Nov 26, 2020
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Execs at MIPTV set economic game plan

CANNES — Stable markets, greater fiscal clarity and steps to avoid protectionism and copyright theft are the key measures that will help keep the entertainment economy on track, executives at the MIPTV market said Thursday.

As G20 world leaders including President Barack Obama gathered in London to hammer out a game plan to reverse the global recession, TV executives here outlined a range of economic issues they said were critical to keep the industry afloat.

“Most of all we need a return to market stability, then we can get on and do our jobs,” said Lee Bartlett, managing director of ITV Global, part of one of many broadcast groups that have seen their shares tank over the past 12 months.

“What has to come out of the G20 is a real plan for the future so the whole market can calm down,” added a senior studio distribution exec. “At the moment it is impossible to make any plans for even the near future because you don’t know what’s coming next.”

Some media execs said the G20 had to do more to improve visibility in the banking sector, where there are fears that a tranche of loans to private equity firms may yet turn sour.

“There are still black holes out there that might take a couple of years to feed through but many of these assets have lost chunks of value and so refinancing is going to be really tough,” said one exec with extensive experience of the sector, “It all adds to the uncertainty.”

As well as the macro-economic climate, many voices are calling for action to address the negative impacts of the digital revolution on all sectors of the entertainment business.

“We need some anti-piracy measures and we need them quick,” MGM Worldwide Television president Gary Marenzi said. “Our biggest competition is not other studios, it’s not other programming, it’s piracy. That’s where we are losing the bulk of our money. It’s taking so much value out of the business.”

Marenzi also called for an opening up of global markets.

“There are too many import quotas. We are all hopeful that markets like China are opening up, but at the moment there are too many import restrictions. We understand that we have to be respectful to their culture, but piracy, censorship and import restrictions are all things we need less of.”

Protectionism is a concern across the board, particularly as many G20 leaders turn to state-driven solutions to the current crisis.

“I’m just worried about a return to nonliberal tendencies, increasing the role of the state in the running of business,” said Jan Mojto, head of German production and sales group Beta Film. “We have a lot of experience with those models and they have pretty much proven themselves to be failures.”

Overall, the sentiment among entertainment business execs was that the entertainment industry could fix itself, but only if world leaders fixed the economy.

“What I hope, coming out of the G20 is a return to confidence,” said Wayne Borg, COO at Abu Dhabi-based media group twofour54. “That’s the key to our business. When producers and broadcasters are confident, they invest in new content and new programming. When consumers are confident they spend money on that content now, and don’t worry about what will happen tomorrow.”

Source: Hollywood Reporter

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Front Page, Industry News

Execs at MIPTV set economic game plan

CANNES — Stable markets, greater fiscal clarity and steps to avoid protectionism and copyright theft are the key measures that will help keep the entertainment economy on track, executives at the MIPTV market said Thursday.

As G20 world leaders including President Barack Obama gathered in London to hammer out a game plan to reverse the global recession, TV executives here outlined a range of economic issues they said were critical to keep the industry afloat.

“Most of all we need a return to market stability, then we can get on and do our jobs,” said Lee Bartlett, managing director of ITV Global, part of one of many broadcast groups that have seen their shares tank over the past 12 months.

“What has to come out of the G20 is a real plan for the future so the whole market can calm down,” added a senior studio distribution exec. “At the moment it is impossible to make any plans for even the near future because you don’t know what’s coming next.”

Some media execs said the G20 had to do more to improve visibility in the banking sector, where there are fears that a tranche of loans to private equity firms may yet turn sour.

“There are still black holes out there that might take a couple of years to feed through but many of these assets have lost chunks of value and so refinancing is going to be really tough,” said one exec with extensive experience of the sector, “It all adds to the uncertainty.”

As well as the macro-economic climate, many voices are calling for action to address the negative impacts of the digital revolution on all sectors of the entertainment business.

“We need some anti-piracy measures and we need them quick,” MGM Worldwide Television president Gary Marenzi said. “Our biggest competition is not other studios, it’s not other programming, it’s piracy. That’s where we are losing the bulk of our money. It’s taking so much value out of the business.”

Marenzi also called for an opening up of global markets.

“There are too many import quotas. We are all hopeful that markets like China are opening up, but at the moment there are too many import restrictions. We understand that we have to be respectful to their culture, but piracy, censorship and import restrictions are all things we need less of.”

Protectionism is a concern across the board, particularly as many G20 leaders turn to state-driven solutions to the current crisis.

“I’m just worried about a return to nonliberal tendencies, increasing the role of the state in the running of business,” said Jan Mojto, head of German production and sales group Beta Film. “We have a lot of experience with those models and they have pretty much proven themselves to be failures.”

Overall, the sentiment among entertainment business execs was that the entertainment industry could fix itself, but only if world leaders fixed the economy.

“What I hope, coming out of the G20 is a return to confidence,” said Wayne Borg, COO at Abu Dhabi-based media group twofour54. “That’s the key to our business. When producers and broadcasters are confident, they invest in new content and new programming. When consumers are confident they spend money on that content now, and don’t worry about what will happen tomorrow.”

Source: Hollywood Reporter

Leave a Reply

Your email address will not be published. Required fields are marked *

Front Page, Industry News

Execs at MIPTV set economic game plan

CANNES — Stable markets, greater fiscal clarity and steps to avoid protectionism and copyright theft are the key measures that will help keep the entertainment economy on track, executives at the MIPTV market said Thursday.

As G20 world leaders including President Barack Obama gathered in London to hammer out a game plan to reverse the global recession, TV executives here outlined a range of economic issues they said were critical to keep the industry afloat.

“Most of all we need a return to market stability, then we can get on and do our jobs,” said Lee Bartlett, managing director of ITV Global, part of one of many broadcast groups that have seen their shares tank over the past 12 months.

“What has to come out of the G20 is a real plan for the future so the whole market can calm down,” added a senior studio distribution exec. “At the moment it is impossible to make any plans for even the near future because you don’t know what’s coming next.”

Some media execs said the G20 had to do more to improve visibility in the banking sector, where there are fears that a tranche of loans to private equity firms may yet turn sour.

“There are still black holes out there that might take a couple of years to feed through but many of these assets have lost chunks of value and so refinancing is going to be really tough,” said one exec with extensive experience of the sector, “It all adds to the uncertainty.”

As well as the macro-economic climate, many voices are calling for action to address the negative impacts of the digital revolution on all sectors of the entertainment business.

“We need some anti-piracy measures and we need them quick,” MGM Worldwide Television president Gary Marenzi said. “Our biggest competition is not other studios, it’s not other programming, it’s piracy. That’s where we are losing the bulk of our money. It’s taking so much value out of the business.”

Marenzi also called for an opening up of global markets.

“There are too many import quotas. We are all hopeful that markets like China are opening up, but at the moment there are too many import restrictions. We understand that we have to be respectful to their culture, but piracy, censorship and import restrictions are all things we need less of.”

Protectionism is a concern across the board, particularly as many G20 leaders turn to state-driven solutions to the current crisis.

“I’m just worried about a return to nonliberal tendencies, increasing the role of the state in the running of business,” said Jan Mojto, head of German production and sales group Beta Film. “We have a lot of experience with those models and they have pretty much proven themselves to be failures.”

Overall, the sentiment among entertainment business execs was that the entertainment industry could fix itself, but only if world leaders fixed the economy.

“What I hope, coming out of the G20 is a return to confidence,” said Wayne Borg, COO at Abu Dhabi-based media group twofour54. “That’s the key to our business. When producers and broadcasters are confident, they invest in new content and new programming. When consumers are confident they spend money on that content now, and don’t worry about what will happen tomorrow.”

Source: Hollywood Reporter

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Your email address will not be published. Required fields are marked *

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