CREATIVE INNOVATIONS New
in the Movie and TV Industry By Russell Lee Oquist
T
he pandemic has had a major impact on many industries, as well as, our day to day lives. One of the industries that has been affected in a major way has been the Movie and TV production industries. Initially movies were very difficult to shoot due to the quarantines and restrictions on the gathering of groups. This is starting to change and it is easier to start making movies and TV productions with some careful following of the various guidelines and restrictions. However, the traditional ways to make this industry profitable have also taken a hit. The financial risks of making movies and TV series are greater than ever and some of the traditional revenue streams are no longer available. For instance, the box office took a gigantic hit as the theaters have been closed for over a year now. Many believe that they will never fully recover. For instance, sales and rentals of Videos and DVDs keep going down. OTT (Over the Top Delivery Services) like NETFLIX, AMAZON, HULU, etc. are becoming very popular. However many believe that fewer “gate keepers” puts the independent producer in a weaker position. Making movies is always a risk, but even when you have a successful movie the companies then need to move onto the next project and the risk factor starts all over again. Many production companies are looking to land a syndicated 4 • HOLLYWOOD MONTHLY
TV Series. When successful, this is often the most rewarding and secure line of profit for a production company. However, there is a great deal competition for being able to fill one of the networks key slots. The company needs to take the original concept and pitch it to the network and attach a show runner. If they can convince the executives that the concept is good, then they need to produce a pilot and hope that the network likes it and is willing to take the risk to commit to an entire season. If they are successful, then they can move ahead. If the idea is rejected anywhere in the process, then a lot of time and money have been lost. As profitable as it has been to make a great movie (if it is successful, of course), a successful Syndicated TV Series is the gold standard for many producers. If you can produce a hit TV show you can have several years of profitable productions and residuals. Friends for example, a very successful sitcom that has developed a cult following in recent years is the 90’s. According LivingALot.com, the series brings in approximately $1 billion in residuals each year. The former stars of the show receive around two percent in residuals meaning the cast makes roughly $20 million just from the syndication. Even though several cast members, such as Jennifer Aniston and Lisa Kudrow, continue to work in film and TV, it’s safe to say they don’t need to.
Producer Frederico Lapenda If you create a great storyline with an intriguing set of characters and fill it all in with great writing and multiple twists in the storyline, you can have the consumer hooked and waiting for each new episode. Better still, when they can, they will “binge watch” the whole season as fast as possible. The Big Bang Theory for example, was able to receive one of the biggest syndication deals of all time. The network TBS paid CBS $1.5 million per episode to get it syndicated on their network. Fox broadcast paid $500,000 for each episode. This brought them a total of $2 million per episode back in 2010. While it is unclear how much the cast makes per episode, Jim Parson, who played Sheldon Cooper on the series, brings in about 10 million a year in residuals. You might say that a successful TV series is the Golden Goose.
