’s review the Global Film and TV Production Trends for 2023 and 2024. View LIVE insights inside Vitrina.
Global Film & TV Production Snapshot: Last 18 Months
Key Events in 2023 and 2024:
- Sundance Film Festival
- MIPTV 2023
- Kidscreen Summit
- Hollywood Strike Begins
- Cannes Film Festival
- LA Screenings
- Annecy International Animation Film Festival (Annecy)
- Hollywood Strike Ends
- Toronto International Film Festival (TIFF)
- MIPCOM 2023
- MIPTV 2024
- Leading players like Netflix, CBC, and Amazon commissioned a significant number of deals.
As is evident from the chart above, the industry production transaction volumes have been on the decline since Q2 of 2023. The brutal and dramatic collapse has affected every company inside the supply-chain including studios, service-providers as well as streamers and other licensees.
Insights on Production Transactions – June v/s May 2024
Vitrina monitors projects globally through various stages of content development (development, production, post-production, release) on a daily basis. We track 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.
Below are the key highlights for June specifically for Production Volumes:
- Global Production Trends: 13% decline in the Production Deals in June v/s May 2024. The Americas and EMEA saw a ~20% decline whereas there was a 11% increase in APAC.
- Genre and Language Trends: Drama continued to be the leading genre, with Comedy following closely behind. Scripted content made up 73% of the deals. English productions represented 48% of the deals, marking a 25% decrease from May. In contrast, Japanese production deals increased significantly from May, now comprising 5%.
- Top Players and Trends: Netflix and Amazon Prime maintained their stronghold in commissioning, with Warner Bros. Discovery EMEA & Bell Media following closely behind.
- Streaming Trends: Production transactions from OTT providers contributed to 21% of the total deals, with Netflix and Prime Video leading the commissioning. This trend highlights the increasing impact of streaming platforms on shaping what content people prefer and how they consume it.
- Future Outlook: Despite challenges, including declines across most genres, the industry shows signs of adaptation and resilience. However, ongoing shifts in consumer preferences and market dynamics suggest the need for continuous strategic adjustments, particularly in genres like comedy, action, and adventure.
Highlights: Global Transaction Volume of Film/TV Productions
Trends January 2024 – June 2024
This graph illustrates the trends in production volumes within the entertainment industry across different regions. In May, the Americas led with the highest number of production transactions, reflecting its dominant position in the global market. In June, while the Americans continued to have the highest number of deals, both the Americas and EMEA saw a decline in production volumes.
Conversely, the APAC (Asia-Pacific) region experienced a significant percentage increase in production transactions, moving up from its previous position behind the Americas and EMEA.
Regional Share of Global Film+TV Production Volumes June:
If we look at the June numbers in terms of proportional shares of different regions, we see that Americas tops the chart with 43% of production volumes.
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June 2024 Film+TV Productions in Summary
- Global Film+TV Production Volumes, 13% ⬇️ from May
- The Americas emerged as the leading market bloc for June, with the United States of America & Canada 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 Netflix, CBC
- Among the Top Studios, Sony Pictures & Fremantle took the lead.
Production Deals & Season Renewals:
This graph below compares overall production volumes to season renewals, highlighting how Seasonal Series significantly impact production volumes during industry slowdowns. Despite a decline in new productions in March, April and May saw an upward trend in both production projects and the number of season renewals. In June, although production deals were down, season renewals remained almost as high as in May, demonstrating the stability of ongoing series amidst fluctuations in new production volumes
- The prominent companies pushing season renewals include a mix of broadcasters, studios, and streamers such as Netflix and Bell Media.
- For global season renewals, English continued to be the dominant language, with Japanese & Spanish following. Drama and Animation genres were the most popular, with scripted content making up 79%.
Vitrina Spotlight: Production Deal of the Month!
- In an exciting development for television fans, Disney+ has signed a production deal with ITV Studios and Happy Prince to bring the beloved novel “Rivals” to the screen. This collaboration is set to create a series adaptation of the popular book by Jilly Cooper, which is known for its captivating storytelling and vibrant characters.
About the Content
“Rivals” is a part of Jilly Cooper’s renowned Rutshire Chronicles series, set in the competitive world of British television. The story unfolds in the picturesque Cotswolds and revolves around the power struggles, romantic entanglements, and scandals within the television industry. Central to the plot is the fierce rivalry between two television networks, which leads to a series of dramatic and often humorous events. The characters are richly developed, each bringing their own unique flair to the narrative, making it a compelling and addictive read.
- The prominent companies pushing season renewals include a mix of broadcasters, studios, and streamers such as Netflix and Bell Media.
- For global season renewals, English continued to be the dominant language, with Japanese & Spanish following. Drama and Animation genres were the most popular, with scripted content making up 79%.
Why This Collaboration is Important
- Global Reach and Distribution:
Disney+, a leading streaming service with a vast global audience, brings an extensive reach to the project. This ensures that “Rivals” will be accessible to a worldwide audience, amplifying its impact and viewership potential.
- Production Expertise:
ITV Studios is renowned for its high-quality production values and successful track record in creating popular and critically acclaimed series. Their expertise in television production will ensure that “Rivals” is adapted with the highest standards, preserving the essence of the book while delivering a visually stunning and engaging series.
- Creative Vision:
Happy Prince, a boutique production company known for its innovative and creative approach to storytelling, will bring a fresh perspective to the adaptation. Their collaboration with ITV Studios and Disney+ promises a unique blend of creativity, quality, and entertainment.
- Strengthening Content Portfolio:
For Disney+, this deal is a strategic move to diversify and strengthen its content portfolio, particularly in the realm of adult dramas and literary adaptations. This aligns with their goal to cater to a broader audience demographic beyond family and children’s programming.
- Cultural Impact:
“Rivals” is a culturally significant story that resonates with themes of ambition, rivalry, love, and betrayal, making it a timeless piece that can captivate audiences across different age groups and regions. Its adaptation is likely to spark renewed interest in Jilly Cooper’s works and the Rutshire Chronicles series.
In conclusion, the partnership between Disney+, ITV Studios, and Happy Prince for “Rivals” is a promising venture that combines global distribution, production expertise, and creative vision. It is set to deliver a high-quality adaptation of a beloved novel, poised to become a major hit among viewers worldwide.
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.
We’ve seen a whopping 500+ projects that are in early stages of concept development. More than 500 IP & Development arrangements were signed in the month of June – These include Books, Formats, Novels and a host of other IPs that are being considered to be turned into films or television content.
Vitrina provides a wealth of insights into buyer interests, catering to both content acquisition and the onboarding of service providers. Our vast network, comprising over 65,000 executives within the Vitrina Business Network, offers a distinct advantage.
By analyzing the searches conducted by these companies & people, Vitrina unveils what they are actively seeking, thereby offering a comprehensive understanding of market demands and trends.
Moreover, heads of localization and VFX companies recognize the value of Vitrina as a platform to showcase and promote their services. Through Vitrina, these professionals gain visibility and access to potential clients, enhancing their business opportunities and reach.
As a sneak peek, here are some of the most searched items for the month of June, providing a glimpse into the current trends and interests within the industry.
- Most searched keywords for Content: “Food and cooking shows” , “Animation” , “Reality”, “Reality shows”, “Anime”, “dramas”, “documentaries”, “Japanese Anime”, “Turkish drama”, “tv formats”,
- Most searched in Content Services: “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 projects and all companies, globally and in real-time. Our monitoring of content titles 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, assisting them with trends, leaderboards and specialist vendor/ partner recommendations. Given below are glimpses of the 125,000 companies monitored by Vitrina:
Entertainment Companies Tracked by Vitrina Worldwide Last Week: 125,000+
- Streamers+Broadcasters : 7,797
- Production Houses : 83,493
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- Most Popular on Vitrina: Paramount Pictures
- Highest Reputation Scores : The Walt Disney Company, WildBrain
- Post Houses : 6,687
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- Most Popular on Vitrina: Industrial Light & Magic (ILM)
- Highest Reputation Scores : Prime Focus Technologies, Company 3
- Distributors : 10,254
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- Most Popular on Vitrina: All3Media International
- Highest Reputation Scores : Nordisk Film, Blue Ant Media
- Localization : 868
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- Most Popular on Vitrina: Iyuno
- Highest Reputation Scores : Zoo Digital, Visual Data Media Services
