In the fast-paced TV production sector, staying ahead of the curve is vital. The industry has witnessed unprecedented changes over the past two decades, driven by shifts in consumer behaviour, technological advancements, and market dynamics. To explore the intricacies of these transformations and explore what production companies need to consider in the content ecosystem to thrive in 2024, I was joined on Inside Content by CEO and founder of Zig Zag Productions, Danny Fenton.
Fenton founded Zig Zag in 1999 and has established the company as an innovative transatlantic television production company, respected for its eclectic approach to over 1000 hours of programme making. The company is one of the largest remaining truly independent UK production companies. Prio rto Zig Zag Fenton began his career at the BBC and spent a brief time working with a number of UK production companies.
The evolution of TV production
Fenton's journey with Zig Zag Productions, from its inception in 1999, offers a fascinating glimpse into the evolution of TV production. From humble beginnings, the company has become one of the UK's foremost independent television production companies. Fenton reflects on the industry landscape of the late 1990s, characterised by regional television powerhouses and nascent opportunities in global markets.
Our conversation highlights pivotal moments such as the passage of the Communications Act of 2003, which reshaped the industry by favouring producers' rights and IP ownership. As streaming platforms emerged and consumer viewing habits shifted, production companies like Zig Zag adapted to the changing landscape, expanding their footprint into international markets, notably the US.
Current challenges amidst change
Despite the changes that have happened since the 1990’s, what we really wanted to explore was the challenges for production companies today. We discuss the decline in linear TV advertising revenue, coupled with increased competition from streaming services and how this is impacting companies like Zig Zag, with the impact on content budgets forcing production companies to innovate and explore alternative revenue streams.
The UK and US markets, in particular, have faced significant headwinds, with declines in commissioning and content spend posing formidable challenges. Despite these obstacles, we emphasise the capacity for adaptation, withDanny and I underscoring the importance of agility in responding to market changes, echoing Zig Zag's proactive approach in exploring direct-to-consumer models and emerging markets like China.
Embracing innovation: The role of AI in content creation
We also discuss the hot topic of artificial intelligence(AI) in content creation and distribution. Fenton acknowledges both the potential and concerns surrounding AI, emphasising its capacity to streamline production processes and enhance audience engagement. From subtitling and translation to automated dubbing, AI presents opportunities for efficiency and scale in TV production.
While acknowledging the need for vigilance regarding job displacement and intellectual property issues, Fenton sees AI as a force for good, poised to drive innovation and creativity within the industry. He encourages industry players to embrace emerging technologies while remaining mindful of ethical considerations and industry standards.
Navigating forward in an ever-changing industry
The TV production landscape is undoubtedly characterised by unique challenges and exciting opportunities. By leveraging insights and embracing innovation, production companies can navigate the evolving landscape with confidence, ensuring their continued success in an ever-changing content ecosystem.
Topics discussed
- An overview of Zig Zag productions and Danny's role in the company
- The evolution of TV production over the past decade and beyond
- How changes in commissioning trends, windowing, and access to finance have affected production businesses like Zig Zag
- The global market for UK content with exports increasing
- How Zig Zag are exploring D2C models
- The current economic and challenges for production businesses and what Zig Zag are doing to overcome these
- The role of AI in content creation and production
- What production businesses need to focus on to succeed in 2024
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