Banijay Rights’ Cathy Payne Shares Shares View of the European Market

Banijay Rights, the distribution arm of Banijay Entertainment, is home to a multi-genre selection of some 220,000 hours of content from 130-plus in-house labels and third-party producers. The catalog includes a range of drama titles, from popular crime procedurals to premium shows such as Bergerac, Grantchester and Richard Gadd’s Half Man. CEO Cathy Payne offers her view of the European scripted market as it adapts to changing financing models, greater selectivity and fewer co-production partners. What has remained constant is the audience’s desire for strong storytelling and characters they can identify with.

WS: What have been the main challenges facing the European scripted market over the past few years?
PAYNE: As has been well documented, the retraction of the U.S. co-production market in recent years has had a marked impact on the ability to underpin deficit financing. The number of potential co-production partners has decreased as a result of the consolidation of services, commissioning decisions and a preference for domestic commissioning. Potential partners are very selective and [are looking] for a project to be packaged well with known on- and off-screen talent, as they ask, “How will this project resonate with my audience?” This has resulted in distributors needing to be selective about the financing risks they take.

WS: In drama series, are certain subject matters or number of episodes more in demand?
PAYNE: Potential licensees, in general, do not have limited series on top of their shopping lists. The focus is on returning series that allow them to build on their initial marketing expense. There will always be shows that break the mold, but they have to be special—with unique talent or just be a very special, strong project that has the ability to resonate globally, such as the Netflix hit Adolescence.

WS: What about within Europe?
PAYNE: For streaming in Europe, it’s been well documented that consolidation has been a mainstay over the last few years. Viaplay, for instance, expanded then contracted. Now, they have a new focus on their key markets. HBO is coming into the market quite strongly after pulling back from their original European commissioning, while Paramount isn’t commissioning outside of the English-language territories—the U.S., the U.K. and Australia—at present; we will see their new strategy emerge in the next few months. Amazon has selective commissioning. Netflix has been the most consistent.

For linear, elsewhere across the continent, we have seen plenty of alliances with public broadcasters. ZDF has been working more closely with the BBC, for instance. Then, of course, you have alliances between countries. Everybody’s looking for affordable scripted projects and how they can potentially co-develop and co-fund. Understanding how budgets can be maximized through tax credits is essential, and Banijay, being the largest scripted producer in Europe, is well placed in this area.

WS: Are buyers avoiding taking risks with drama series? What do new ideas need to catch buyers’ attention?
PAYNE: A really good show will cut through. Take Richard Gadd’s Baby Reindeer [as an example]. It is a compelling story that delivered on so many fronts—from the performances to the production—and is must-watch television that you cannot stop watching. It’s a story told in a very interesting way. That’s what’s so great about Richard—he’s telling different challenging stories that capture the audience’s imagination. Half Man, for the BBC and HBO, stars Gadd and Jamie Bell as estranged “brothers” Ruben and Niall, respectively. This sort of relationship is one you just don’t see on screen that often, and the drama forms part of our lineup at the London TV Screenings, along with the likes of The Forge Entertainment’s upcoming standout titles Falling and A Woman of Substance.

We always say no one knows what will be a hit until it breaks through, but, of course, crime procedurals have always been a genre that’s endured over the years. People are looking for strong storytelling and characters an audience can identify with—whether they’re good or bad—and who they can go through the journey with. But no doubt, if buyers are thinking of risk, it helps to have very strong talent attached to it. By having that talent, you’re helping them formulate in their minds how to sell it to their viewers.

WS: How do you help producers secure financing?
PAYNE: We read scripts, we give our advice and we talk about attachments. This is a constant process at Banijay Rights. Like many things in life, a lot of financing is about timing. Potential licensees need to understand where the story arc is and where season two goes. When we’re looking at what we invest in, I often think, “OK, that’s season one. How much more is it going to cost for us to also invest in the next two scripts for season two?” Another thing that can really help with production speed and costs is having all the scripts written up front because then you can shoot and get talent in and out. This certainly helps with timing around high-profile talent.

It goes without saying that the market has been challenging. And while it’s not all bad, people need to have realistic expectations about what will presell and what won’t, knowing most won’t unless there’s a specific reason. I suppose buyers are asking, “Why do I need to take the risk to secure that now when I could wait and see it?” And we’ve had executive turnover in so many places. People have come; people have gone. That takes time because new executives might have to work through their incumbents’ slates.

WS: Would you give some examples of your distribution strategies?
PAYNE: We have a varied slate with different needs, so it’s about being flexible. People are sharing windows. Nonlinear platforms might only take a select number of territories. Broadcasters are prepared to share windows in a much shorter timeframe because they have to secure financing. When do you need exclusive rights? When can you live with non-exclusive? We’re seeing, in general, so much more non-exclusive licensing. Not always around the premiere window, but keeping the windows very manageable. Day-and-date is a must-have for anything really notable.