Have the economy and increased regulation created content's "perfect storm?"
Despite optimistic Q2/Q3 reports from studios and platforms and indications of no mid-year budget cuts, a real possibility remains that unless the economy recovers to where revenues are more stable, the next fiscal year could see reduced content budgets and fewer purchased titles.
What a Difference An Economy Makes
We're seeing evidence of this as Warner Brothers Discovery discussed the cancelation of three films, including the $90M "Batgirl," during a recent earnings call , citing the need for better focus on how content helps the corporate brand and their respective franchises.
If titles in post-production are dropped, then content in any stage of development could face similar circumstances. While creators can't individually bolster the economy, there are a few things they can do to reduce the chances they'll find their projects on the chopping block. It starts with the title itself.
Last spring, we provided an overview of five recommended steps necessary to prepare content for global release. These include obtaining the final script, selecting markets, conducting cultural script analysis, localization, and performing a final review before regulatory submission. In writing about the slowing economy, we described how language and cultural differences directly affect global release decisions and budgets. Together, these posts link the importance of understanding how culture impacts the telling of a story and how that understanding demonstrates market viability and value to the studio or platform.
Don't Forget the Regulators
Recent media coverage shows how some regulators are doubling down on censoring "objectional" subject matter or characters in popular titles, particularly LGBTQ+ storylines or characters. The freezing out of titles or franchises from major markets and the resulting loss of millions of dollars in revenue will get a studio's attention. While some may be willing to take the economic hit for a tentpole release like "Top Gun: Maverick," knowing they will make money elsewhere, they may not be willing to do it for smaller films. This knowledge could impact production decisions for content unprepared for release to broader markets.
Overcoming Challenges
Ensuring your title is ready for the global marketplace is more crucial than ever. The combination of economic uncertainty and increased censorship levels can create the perfect storm for content creators trying to obtain the investment necessary to bring their stories to life. Spherex provides the tools and services to address both challenges. They're economical for even the smallest producers and will soon come to your desktop.
Contact Spherex today and schedule a demo of the technologies that can get you to global release and markets faster than ever.
