Hat Trick Navigates a Risk-Averse Market

Asked about the current health and vitality of the formats market, Sarah Tong, director of sales at Hat Trick International, describes it as: “Very risk-averse.”

“It feels like broadcasters are looking at revamping tried-and-tested formats rather than taking ‘risks’ on your new ideas,” she tells TV Formats Weekly. “We are finding some interest in health and wellbeing shows, which is fortunate, as we have a fantastic Aussie series in this space, Do You Want to Live Forever?, which aired on Nine Network last year.”

Tong admits that it has been a tough year across all genres but cites continued success for formats such as Have I Got News for You and Rich House Poor House, which have been recommissioned globally. The former has a second season order from CNN in the U.S. “We hope that these hit shows will continue to rate and return, along with other entertainment favorites such as Whose Line Is It Anyway? and Dinner Date,” says Tong.

Hat Trick is also having more conversations for scripted formats, “so we hope that this area will continue to grow—especially with comedies that, when very localized to their home country, don’t travel as finished shows but can do brilliantly as a format and localized country by country,” Tong says.

In this challenging market, getting a fresh, original concept over to commission may not be easy, but, of course, it is still possible—with the right ingredients. It needs to be “new, different, never been tried before,” Tong says. “Unfortunately, currently, that is viewed as risky and is a tough sell in tough times. A new spin on an existing format manages the risk while delivering new concepts, such as Rich Holiday Poor Holiday, which is a diversification that follows on from the success of Rich House Poor House, and, more recently, Have I Got Sport for You, which is a spin-off of the juggernaut that is Have I Got News for You that aired on BBC One last December.”

As for landing recommissions on formats, Tong says that “ratings drive returning commissions. We’re seeing this with all of our evergreen returning format brands, which is testament to the quality and genius of the original ideas.”

Budgets are feeling the squeeze across the board, so having some cost-effective propositions in the catalog is key for success in this market. “We work closely with producers we represent, including Hat Trick Productions and smaller independent companies like Strawberry Blond, creator of Strangers on a Plane,” Tong says. “These independent producers excel at stretching tight budgets without compromising quality, and through them, we can offer valuable consultancy and support to help international producers maximize efficiency while adapting formats.”