Fiction
Production houses keep their faith as they weigh impact of COVID-19
MUMBAI: The iconic ‘Lights, camera, action’ has temporarily been silenced across the country. The COVID-19 pandemic is wreaking havoc on the once-thriving media and entertainment industry, stymieing its smooth functioning, at least for the time being. The silver lining, however, is that despite the global impact of the pandemic, production houses are hopeful of a brighter future. Industry experts are hoping that the short-term pain will be a long-term gain. While some feel that the nation will soon be back on its feet, others are thankful for the much-needed break for creative people.
Indiantelevision.com reached out to a cross section of players in the industry for reaction.
The Film and Television Producers Guild of India CEO Kulmeet Makkar believes it is too early to predict the overall impact. It completely depends on how long this lockdown continues. “Everything is shut. How soon will theatres open is a huge question mark. Even if the essential commodities are made available, will cinema halls open for the public, considering the social distancing norm? Given all this, everyone except news channels is facing a huge setback,” he says.
Production houses that had rented sets for their upcoming shoots had to hurriedly halt things. Indian Film and TV Producers Council director Shyamashis Bhattacharya says, “We are talking to all the studio owners both at an individual level as well from IFTPC that the rent of such studios should be waived off for the period where there has been no work. Film City, where the industry has the maximum number of sets, is controlled by the Maharashtra government; we are trying to reach out to them as well on this matter. I am sure they will take an empathetic view of our concern. For sets where the producer may not get any waiver on the rent, I am sure the broadcaster of that show will pitch in and help the producer.”
Hats Off Productions co-founder Aatish Kapadia says that it is more important to look after the lives of daily wage earners and people who are in trouble because of work shortage than to worry about the rent.
Unemployment and job cuts will be a grim reality that will hit the industry soon. Bhattacharya says: “Sacking of people would be an individual choice of every producer and that will depend on how long the lockdown continues. I don’t think anyone will like to sack people if they are able to manage financially.”
Even though no jobs have been taken away yet, Makkar questions whether production houses can sustain those losses for long if the lockdown continues. For now, the focus is on the daily wage earners, the most hard-hit by the COVID-19.
Playing their part to help fellow humans, industry biggies have come forward with a heart of gold.
Red Chillies’ Shah Rukh Khan is making available his office for quarantine facilities. Balaji Telefilms’ Ekta Kapoor will donate her annual salary of Rs 2.5 crore towards helping daily wage earners and freelancers. The Yash Chopra Foundation will look after 3000 daily wage earners from the industry. The foundation will also transfer Rs 5000 to their individual bank accounts.
Meanwhile, streaming giant Netflix has contributed $1 million to the relief fund set up by Producers Guild of India. Sony Pictures Networks India will donate Rs 100 million. Zee Entertainment has also committed to help 5000+ daily wage earners who are working directly or indirectly in its overall production ecosystem.
However, the question looming large is the sustainability for producers and broadcasters when revenue doesn’t kick in for a few months. Experts suggest that if the crisis continues, every stakeholder will see more than 15 per cent of the total yearly revenue being wiped out. Although the initial support has been phenomenal, the government needs to step in soon. Even if the lockdown is lifted on 14 April, it will take time for things to get back to normal. Every single month of inactivity would mean losing 10 per cent of the business.
In the meanwhile, some parts of the production chain are still being oiled. A few production houses are doing background work to promote their shows on digital platforms. “We are doing a lot of collaborative work on Zoom calls and other Microsoft applications. The work is in progress with several channels. I am writing scripts for a web series and a film. Khichdi and Sarabhai Vs Sarabhai are back on television and to promote the shows every team is resorting to video conferencing. We are doing a lot of shoots on social distancing through our individual social media handles,” says Kapadia.
Bhattacharya says that the scripting for some shows is being conducted via email exchanges. These are shows that were commissioned before the lockdown but couldn’t get started with the shoots. “As far as absolutely new ideas are concerned, I think the broadcasters will listen to them only when the situation normalises to some extent,” he says.
Nonetheless, heads from the entertainment and media industry are hopeful that things would be better once the lockdown is lifted and the government plays its part in helping the stakeholders in the industry. But the industry will feel the pinch for the months to come.
Let’s earnestly hope that the industry will emerge unscathed from this unprecedented and hard situation.
Fiction
Banijay merges with All3Media in $6.65 billion deal
Marco Bassetti will lead the combined company as CEO
PARIS: Six years after acquiring Endemol Shine at the height of the pandemic, Banijay has struck again. The European production heavyweight is merging with All3Media in a deal that will create a television titan with $6.65 billion in revenue and redraw the contours of a fast-consolidating market.
The combined company will trade under the Banijay name and be owned 50 per cent each by Banijay Group and RedBird IMI, which acquired All3Media in 2024. The transaction is expected to close by autumn, subject to regulatory approvals.
Banijay Entertainment CEO Marco Bassetti, will take the top job at the enlarged group. All3Media CEO Jane Turton becomes deputy CEO. RedBird IMI CEO Jeff Zucker will serve as chairman.
The logic is scale. Broadcasters are commissioning less, streamers are tightening budgets and global buyers are fewer but bigger. Against that backdrop, heft matters. The merged entity will generate roughly $6.65 billion in revenues based on 2024 figures, giving it sharper elbows in rights negotiations and deeper pockets for franchise-building.
“Entrepreneurialism, ambition and creativity” remain core to Banijay’s DNA, Bassetti said, flagging plans to invest more heavily in new intellectual property, live events and emerging platforms. Turton struck a similarly bullish note, pointing to All3Media’s journey from a 2003 start-up to a global supplier of hit formats and high-end drama.
Between them, the two groups control a formidable slate. Banijay’s catalogue spans MasterChef, Big Brother, Survivor, Black Mirror, Peaky Blinders and Deal or No Deal. All3Media’s labels include Studio Lambert, producer of The Traitors and Squid Game: The Challenge; Two Brothers, behind The Tourist; and Neal Street, currently producing the forthcoming Beatles biopics directed by Sam Mendes for Sony.
The back catalogue is equally muscular. Banijay Rights holds some 220,000 hours, while All3Media International adds around 35,000 hours, forming one of the industry’s largest libraries.
Banijay, controlled by French entrepreneur Stéphane Courbit and listed in Amsterdam, counts more than 130 production companies across 25 territories. All3Media operates over 40 labels, with strong positions in the UK, US and Germany. The enlarged group will also lean into live entertainment, building on Banijay’s Balich Wonder Studio, which produced the opening ceremony of the Milan-Cortina Winter Olympics, and the Independents.
The deal marks a shift in tone. As recently as October, Bassetti suggested that mergers and acquisitions were not a priority. But the drumbeat of consolidation has grown louder. Mediawan has moved for Peter Chernin’s North Road. David Ellison’s Paramount has agreed to a $110 billion takeover of Warner Bros, with plans to combine HBO Max and Paramount plus. ITV has explored selling its media and entertainment arm to Comcast-owned Sky, though talks have reportedly slowed.
