The Paramount Warner Bros Deal Isn't Considering The Independents

Key Points:

• Stuart Ford, CEO of AGC Studios, highlights the absence of independent film and international television sectors in the recent antitrust complaint against the Paramount-Warner Bros. Discovery merger, emphasizing their critical role in the entertainment ecosystem.
• The merger threatens independent film and international TV through economic pressures such as declining Pay-1 license fees and reduced negotiating leverage with U.S. streamers, leading to less revenue and capital for independent producers.
• Creatively, independent film and international TV are vital incubators for original voices and innovative storytelling, serving as essential on-ramps for emerging talent who often cannot access major studios initially.
• The consolidation of major buyers risks shrinking the supply chain for studios and streamers by limiting independent producers' ability to develop and finance new projects, potentially driving talent and audiences toward platforms like YouTube and TikTok.
• Ford calls for strategic industry planning to support and incentivize independent film and television production to sustain diverse, authentic storytelling that appeals to global and younger audiences amid a changing studio landscape.