MIPTV 2009 at Cannes: Putting a perspective to the moaning 
By Bollywood Hungama News Network, April 15, 2009 - 14:10 IST
TANUJ GARG relays his thoughts after attending the world's biggest market for audio-visual content for the third consecutive year
The first half of the year is inordinately testing for me, as I prepare for two of the biggest industry events in Cannes - MIPTV (April) and Marche Du Film (May).
The 2009 edition of MIPTV, which concluded the week before last, threw up everything we knew about the global recession - there were absolutely no surprises but what frustrates me is the alarming alacrity with which people make sweeping generalizations and blame just about anything on the prevailing recession.
The cold winds of economic depression have been blowing over every film market in the year gone by - the Riviera was no exception. Every time a market nears completion, be it AFM or EFM, MIPCOM or MIPTV, one hears the usual moans and groans from exhibitors and sellers about dipping business and therefore the cost-effectiveness of these markets. "There were no buyers," is the most commonly heard allegation.
For content creators and acquirers like us, selling multi-rights of tent-pole Bollywood features to the world, there was no doubt that buyers' attendance, particularly from the US, was substantially down. There were fewer walk-ins into the stand than in the preceding years, and by Day 3, the wind-down to the 5-day market had already started.
But the commonly hurled allegation (above) is not entirely true. The doom and gloom projected by attendees lacks perspective. There were acquisition executives aplenty - what has changed is that these execs are operating with substantially hacked budgets, which has, in turn, made their quest for content narrow, cautious and focused. This means that because buyers know what they want before they come down to the market, they are extremely selective about the companies they want to meet up and do business with.
As this breed of buyers is likely to be the real deal-making breed, contrary to popular perception, I believe this is good news, as distributors like us have extremely targeted meetings with the people who matter.
Another by-result of this extreme selectiveness is that even after buyers have narrowed down the format of content (feature films, documentaries, short films, reality shows, game shows, television series, animation, etc.) they are looking for, they are finicky about the quality of what they have zeroed down upon. Broadcasters and aggregators for multiple platforms must acquire content that is promotable and rates well with consumers and advertisers. This has resulted in much of the content getting previewed before the market begins or viewed post the market and vetted before an offer is put on table. A downside of this though is the buyers' 'value for money' philosophy, which means that in many cases the pricing offered is not commensurate with the stature and caliber of content.
None of this may be a good thing for small-time sellers looking for short-term gains by palming off their large sub-standard libraries for throwaway prices, or for the blue-chip sellers looking for attractive prices for their quality content.
Holistically, I believe that while the prevailing mood might not result in instant sales at the desired prices but in the long-run, this patience and filtering in the interest of quality control will be healthy for the industry. It will prevent sub-standard content offered by the marginal right holders from seeping in, consequently solidifying the strength and position of the persevering big boys that own quality tent-pole product.
(Tanuj Garg heads International Syndication & Sales at Studio 18)
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