Universal International Studios Boss Says U.S. Buyers Willing To Strike More Flexible Deals Amid Market Contraction: “We Are Able To Pull Some Levers” – Edinburgh
deadline.comUniversal International Studios boss Beatrice Springborn has said American buyers are open to more flexible deal-making amid the market contraction.
Speaking at the Edinburgh TV Festival in a global storytelling session, Springborn, who is also president of Universal Content Productions, said “we are able to pull some levers” in part because streamers are now willing to take rights in less territories.
She used the example of reducing the window of time before the We are Lady Parts and Day of the Jackal maker can be returned the rights to a show via shorter holdback terms. “There has been more free dealmaking in terms of rights especially as payments are getting lower,” said Springborn. “That also goes back to collaboration.
We didn’t used to see a world in which SVoDs would only take one or two territories so we are able now to pull some levers.” In this era of market contraction, Springborn said “our job as sellers is try to take out as many risks as possible, which comes from talent, IP and the people behind [the shows being pitched].” With less money in the market, Springborn said negotiations sometimes have to be opened up over whether budgets can be reduced on certain projects, which can be tricky. “You have to be able to look at a story and think, ‘Can I cut $2M from that?,'” she said. “It depends on whether the writer has the appetite to do that.
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