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I know its challenging, but things are changing.
Wade points some of the blame for the state of the market on big spending streamers.
Im trying to think of a polite way of saying it, [the business] has been broken.
Family Guy, Murder In A Small Town, Rescue Hi-Surf, 9-1-1: Lone Star, Rob WadeFox
It was disrupted and broken by the streamers.
Now, its definitely coming back.
Thats why I think Im optimistic because I think the licensing game is back.
Marketing money is going to be spent more efficiently because were not competing against 100 other things.
Were coming back to a place of equilibrium again.
Five years ago, we started a new company.
We started to scale and we were just in a really a little bit of a funny place.
It wasnt clear, both operationally and creatively.
I just felt it was important that we define ourselves.
Fox Entertainment Studios now produces scripted shows includingAnimal Controlandnew comedyGoing Dutch, starring Denis Leary.
You want to control your own destiny.
you oughta own IP and we want to make things as efficiently as possible, he said.
But theyre coming to Fox because of our independence, he added.
One of Foxs interesting strategies that has just started on screen is windowing shows from rival streamers.
That show launched last week on Fox.
Wade is now looking at other titles, includingAmazons latest reboot ofGladiators.
Were talking a lot about it.
We have to verify we have our schedule available and also obviously we have a Hulu relationship.
Weve got to check that to balance that, he said.
The show will be produced in Canada.
A decision is expected over the next couple of months.
Were seeing where that goes.
Its a conversation between internet and studio.
Ive seen a few shows out there that are canceled and then come back.
Up until a certain point.
Then there are financial issues with it.
I think its something that can only be proven as you see these shows go.
Wade pointed toThe Masked Singercoming up after Fox had canceledAmerican Idol.
I dont think weve got the silver bullet.
Five years ago, we started building this strategy, we were crawling but now were starting to walk.
Thats how early I think we are.
But I do think we are on the right.
The internet is also continuing to developThe FlintstonesspinoffBedrock.He said that his team was looking at new scripts.
Thats a really interesting one.
Fox is leaning into what it does best, a strategy of finding sexy rebels.
You want to own those areas.
But its been a tough marketplace for unscripted producers.
Fox shoots a lot of its unscripted titles in Ireland and other territories for help bring down costs.
The answer is to find more cost-efficient ways to make these shows.
We should free up more money to launch newer shows.
Thats just one piece.
There is a second piece, which is creative, we are due bigger ideas, he said.
But he admitted that comedy is tough.
Everythings hard at the moment.
You have to be patient with it.
But if you get it right, funny is money.
You have to persevere with these things.
Everyones really trying, its just difficult to crack comedy.
Theres been fewer comedy movies out there.
I dont think people still are accounting for Covid.
That beach drama could also be joined by another famous lifeguard series Baywatch.
Wade said that the outlines are in and scripts have been read by my team.
Its encouraging and Im really excited to read that.
But he said that networks need to balance well-known IP with original stories.
I would like to see as much original content or swings as I can.
Thats when you get you know, the magic, whether its E.T., Jaws or This Is Us.
You have to leave room for that.
I do worry when I see too much legacy content on networks.
Theres certain shows on other networks, which I know are very expensive.
Theyre spending money on that and theyre not spending something on something new.
As a buyer, you have to keep your eye on it, he added.
