One of my most popular articles to date has been “Getting Into Hollywood: Do I Need To Read The Trades?” In that post, I outlined the minimum types of information to look for in trades, and also suggested key trades to read. Thanks to the strong response I’ve received, in this article I’m going to follow up with specific examples of what you can find on exchanges, and how you can translate that information into selling your own projects.
Whether you work in film or television, you can put these tips to work, even if the specific example isn’t from your industry.
Let me start by recommending that you immediately get rid of any paper copies you receive of transactions and sign up for electronic versions. That way, you can easily copy and paste information directly into your databases or share it with partners and representatives. Remember, always show copyright love when necessary!
Now, here are six ways to “trade” your daily reading into a focused project-selling process:
Trade Tip #1: Track Trends
As you prepare to launch various projects, the trades tell you what’s hot and what’s not. Guess what trend you want to ride? For example, for reality TV professionals, in the last two weeks we have learned that:
My Network TV is poised to replace 33% of its programming with reality TV AND 180 soap operas targeting male audiences (reality producers, take note); Court TV’s first scripted project is a hit with viewers (fiction producers, here’s a potential new buyer!); NBC, The CW, and Bochco himself are about to launch original web-based shows (everyone, still ignorant of new media?); and networks in general are looking for cheap ratings bonanzas in brand-friendly game shows (have a talent pool you don’t know how to capitalize on yet?) All that information should help show creators decide which ideas to go with. prioritize. developing to maximize sales possibilities. Database these updates in a simple table or spreadsheet, and you’ll always be on time for your presentation meetings. And remember, the executives you are pitching expect you to know this information if you were in the trades!
ACTION PLAN: In Word or Excel, create a simple table with columns for the network/studio name, schedule announcements, and announcement dates. (When you buy my book, “The Show Starter Reality TV Made Simple System, Vol. 1: How to Create and Pitch a Sellable Reality Show,” if you join the Show Starter Online Group, you can access an archive of over a dozen network schedule announcements from this year’s upfronts).
BONUS ROUND: If you don’t have releases that are trending, rework existing projects to stay current. Is there a cooking theme you love that could also make a great game show? For helpful tips on the process, read “Show Starter, Vol. 1” pp 25-27.
Update Tip #2: Run “Offsets” on Projects Similar to Yours
TV producers, before any pitch meeting you have, absolutely make sure you check the late-night ratings of current shows on that network AND any shows anywhere else that are similar to yours. Filmmakers, keep a regular eye on the weekend box office of any studio or company you hope to meet with or any film in its genre.
Now for the example: remember the new and now old ABC show “The Great American Dream”? By the end of March 2007, if you were about to host any dream-fulfillment show anywhere, or any show AT ALL on ABC, a quick look at a day’s worth of exchanges would have shown that “Dream” had completely collapsed. in episode one (reports report – 03/28/07). . .and was canceled after episode two (cancellation item – 03/29/07 – as in NEXT DAY ops).
Translation: This might be a bad time to launch a new dream-come-true project anywhere, and ABC executives might be particularly wary of new-genre projects in general. Isn’t that something you’d like to know before entering the room? Your BET. At least so you can explain why your project isn’t vulnerable to the same rating risks? And don’t be blinded even if you see high ratings. The fact that the exchanges are reporting “Fox picks up 13 more episodes of 5th Grader,” could mean Fox wants to make another deal with Mark Burnett instead of buying his equally scathing game show.
ACTION PLAN: Take a quick review of the ratings in daily transactions to compare your release list with current shows. Push danger zone programs to the bottom of your list, if you introduce them in the next few weeks. Then switch at least one brand-appropriate trending winner to your top three opening pitches.
BONUS ROUND: Brainstorm alternate versions of your danger zone releases (Show Starter, Vol. 1, pp 25-27) so they no longer rely heavily on now-risky items. Then, if an executive challenges them, he can immediately respond with a thoughtful twist on his speech.
Trade Tip #3: Dissect the Negotiating Points
If you’re not sure what to expect and ask for in your own deals, read through the trades to keep up with what everyone else is offering or getting. For example, to all of you filmmakers who are primarily fighting to get a piece of DVD rentals in their deals, shouldn’t you know that the “Netflix Founder Predicts the End of the DVD Rental Business” and is now pouring millions into the digital movie download? In the meantime, newcomers to reality and cast partners can set some basic contract expectations by reading news like “Hedda Muskat has been named consulting producer on new WE show ‘Wife, Mom, Bounty Hunter’ to premiere on April 20. Hedda brought the show to World of I wonder who sold it to WE.” (© 2007 Cynopsis).
ACTION PLAN– Scan for deal discussions with professional colleagues or potential buyers. The Cynopsis example above lets you know right away what you might expect WE and/or World of Wonder to offer you as a creator of a new show.
BONUS ROUND: Oh, you know what I’m going to say: add this information to a database, and check it before introducing any partners!
Upgrade Tip #4: Improve Your Project Development Process
Looking for the “right” talent to attach to a project? You can test the temperature of the industry for the “hotness” of the stars by reading that “Kid, you don’t play, you can get a talk show.” Or get a great lesson in built-in conflict for reality casts when you read that “Run’s House Season 3 on MTV begins April 9 at 10 p.m. Reverend Run and the Simmons family return to face new situations.” of crisis and growth as the two eldest daughters, Angela and Vanessa, live alone in Manhattan”. (© 2007 Cynopsis). Whenever you read about greenlit projects in your industry, consider it a powerful development guide for your own projects.
ACTION PLAN: Scan the trades for talent and success stories and see what equally compelling “headlines” you could write to promote your own projects. Do you have more work to do to develop the project?
BONUS ROUND: Write down the headlines and send them to your focus group to see if they want to watch that show.
Trade Tip #5: Gather Inside Information
I call this “Hall of Wisdom.” These are articles that give you explanations of how our business works that help you get into the minds of the studio, network, and production execs you’re featuring. For example, the Hollywood Reporter recently published an article called “Ad Ratings to Earn Up Front,” explaining that advertisers increasingly want to base the ad dollars they commit to a network on the ratings of actual commercials that run during shows, rather than the ratings of the shows themselves. Is it a big change? Of course! Is it something you can intelligently talk about in the room when potential qualifications come into the discussion? Sure, if you’ve read the article.
ACTION PLAN: Read insider articles and make sure you can sum up the big idea in one simple sentence (like I just did above).
BONUS ROUND– Learn the new article buzzwords and research more about them. For my example article, I would search for “ad ratings” (also known as “business ratings”) and the new Nielsen metrics they represent.
Upgrade Tip #6: Scan for Who | what | Where
I’ll say it again: success is not just about knowing how to do it; it is about knowing-WHO. You absolutely must know who are the players who can buy your projects or help in their sale. All trades announce executive hiring, firing, and job changes. Many also have producers who have just sold new projects. You need to know these names so you know who you already know and who you need to meet, not just in the room, but also at the panels, seminars, and conferences you see advertised.
For example: do you have contacts in “The Amazing Race”? Guess what? Now you may have contacts on Oprah’s new wish fulfillment show: The exchanges have just announced “‘Race’ duo to oversee reality series Harpo.” But before you email everyone you know who works anywhere, read my article: “Getting Into Hollywood: Know Someone Who’s Hiring?” Please never let the first thing you say to someone, a stranger OR a friend, is “What can you do for me?” Make sure your energy in this industry is balanced between furthering your own dreams and sincerely investing in the dreams of your core circle at the same time. Those contacts are the ones that will be calling YOU to yell, “Hey, I just got Oprah’s new show, send me your rez!”
ACTION PLAN: Database of the names of studio executives, network executives, production executives, financiers and show brokers and keep it up to date through your daily business readings. Start with the network and production codes we provide in our online group and keep them up to date. Those names are the key to selling a project.
BONUS ROUND: Today, right now, send an e-mail to the five people who have helped you the most in your career. Offer something specific to help them, even if you’re updating one of THEIR databases. Restore the balance in your professional relationships and watch the immediate change in your career advancement.
BONUS, BONUS ROUND – Stop writing your latest email blast asking people who would otherwise never consult to find you a job. Now reread “Bonus Round” and try that approach. Please trust me on this. And remember, send thank you truffles or coffee cards to everyone who puts you in front of someone else for a meeting, whether you close a deal or not.
NOW COME SELL THOSE PASSION PROJECTS!