Edinburgh: We Are Able to Pull Some Levers

Universal International Studios head Beatrice Springborn stated that American buyers are showing more flexibility in deal-making amidst the current market contraction.

During a global storytelling session at the Edinburgh TV Festival, Springborn, who also heads Universal Content Productions, explained that streamers are now open to acquiring rights in fewer territories. This has allowed her team to negotiate more favorable terms, such as shorter holdback periods before the rights to a show like We are Lady Parts and Day of the Jackal revert back to the makers.

“We’ve seen more freedom in terms of rights deals, especially as payments decrease,” Springborn commented. “Streamers used to secure more territories, but now we can maneuver more effectively.”

In this shrinking market, Springborn emphasized that it is the sellers’ responsibility to minimize risks by leveraging talent, intellectual property (IP), and those behind the shows being pitched.

With dwindling market budgets, she mentioned that discussions sometimes need to focus on whether specific project budgets can be cut, which isn’t always straightforward.

“You need to evaluate whether a story can afford a $2 million cut,” she said. “It depends on the writer’s willingness to compromise. It’s a negotiation over whether creativity can be sacrificed.”

Sue Naegle, who manages Dinner Party Productions and has a deal with UCP, acknowledged that market uncertainty is driving buyers towards familiar IPs. This was echoed a day after James Graham’s call for the creation of new universes instead of relying on “tried and tested IP.”

“Rebooting poorly-made projects hinders original ideas,” she stated. “While a correction may happen in the long term, it will take too long.”

With risk-taking a central theme at this year’s Edinburgh, Marianne Buckland, who oversees development for Universal-owned Carnival, noted that it’s becoming tougher to get projects greenlit for less established writers.

“We are persevering,” she added. “Things might be slower, but we are committed to our slate and will see projects through.”

Buckland stressed the importance of maintaining a small, focused slate rather than spreading resources too thin. Her indie is currently developing the Sarah Snook-starrer All Her Fault for Peacock, which recently completed its cast.

Springborn also highlighted that UIS is interested in expanding its work in the UK, a goal that will be facilitated by the new partnership with Naegle’s Dinner Party.

The executives shared their insights at the Edinburgh TV Festival, following appearances by industry figures such as Warren Littlefield and Anne Mensah.

Source: Edinburgh TV Festival