Series Development: Same But Different
Hi everyone,
Hope you all had a wonderful 4th of July holiday!
Thank you for all the nice notes in response to my dispatch last week. I received lots of questions, mostly about Series, so I’m going to try and tackle that over the course of this month in my dispatches.
I also received questions about my FS Pro program and since there’s interest, we’ve re-opened applications for 2022 and you can read all about it here. For those of you wanting to start a consulting relationship with me on your project or slate of projects, this is the best way!
Series Development - same but different from indie features
I guess the first thing I’ll say about series development that I’ve learned over the last couple of years is that as a producer with roots in indie film, I feel well equipped to develop series projects insofar as the basics are the same - sourcing marketable material, working with writers to hone a pitch/treatment/script, and packaging said material to the point it feels ready to take to market. Side note: packaging didn’t used to be a crucial component of series development but it is today as witnessed by all the celebrity led project announcements.
However, where the similarities end is that in the indie film world, your next step would be to go out and raise money to produce the project and get it made. With series, very rarely is there a case to be made for raising money and producing it yourself and frankly, this is where I see a lot of financial house of cards collapsing.
In the series world, after you develop and package the material either on your own dime or in partnership with another company who is funded, you take your pitch or sometimes a pilot script, to the market to be commissioned by a streamer or network or combination of sources. International co-productions are alive and kicking in the series world at the moment and in fact, is where much of the growth is. Another positive for indie film producers who are accustomed to cobbling together funds from multiple sources.
Over the last few years I’ve learned a couple important lessons about series development…
First and foremost, it’s extremely expensive. From securing rights to commercial IP to hiring ‘the right’ writers to develop a pitch with you … if you’re dealing with WGA repped writers, it’ll cost you even more, which is why I’ve been focused on developing series projects outside the US with non-American, non-WGA writers. I have a couple projects which are with WGA writers and the amount of sunk costs can be staggering for a small production company.
The second important lesson I’ll leave you with, and on a more positive note, is that the buyers, partners, and talent have become a lot more open about where the material comes from. Meaning, you can be a small fish, but if you have the right IP or developed concept that is in demand, they want to hear from you. Gatekeepers be damned! Or maybe not entirely but at least it’s much easier to get through these days and get your project considered if you have the goods.
The challenge of course, and where the rubber meets the road for production companies both big and small, is in finding the right material. That’s what it all boils down to… that and being able to develop a diverse slate of series projects without spending a fortune and going out of business. And that’s where collaborations and partnerships come into play which fortunately are all the rage right now as everyone is trying to mitigate the enormous financial risks of series development.
What do you think?
Comment below with your thoughts and what challenges you’ve run into while developing a series and let me know any questions you have.
On that note, I’ll wrap things up for today. I hope you have a wonderful rest of week and I’ll speak you again soon.
To your success,
Stacey
PS: I cover a lot of ground in series development as part of my FS Pro program so be sure to check out more details and apply here if you’re interested.
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