Welcome to the first in a series of articles looking at funding models distributors are using to meet demand for acquisitions, and how they’re securing content pipelines for 2025 and beyond. This week Passion Distribution, BossaNova Media and Hat Trick International.

Better Date Than Never from Passion Distribution

In the wake of the London Screenings and leading up to MipTV in Cannes next month, C21 has been taking the temperature of the independent distribution business. With broadcasters and streamers cutting back on original commissions amidst economic strife this could be a great time to be a distributor, with acquisitions being used to stock schedules. However, if broadcasters aren’t greenlighting new programming, where does a sales house get a pipeline of content for 2025 and beyond unless they’re part of a large production group such as Banijay, Fremantle or All3Media?

Emmanuelle Namiech, CEO, Passion Distribution
(Slate newcomers: Churchill’s Forgotten War, Help! We Bought A Hotel, The Tube: Keeping London Moving, Better Date Than Never, Stacey Dooley Sleeps Over: USA, Coastguard: Search and Rescue SOS)

How tough are you finding the market?
It’s fair to say the whole television industry is navigating through some significant challenges. The slowdown in commissioning has ripple effects across the entire ecosystem, impacting both production and distribution companies. Fewer projects are being commissioned, but there’s also a notable increase in funding deficits, adding to the complexity of operations. In addition, it’s essential to recognise that the budget constraints extend beyond commissioning new content, as broadcasters are also facing pressure on their acquisitions budget. Despite these challenges, we are resilient and adapting to ensure we continue to provide a pipeline of quality content.

What sort of trends are you seeing in unscripted programming?
Formats with global appeal. There’s a growing interest in acquiring original unscripted formats with global appeal and a successful track-record. These formats often tap into an audience’s appetite for nostalgia and also aim to keep a whole new generation entertained. Broadcasters and streaming platforms are seeking out formats that can be easily adapted to different cultural contexts while maintaining their core appeal, be it social experiment, dating, competition etc.

Premium versus affordable. The polarisation between premium, event television and returnable, cost-effective long-running shows has never been greater and the demand for mid-range content is significantly reducing. Broadcasters are looking to offer their audience arresting, stand-out premium must watch TV combined with the familiar, well-established and well liked returnable franchises that is produced on high volume at a more cost-effective rate.

Diverse voices and representation. There’s a growing emphasis on acquiring unscripted shows that highlight diverse voices and representation. This includes programs featuring underrepresented communities, cultures, and perspectives, reflecting the audience’s demand for more inclusive content.

Cross-platform and multi-format content. Acquisitions of unscripted shows that can be repurposed across different platforms and formats are becoming increasingly popular. This allows broadcasters and streaming platforms to maximise the reach and monetisation potential of acquired content.

What new financing models are you using to fund programming?
Our financing models remain diverse, incorporating a mix of funding approaches to support our programming. From traditional advances to innovative partnerships and co-production deals, we’re exploring every avenue to ensure the continued production and distribution of compelling content.

How is your role as a distributor changing in this current climate?
As a distributor, our role is evolving to meet the demands of the current climate. We’re focusing on flexibility and innovation in content distribution, leveraging digital platforms, and exploring new markets to maximise reach and revenue potential for our partners and clients. We’re hands on as a distribution partner, committed and ready to provide both editorial, commercial and funding support in ways that help content being made and monetised.

With fewer originals being commissioned it may be good to be a distributor now, but will the pipeline of content for your catalogue be a problem in 12/18 month’s time? How are you addressing that?
I think there is a misconception around the fact that lack of commissioning has resulted in a surge in acquisitions. The reality is that there is an overall increased pressure on programming budgets, whether for commissioning new content or acquiring existing titles. To address this, we’re diversifying our catalogue and actively seeking out new content opportunities while navigating budget pressures and market dynamics.

Paul Heaney, CEO, BossaNova Media
(Slate newcomers: The World’s Biggest Cruise Ship, The Push, The Infinite Deep: Stories of Lost Submarines, Mysteries of the Museum)

How tough are you finding the market?
It was tough last year for many producers and channels and the BossaNova team have tried very hard to greenlight content. This year is looking very positive for us again but more importantly the industry has woken up at last. It won’t be the same as before but it’s good to be writing this in any case.

What new financing models are you using to fund programming?
It’s the proper era of the co-production, but don’t let that rather haughty term put you off, we’re only talking about getting the projects funded through pre-sales. Sometimes soft money, ie local funds, are being used, sometimes a single commission with a substantial gap. It’s what BossaNova does all day, every day, and we’re not the only ones now.

How is your role as a distributor changing?
For some of last year we felt part agony aunt, part management consultant to many but it’s good to return to what we do best: creating and helping to develop content we think the buyers will be interested in, testing those buyers’ needs with our Development Days and still, at the core, is having as many solid trusted relationships with platforms and channels that we sell our slate to, as before.

With fewer originals being commissioned it may be good to be a distributor now, but will the pipeline of content for your catalogue be a problem in 12/18 months’ time? How are you addressing that?
We’ve had a much-reduced line up of new or returning shows over the last six months but our revenue has increased at a faster rate. What does this tell you? It has made us – the hyper focused sales team – realise that perhaps there is a blend, a happy medium, where you have way less to launch, more time to pitch, less clutter for the business to cut through. We have certainly found that our licence fees are very competitive according to our suppliers. Less is more perhaps.

Sarah Tong, director of sales, Hat Trick International
(Slate newcomers: Spinal Destination, Michael Mosley’s Secrets of Your Big Shop, Inside Ibiza)

How tough is it out there? How are you finding the market?
It’s tough; both in finding programming to represent that’s affordable (as commissioners are wanting big programme budgets but not putting in a decent proportion) as well as acquisitions budgets being squeezed. However, there are still opportunities for all genres, we’re just having to work harder to find (and fund) those gaps.

What sort of trends are you seeing in unscripted programming?  
Channels and platforms are still wanting shows that will stand out whether it’s crime, lifestyle, travelogue. Anything with a well-known talent attached is also attractive.

What new financing models are you using to fund programming?
We’re still looking at the advance model as well as putting together coproductions or enhanced pre-sales. We’re always open to innovation so will work with producers on appropriate ad-funded models that work for the international market.

How is your role as a distributor changing in this current climate?
We’re getting involved earlier in the process and working with producers to ensure that programming can work for an international market, not just the local commissioner. It’s more important than ever for producers to work with distributors closely as they will not get programming funded by the commissioning broadcaster alone so need to make sure their shows work in the international market, not just for profit but to cover the budget in the majority of programmes.

With fewer originals being commissioned it may be good to be a distributor now, but will the pipeline of content for your catalogue be a problem in 12/18 months’ time? How are you addressing that? 
We are finding that most broadcasters/platforms are wanting fewer but bigger titles in their schedules. This is good news for us as we’ve always aimed for the high-end market in terms of the programming we represent and so we have a good pipeline of content from the producers we’re already working with. But, like all distributors we’re always on the lookout for new producers and in particular look outside of London and outside of the UK to ensure we have a diverse range of content.