Video Age International October 2015

30 October 2015 V I D E O A G E T raditionally, during MIPCOM, Cannes becomes a party town (more so than at MIP-TV in April, which tends to be rather subdued). Perhaps it is because distributors are so certain that they will make good sales, they can afford to go the Palais in the morning somewhat hungover. Buyers, on the other hand, don’t worry about morning meetings at all, since most of their heavy negotiations take place in the evenings at four-star restaurants, at dinners organized by the major studios—all of which are present inCannes. To increase the decibel levels at MIPCOM this year, numerous parties have been planned by the Turks, who are privileged with Country of Honor status. The celebrations begin on Sunday, October 4, the day before MIPCOM opens its doors, with several MIP Jr. functions. The kids’ TV event will return this year to the Martinez Hotel on October 3 and 4, after a brief relocation to Le Palm Beach, on the further edge of the Croisette. The question is how exactly the estimated 6,500 sellers and 4,500 buyers that comprise most of the officially expected 13,656 participants will find time to also attend some of the 56 conferences scheduled during MIPCOM’s four-day program (it’s a questionparticipating executives ask often). These conferences are in addition to official daily breakfast, luncheon and screenings events. New this year: A conference program called “Into the Stream,” which will explore the changing global video ecosystem. Tomakematters evenmore complicated, Tuesday is the busiest day with the largest number of parties and conferences. Perhaps, someone should suggest to MIPCOM organizers to make Thursday — now the lightest day— the date with the largest number of events. It might keep participants from leaving earlier, essentially rendering it a three-day market (to the chagrin of exhibitors, who like to amortize costs over a longer period). But for market organizers, MIPCOM represents a cash cow that needs to be milked in order to compensate for declining MIP-TV revenues. For this reason, the successful MIPCOM is leveraged with added events, conferences and side functions, which end up not addingmuch in terms of the business of buying and selling content, but increase the number of paying attendees. For LATAMbuyers, MIPCOMrepresents the third most important market—after the L.A. Screenings and NATPE. Despite economic problems, especially in Brazil and Argentina, 150 LATAM buyers are expected in Cannes this October, including some from Central America. However, from the region, the U.S. studios will each be receiving fewer than 50 buyers. But just as important as the LATAM buyers, there are distributors from Latin America, represented by 280 companies from nine LATAM countries (215 with stands), including those from the Hispanic U.S. The currency devaluation against the U.S. dollar in Latin America is viewed differently depending on whom you ask. For buyers who pay in local currencies the depreciation doesn’t make any difference except, perhaps, that the poor economic climates require reducing content imports. Conversely, for LATAM sellers, the depreciation represents a windfall. In addition, major distributors (like the U.S. studios), tend to insure sales against currency fluctuation by investing in hedge funds, which could reduce the losses from, let’s say a 20 percent currency devaluation (as in the case of Colombia) to one as low as five percent. Just to get a sense of how severe depreciation has been for other currencies against the U.S. dollar in LATAM since 2014: Argentina’s peso is down 27 percent, Brazil’s real 20 percent, Mexico’s peso 14 percent, Chile’s peso 13 percent, while Venezuela has imposed a dual exchange rate, one with a 17 percent devaluation for the public sector imports and another at 100 percent devaluation for the commercial sector. For the major companies and U.S. studios, there is little difference betweenMIP-TV andMIPCOM. For them, no actual sales are taking place at either market. At MIPCOM, for example, studio executives and buyers go over the performance of new shows, renegotiate deals, solve contract issues and reconfigure available windows. Very few screenings are done at the stands, and they’re limited to buyers from small territories. For the U.S. studios, the only difference between MIP-TV and MIPCOM is timing, with MIP-TV coming up just before the popular L.A. Screenings. In terms of product, MIPCOM is where studios can display their complete new slate of programs — including summer hits — and when independent distributors showcase their new productions or latest acquisitions. In addition, at the start of the market, the U.S. studios will have reports (and ratings) from 13 new scripted series — including CBS’s Supergirl , NBC’s Blindspot , FOX’s Scream Queens , ABC’s The Muppets and more — that premiered between September 21 and October 2. Other new broadcast network series will be introduced through November 17, and then again in January (the midseasons will premiere at NATPE). Judging by the planned advertising campaigns by the largest exhibitors in the trades, it is estimated that at MIPCOM over 4,000 new programs are to be introduced. Of these, over 400 new scripted series will come from U.S. distribution companies alone, including Starz Worldwide’s The Girlfriend Experience , Ash vs. Evil Dead and The Dresser . Among the new offerings from another U.S.- based mini major, A+E Studios International, is the scripted series about an unscripted series, UnREAL (which already has season two commitments, something that’s particularly important to international buyers) andminiseries And Then There Were None , based on the classic Agatha Christie story. Joel Denton, A+E’s managing director, International Content Sales and Partnerships, said that MIPCOM is less about actual sales being done and more about relationships. In terms of territories where he’s seeing growth, Denton pointed to Central Europe and Africa, which is seeing its middle class grow and many new channels launch. “The big business is still in pan-regional, but we’re starting to see more channels in small, independent territories,” he said and added, “Digital delivery has helped with costs and made October is Harvesting Time For Int’l Show Biz In Cannes MIPCOM Preview (Continued on Page 32)