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| ScreenDaily reports on the huge turnaround, after a poor 2014 |
IN THIS POST: Analysis of how Universal's shifting strategy impacts on WT; an outline of what this strategy is, with key figures; details of how the new horror universe was proposed in 2014, and how its taking shape in 2016; the Battlestar Galactica bid to take on Star Wars.
Working Title's conglomerate parent, NBC-Universal, clearly knew what it was doing in downgrading its subsidiary's relationship to 'first look' status*; NBC-U would have first refusal over any new WT production, but had no obligation to pick it up for distribution or to fund production proposals. WT have to find their own financing now, even if that still often means pre-signing distribution deals with StudioCanal or UIP, all part of the NBC-U (and Comcast) conglomerate. Gone are the days of massive block funding for WT.
Working Title's conglomerate parent, NBC-Universal, clearly knew what it was doing in downgrading its subsidiary's relationship to 'first look' status*; NBC-U would have first refusal over any new WT production, but had no obligation to pick it up for distribution or to fund production proposals. WT have to find their own financing now, even if that still often means pre-signing distribution deals with StudioCanal or UIP, all part of the NBC-U (and Comcast) conglomerate. Gone are the days of massive block funding for WT.
*See this post for details on the new deal (and a definition of first look), signed in 2012 and due to run out in 2015; no news yet of any changes
This shift in approach, which may seem surprising given how successful WT have been, reflects a hardening of Universal's commitment to the tentpole strategy, and the franchising that largely underpins this. Anita Elberse, who uses the term 'blockbuster' in her book, would approve: she argues that this is the only viable approach for any major player in any entertainment industry (she also considers football and music among other industries - a very interesting, digestible read, I recommend it).
