Will Mipcom Rekindle Hope in the Struggling TV Landscape?

This month, Mipcom is throwing a party for its 40th anniversary, and by "party," I mean a gathering in Cannes where many executives from the global TV industry are trying to keep a cheerful face despite some not-so-cheerful realities. The event, aptly scheduled from October 21-24, is unfolding in an atmosphere marked by inflationary pressures on TV budgets and broadcaster finances that can only be described as on life support. On top of that, we’re still navigating the messy aftermath of Hollywood strikes and consumer habits that seem to shift more often than a Netflix algorithm. Ah, the joys of modern media!

Lucy Smith, the entertainment division director at Mipcom's organizing body RX France, shared some particularly heartfelt words: *“Feedback from the industry has been, ‘We’ve never needed it more.’”* Talk about the perfect line for a Hallmark card aimed at overworked media executives! Yes, business is indeed difficult, but here’s a glimmer of hope—Mipcom is, as Smith puts it, *“an opportunity for the industry to meet in person and find new ways of working.”* It’s like a marriage counseling retreat for broadcasters, except more glamorous and without the awkward silences.

Last year's post-Covid bounce was all sorts of euphoric, thanks to the end of the WGA and SAG-AFTRA strikes. But just when everyone thought they could breathe a sigh of relief, Hamas decided to launch an attack on Israel, reminding us that even in the world of entertainment, real life can be a bit too real. Now, as we stand on the brink of 2024’s content market, there’s hopeful talk of attendance figures that could rival last year’s record 11,000 participants from 100 countries. Fingers crossed everyone remembers to pack their optimism along with their business cards!

“Everybody who should be there is there,” asserts Smith, cheerfully waving away any doubts. She even touts an uptick in buyers from Latin America and Asia along with larger delegations from Spain—this year’s country of honor. How very European of them! In yet another twist of irony, the Mipcom conference program has a dual purpose: tackling the industry’s pressing challenges while simultaneously attempting to leap ahead with futuristic innovations. Really, it’s like trying to teach an old dog new tricks during a thunderstorm.

Smith sums it up quite well: *“We constantly ask ourselves, ‘How can we make sure that whatever we do delivers takeaways people can use to help with new business strategies?’”* As if the stakes weren’t high enough! Keynote speakers, including the crème de la crème of the industry, will share tales of how they’ve adapted to new technologies, and trendier-than-thou audience behavior. Each speaker is another shining beacon trying to guide others through this stormy sea of change.

Speaking of shining beacons, the Mipcom networking program is designed to ‘give people tools they can use’—because who doesn’t love a good tool belt? And let’s not forget the MIP Innovation Lab, where dreams of merging content creation with technology will probably take place over artisanal cocktails and deep philosophical musings. They have everything from an Applied AI Summit to Streamers Talks, which sounds almost like a sad excuse to discuss your streaming habits while waiting in line for a cappuccino.

Ah, but it gets better. On the programming side, Beta Film’s medieval mini-series *Rise of the Raven* is set to have its world premiere at the Palais. It serves as a shining example of the growing trend in European co-productions, mixing grand stories with fine talent while cashing in on financial incentives from various countries. Meanwhile, other major groups clamor after their own epic narratives, like Mediawan’s adaptation of *The Count of Monte Cristo* starring handsome Englishmen who probably skip leg day.

In the midst of all this chaos, Smith reminds us that *“There is no other opportunity like this where the entire industry is in the same place at the same time.”* With MipTV having waved goodbye in April, Mipcom now stands alone as the final Cannes-based market of the year—like a last cookie in the jar, trembling under the weight of expectations.

Facing the swirling clouds of uncertainty affecting everyone from the colossal studios to the indie darlings, the organizers of Mipcom are secretly hoping for a miracle—some stability amidst the chaos to unite top decision-makers in plotting a way forward. *“The industry is resilient,”* says Smith, tapping into a wellspring of optimism. With strategic investments on the table, we hold our breath, hoping this year’s market will not only be memorable but perhaps, just perhaps, a little magical too.