Endemol, Reshet launch first format

Endemol and Israeli broadcaster Reshet have unveiled the first international format developed under their newly-formed partnership.

Fundastic is billed as the world’s first live, multiplatform crowd-funding format with real-time active viewing. The live show sees aspiring entrepreneurs contend for financial backing that could make their business vision a reality, with the overall winner also receiving expert mentoring and guidance.

The format is the first to be revealed since Endemol took a 33% stake in Reshet last December.

The two companies also signed a cooperation agreement to focus on the creation, production and distribution of new multiplatform content for the international market.

“Our partnership with Reshet in Israel is all about innovation and creating the next generation of multiplatform hits in one of the most exciting markets in the world,” Tim Hincks, president of Endemol Group, said. “The launch of Fundastic is the perfect way to start and promises to be the first of many ground breaking ideas to come.”

Fundastic will be produced by Endemol Israel, which launched in April last year following Endemol’s acquisition of a controlling share in leading independent producer Kuperman TV.

The show launches on Reshet this summer.