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Sony's Holzman: End Over-Reliance on Recommissions for New Ideas

Dec 4, 2024 at 3:08 PM

The unscripted market has witnessed a tumultuous few years, but it seems to be gradually finding its footing. Eli Holzman, the boss of Sony Pictures Television Nonfiction, emphasizes the urgent need to put an end to the excessive reliance on recommissions. As he stated at Content London in the UK, "We as an industry neglect new ideas at our peril." Every big hit we cherish today was once a risky proposition for someone. It required a leap of faith and a willingness to take chances.

Unleashing the Potential of New Ideas in Unscripted Television

Impact on Sony's Unscripted Business Model

Holzman shed light on how SPT's biggest hits like Shark Tank and 90 Day Fiancé are being renewed at a steady pace. However, the same enthusiasm is not evident for new shows. By taking an example of when SPT was a "100-series" business (now slightly less), he illustrated the current trend. If we look at those 100 series, 50 were season ones, and we didn't anticipate most of them to return. In non-fiction, season one is often profitable, and this churn serves as a crucial source of profit. Holzman expects these season ones to be replaced, accounting for 50% of the business in terms of volume. But only a small subset gets renewed, and an even smaller subset becomes a hit. This ratio has declined over time.

He further emphasized that the business is driven by the next big idea. Currently, the split between recommissions and new ideas has shifted from a 50-50 balance to 70-30 in favor of returners. Holzman firmly believes that it is essential to get back to a 50-50 split. This shift not only affects the growth potential of the industry but also the creativity and innovation that drive it forward.

Holzman's Journey and SPT's Slate

Holzman's ascent to the presidency of SPT's Unscripted arm is a remarkable story. After Sony acquired his business, Industrial Media, for $350M in 2022, he brought his expertise and vision to the table. SPT's slate is a diverse mix of popular shows, including American Idol, 90 Day Fiancé, Indian Matchmaking, Selena+Chef, So You Think You Can Dance, Wheel of Fortune, and Jeopardy!. These shows showcase the wide range of content that SPT produces and the potential for new hits to emerge.

With his leadership, Holzman aims to strike a balance between recommissions and new ideas. By doing so, he hopes to ensure the continued success and growth of SPT's unscripted business. His focus on nurturing new ideas while maintaining the popularity of existing shows is a key strategy for the future.