By Tim Hammond, Managing Director
Having just come back from MIPTV, there is a lot for us to reflect on. Whilst the market was quieter than previous years, it was very busy for us. The convergence between podcasting and TV is booming, so our experience put us centre stage for some really interesting conversations.
Diversification has become the unavoidable subject for all players of the TV industry – whether new or legacy ones. It seems that the idea of being a straightforward business that makes and sells great TV programmes is no longer the norm. TV brands are now exploited in unexpected universes, bringing additional revenues to a disrupted industry that is getting more creative business-wise each day. From “The Price is Right LIVE shows” in Vegas, to the “Love Island” water bottles and The Greatest Dancer podcast, examples of brand diversification are clearly multiplying. To some legacy players this diversification might be a sad distraction but to others new sources of ideas and routes to market are exciting, inspirational and, most importantly, profitable.
At Wisebuddah we are busy bridging the gap between TV and podcasts. With a management team that is highly experienced in both sectors we are in a unique position to provide solutions to producers, broadcasters and rights owners and I’m pleased to say that we are delighting more and more of them every month. Where once a TV producer used to have just a few clients, they now have a myriad, and even more routes to market. And where they could previously be found searching the bookshelves for the next great story to option or scanning the papers for the next crime caper to follow, now they may have just partnered with an audio producer to deliver a podcast series as a “sister” show or extension to their TV brand – or even delivered a TV series based on a story that was first heard as a podcast.
From The Greatest Dancer Podcast, a brand extension for the BBC hit entertainment series, and Beyond Reasonable Doubt which was based on the same story as Netflix’s The Staircase, to a scripted podcast series which will serve as an extension to a well-known drama series, we are certainly covering the genres. The talk at Cannes was all about how producers can bring content alive in a different way – to create their own IP, road test their ideas or simply grow their audiences. This is an extremely exciting time in the content industry. The importance of having podcasting in the content mix has been well and truly recognised – and we are really excited to be at the centre of helping to create this new form of creativity and commerciality in the industry.