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Issue link: https://digital.macdirectory.com/i/1451520
U.S. studios, networks and streamers found that many countries are willing to provide significant financial incentives and support to expand their film/series creation industries. And to sign up streaming subscribers in the various countries, most governments said at least 40 percent of the content had to be produced locally. Done and done because people in other countries liked the same types of stories. It’s no wonder that Ampere Analysis recently reported that Netflix is now the largest commissioner of European-scripted content. It has become increasingly easy for projects to be produced in England, Germany, France, Italy, India, Nigeria, Dubai, New Zealand and just about any country. All of a sudden global SVOD services such as Netflix and Amazon Prime aren’t just increasing the value of global content production, they are increasing the value – and production budgets – in local markets. Localized production and global distribution have also raised viewers’ content quality expectations. Our expectations have admittedly been low. With new projects coming to a halt last year, studios, networks and streamers quickly turned to check nearly or complete local projects to see which could be dubbed/subbed to fill their inventories to keep global subscribers entertained. To determine how well the films/shows resonated with subscribers, several streamers surveyed viewer acceptance of “foreign” dubbed films. They found what you might expect … very high consumer retention and engagement. Bam!! It reproves the aphorism--a rising tide lifts all boats. To compete in the new global market, studio and network-owned platforms are rapidly emulating the Netflix/Amazon strategy of commissioning more new scripted content outside of Hollywood. As the M&E industry adage goes--imitation is the strongest form of entertainment. The variety of good, interesting, different story lines will enrich the breadth of viewing options for streaming subscribers. But more importantly, it will increase the incomes of indie production/post crews around the globe and give them national and international visibility to enhance their careers. Dr. Who realized the rich potential of global streaming production and distribution said, “How interesting! This is most interesting!” And it’s all because people everywhere want to enjoy something old … something new.