CREATING THE NEW TV CONTENT ECONOMY

The TV content industry is worth over $240 billion per year, is growing at more than 10 per cent year-on-year and yet, hasn't changed the way it does its own internal business in decades.

The widespread disruption caused by the Covid-19 outbreak has created a boom for streaming services around the world as lockdown measures have led consumers to spend more time on their screens. Now more than ever it is a golden age to be in the business of content.

However, the pandemic has led to a supply problem. Just when demand is soaring content production around the world has frozen. Leading to a gold rush for finished content as broadcasters and streamers fight a fierce battle for attention from the audience.

Historically, the TV industry has been wedded to conducting business via face-to-face meetings and by going to trade events around the world. Indeed before the pandemic it was just about possible for an executive to spend a whole year hopping from one trade event to another, being in a new city every month of the year. Buyers and sellers were flying all around the world to meet each other at great expense—both in terms of finance, time and impact on the environment.

Covid-19 has put a stop to all of that.

The pandemic has highlighted these inefficiencies in the content industry—a business with many layers of middlemen involved in deal making. It's a slow and expensive way of doing business.

Digital transformation has been happening in the industry but the current crisis is propelling it into fast forward. And that's where digital marketplaces come in.

Digital content marketplaces such as Vuulr present a huge opportunity for the pan-Indian content industry. For content creators and rights holders, they can access new market opportunities around the world and export their shows at the click of a button. For buyers, they have a wide range of crossgenre content at their fingertips, giving them the opportunity to quickly secure shows that can give their channels and streaming services the edge in the race to satisfy the hunger for great content.

Rana Duggubati of Suresh Productions says, "Online content marketplaces like Vuulr are clearly the way forward for the industry and we are delighted to present our premium films to buyers from around the world through Vuulr."

And the advantages are there to be seen. By its very nature, a digital marketplace is a truly global proposition. Vuulr's, for instance, features more than 70,000 hours of content, drawn from more than 70 countries. Representing a single destination with a huge choice for the buyer at a TV station or streaming platform.

The Vuulr marketplace is implemented with a commission-based business model, meaning it is free to use for buyers and for sellers to list their catalogues of film & TV content; they only earn their commission fee on the seller.

The VoD platforms— from the giant players to the niche outfits—like the option to make offers with performance pricing models based on viewer count, or stream length or share of advertising revenue. In essence, the value is ultimately determined not by "hard-bitten negotiation" but by how the audience consumes that piece of content and thus it is the audience that has the final say—and not the seller nor the buyer. It's definitely a new way of thinking but also one that requires a fresh and innovative approach to content buying.

Online content marketplaces have many benefits for independent producers too; and can be attractive alternatives to physical markets if, say, a content market lacks a strong track history of programmingmaking, are located in a territory that sits outside big global media capitals or are unable to secure distribution.

In essence, digital marketplaces democratise access to distribution, giving great content the opportunity to be found and bought globally.

For instance, we recently added more than 20,000 hours of fantastic premium content from Suresh Productions, IndiaCast Media Distribution, Sony India, Alt Balaji, Zee and Toonz Media Group.

Now more than ever is the time for the online marketplace to really take off.

(Ian McKee is founder & CEO of online content

marketplace Vuulr)