Markets

Miami: The Good Value of Two Markets

Miami: The Good Value of Two Markets

In January, Miami mirrored Budapest's June scenario: NATPE GLOBAL and CONTENT AMERICAS both held events consecutively within two weeks. Unlike Budapest, where NATPE was significant and CONTENT AMERICAS minor, the situation in Miami was different. NATPE focused on a global audience, integrating the US domestic market with Hispanic and Latin communities, while CONTENT AMERICAS targeted US Hispanic, Latin American, and Iberian markets. Despite the redundancy of concurrent events, the business value was evident in Florida.

NATPE attracted worldwide distributors, providing access to US 'anglo' market buyers, a niche underserved by recent events. The resurgence of strong US second-tier VOD platforms rejuvenated this market. European, Turkish, and Latin suppliers expressed interest in future participation.

CONTENT AMERICAS, seizing the opportunity after NATPE's 2023 collapse, successfully retained its January slot. It appealed not only to US Hispanic and Latin American markets but also to Iberia and the Turkish community. The event was bustling, with numerous meetings, events, and announcements, including a glamorous 'Turkish Drama Gala.'

CONTENT AMERICAS reported 2000 attendees, +150 exhibitors, and around 1000 buyers, while NATPE GLOBAL had fewer attendees—1500, +120 suppliers, and +700 buyers—but boasted a higher density of buyers with strong acquisition power. There is speculation about the future of the two markets and whether they will continue next year. Many oppose the two-events model due to added costs, time, and efforts. However, it's likely that both events will persist as they did this month. NATPE relied partly on booth sales to offset debts from its 2023 edition, but organizer Brunico remains satisfied with the outcome.

Market trends
 Major US studios continue to expand their international distribution efforts. Disney recently added a dozen new hit titles to third-party sales, ranging from classics like 'Beauty and the Beast' to recent releases such as 'Cruella,' 'Mulan,' and 'Zootopia.' Warner Bros. now operates with three commercial tiers: exclusive products for Max, including original series and top theatrical releases; co-exclusive content with one partner, featuring recent hits; and the remaining content with multiple windows. MGM Amazon has not introduced new titles since October but has significantly improved sales, with 48 Amazon originals now available to others.

Sales trends
 Original series are primarily in demand by other VOD platforms, while feature films are sought after by free TV channels. In the US market, Roy Ashton from the US agency Gersh describes the current landscape as challenging for major content developers due to production delays caused by strikes. SVODs have emerged as winners, saving on production costs while maintaining revenue streams. Netflix alone generated $1.5 billion in cash during this period. Agencies like ours are exploring options such as pushing international TV business, albeit with lower budgets, or venturing into other segments like sports or social media.

Rising content trends include sustainability and global warming themes, tech and robotic tips for entertainment formats, large-scale formats for free TV prime-time slots, personality shows featuring celebrities from various domains, especially music personalities, and the popularity of 'True Crime' across both pay TV and free TV platforms. Scripted and unscripted content are converging, with entertainment shows seeking fiction hits characterized by emotions, conflicts, and iconic characters. It's crucial to remember traditional programming basics, tailoring content to the target audience for optimal engagement across channels.

(in collaboration with @Prensario)
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