Perlena Igbokve, president of Universal Studios Group, says the “arms race” to hire creative talent for exclusive deals is “running out” as the screenwriting market becomes financially regulated.
Igbokwe, whose studio is home to Universal International Studios, Universal Cable Productions (UCP), Universal Television and Universal Television Alternative Studios, said that over the past fifty years the “golden handcuff” deals on the biggest tickets would become less common and less creative. Ask for higher dollars for your services in the future.
“I don’t know if the arms race we’ve been in for the past five years is still valid,” he told reporters yesterday at an unprecedented London lunch. “I don’t think the agents were very happy. There will still be people who have a lot of money, but they are proven individuals who have experience. “
He predicted that the days of agents asking for footage and delivering prices were numbered as streamers and studios sought to pay off their investments. In some cases, expensive talent contracts barely generate content, which Igbokwe’s colleague Beatrice Springburn, president of UIS and UK-based UCP, called “overdevelopment and under-selling”.
“At one point, everyone seemed to think they were ‘here’, but I think you will see that things will normalize,” added Igbokve.
USG, owned by NBCUniversal, has talented relationships with such mr robot Developed by Sam Esmail, UIS owns several production companies including Carnival Films UK and David Heyman’s Heyday Television. He recently made his first deal Call my agent! writer and knox Developer Quoc Dang Tran, Deadline revealed last month, and a similar deal with Spain’s Buendía Estudios.
Igbokve, Stringbourne and UIS CEO David O’Donoghue discussed UIS’s flexible negotiation approach and said they intend to conclude more deals and buy the company.
“It’s about the manufacturer’s wishes,” O’Donoghue said. “What do they want? Capital or first deal? What’s the deal that works for them? We’re trying to figure out what’s right for us and what’s right for them.”
UIS was rebranded by NBCUniversal International Studios in November 2021 to bring it closer to its sister studios under the “Universal” brand.
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Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
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