DEADLINE:How did Fremantle connect with IBI Investment House?
Together, we developed this model that I think is pretty new.
DEADLINE: What do you mean by new?
Andrea Scrosati, Christian Vesper at Finally Dawn Venice premiereFremantle
There are other funds in existence investing in scripted content.
The projects can only come from Fremantle.
So thats the intriguing component, for us.
Then, this fund will fully finance those projects, which is also rare, especially for TV.
To have a self-funded studio kind of model on drama is slightly rare.
And then Fremantle will go out and sell.
DEADLINE:What encouraged you to go down this route?
SCROSATI:Its coherent with our strategic positioning.
Talent has a lot of opportunity choices… but to super simplify, there are two key potential choices.
One, talent signs a deal with a big direct-to-consumer operation.
Its an absolutely a fine choice.
Our approach to talent is different.
This new unit helps us with this strategic positioning.
There is a tactical component because of where the market is today.
Big traditional buyers didnt stop buying but are for sure on a slower kind of pace.
We strongly believe that good content has a future.
Im very positive about where the market is going to be in three or four years from today.
In every market theres growth, and then an adjustment.
DEADLINE:If the commissioning contraction hadnt happened would you still have gone down this route?
SCROSATI:Yes, for the strategic reason I mentioned.
CHRISTIAN VESPER:NotMaria, becauseMariais a film and starts very soon.
And that was a different calculation.
How do we service our talent?
Our job is to help them get their shows made and on the air.
And this gives us one more powerful tool for doing that.
DEADLINE:Will the new fund change the way you deal with the broadcasters and streamers ?
SCROSATI:The buyers are our partners.
These shows will go to a client or a streamer.
The fund is simply a way to accelerate the production time schedule.
VESPER:One of our best clients in the UK is struggling now with some of their bigger shows.
Even if theyve greenlit them, they cant find the financing for the rest of the budget.
This is partly to step into that void.
DEADLINE:Can the fund be accessed by all the companies producing scripted content under the Fremantle umbrella?
SCROSATI:Yes, as it’s possible for you to see with the first three projects.
Its going to be fantastically global.
DEADLINE:You have set yourselves the target of a 3B turnover by 2025.
Do you think thats realistic?
And why have you set yourself this goal?
SCROSATI:The M&A weve done is all part of strategic plans.
Its been about acquiring companies that were best in class in a sector where we were not present.
Element is a fantastic example of that.
We did not have an English language, movie production company.
Or, best in class in potentially growing regions where we were not present.
We invested in Latin American company The Immigrant a few years ago when it was a start-up.
It now has three productions on the go and its first movieAdolfowon the Generation 14 Plus prize in Berlin.
Like The Immigrant, we invested in them when they had done nothing.
Its not like were buying revenue.
A lot of the M&A is investment in the future.
The other component is the cultural element.
We are a big company but were very lean.
The scripted management team is basically in front of you.
DEADLINE:Do you have further growth plans for scripted in the U.S.?
SCROSATI:Its our first territory.
In addition, Dante di Loreto is leading the scripted team and has a lot going on.
VESPER:We have a show,Fellow Travellers, coming out on Paramount+ at the end of September.
Six-part, gorgeous, about the gay panic in the CIA in the 50s.
We also produced two seasons ofMosquito Coastfor Apple.
We have a number of big shows that were about to announce.
