Discussing Film and Television Financing on the GHJ Podcast Features Chris Spicer
In a recent episode of the GHJ podcast, Chris Spicer, head of the entertainment and media practice at Gump, discussed the current trends in motion picture and television financing. Spicer highlighted the fluctuations in streaming numbers across various platforms like Disney Plus, Universal Studios, and the stock market today over the last several months and how they are impacting co-financing deals for studios.
Spicer noted that while there are headwinds, there are also opportunities, and global trends are macro factors affecting all industries, not just entertainment and media. He found it 'interesting how those deals are shaping up' in the interplay between theatrical releases and streaming in co-financing deals.
Regarding co-financing and theatrical releases, most studios are still looking for partners, and this is still part of the business model for many. With theatrical releases back, co-financing deals are happening again. However, Spicer believes that the market for co-financing is still alive and well, and the market is not dead.
The future of theatrical releases, particularly for non-major tentpole blockbusters, is uncertain. To navigate this uncertainty, studios are turning to innovative co-financing models. Current important trends include increased reliance on multi-source funding, such as combining public film funding with TV broadcasters buying rights and international distributors providing guarantees. Additionally, community-driven financing platforms where members vote and fund projects, like Angel Studios, are emerging as innovative models to mitigate financial risks and build audience engagement.
The podcast episode also delved into co-financing for studios during times of disruption. Spicer recalled that during the onset of COVID and six months into the pandemic, there was a pessimistic view towards co-financing for equity and funds investors in the entertainment and media space. However, with the resurgence of theatrical releases, optimism is returning.
The impact of streaming numbers on co-financing deals is a significant factor in the current market. The podcast discussed how the streaming industry is affecting co-financing for studios, and how the future of streaming platforms and their numbers is influencing the co-financing market. Spicer's perspective is from the legal dealmaking side of the equation, and it is a fascinating time to see how co-financing deals have evolved.
The podcast episode focused on the question of key trends in co-financing deal structures, particularly in the context of a slowing economy due to inflationary pressures or other external factors. The podcast examines the effects of streaming platform performance on co-financing deals and the potential impact of streaming numbers on the co-financing market for non-major tentpole blockbusters.
In conclusion, the landscape of co-financing in the entertainment and media industry is evolving rapidly in response to changes in the streaming market. As streaming numbers continue to fluctuate and the future of streaming platforms becomes clearer, it will be interesting to see how co-financing deals continue to adapt and grow.
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