18 We often hear how difficult the TV business has become, mainly due to the advent of streaming. Apparently, these difficulties simply did not exist when home video made its debut and cable/satellite television came to be. But the complaints are mostly vented by the supply side of the business — meaning producers and distributors. Rarely are any grumbles about this heard from the demand side. So, this time around, VideoAge called upon content buyers from France, Canada, and U.S./Latin America to ask about their experiences and expectations. Those interviewed include Manuel Alduy, head of Cinema and International Drama at France Télévisions; Jorge Balleste, strategic advisor/content buyer at Rustic Media; and Sarah Weaver, director of Content, Bell Media. This MIP Cancun report is a reprint from the original version published at MIPCOM in Cannes. VideoAge: How has buying changed over the last few years? Jorge Balleste: A few years back, deals were built around license fees and exclusivity — that was the currency of the business. Today, revenue share has become the dominant model, largely because the streaming platforms have proven they can actually monetize content well across the territory. Manuel Alduy: Drama and film acquisitions have become more opportunistic. First, the streamers dramatically increased their original productions. Second, broadcasters’ needs have been reduced because of the economic crisis. Hence, we’ve seen less acquisitions than expected. There’s been a shift in the balance of power between buyers and distributors. Buyers have more choice than ever. Sarah Weaver: We could be reconsidering discrete business terms like windowing and exclusivity, but also thinking about how you work differently with distributors you know. There are no cookie-cutter deals. VideoAge: What would you ask a sales exec today that you wouldn’t have asked in the past? Balleste: These days I’m raising business points that simply weren’t part of the conversation before — non-exclusive rights, unlimited runs, AVoD, and FAST rights. I’m looking for every possible way to monetize the content, not just the obvious one. Exclusivity used to be such a central piece of any negotiation. Now, unless we’re talking about brand-new content or a high-profile Hollywood title for SVoD, paying for that exclusivity just doesn’t make sense — there isn’t enough equity in it to justify the cost. Alduy: Sales executives should more clearly position their slate in two categories: Content that will stand out and generate conversation on social media thanks to the originality of the plot; and content that is easy-watching, and will foster audience loyalty thanks to trusted talents, well-crafted stories, and reassuring plots. Dramas that are “in-between” may well be discarded by buyers. Weaver: We are asking about where the content lives outside of our territory and how it is being marketed and supported by the distributor or other global partners. VideoAge: Content distributors complain that sales are now more difficult — is it the same for buyers? Balleste: Not really, from where I sit. We’re leaning heavily into revenue share for the bulk of our library content distribution now. FreeTV and pay-TV keep declining, and those buyers simply don’t have the budgets they used to. Meanwhile, the streamers have shown they can monetize content effectively, which is exactly why revenue share has become the leading model today. Alduy: Buyers have less money. They are more selective. Viewers are “flooded” by huge content offerings and multiple announcements and drama launches. Weaver: I don’t think it has become more difficult, but it requires the ability to be nimble, adaptable, and not rest on your laurels. You have to approach each opportunity with efficiency and always be aware of what the business needs now — not necessarily what worked before. VideoAge: In your view, what do some content distributors do wrong? Balleste: Part of the issue is the distributors often hold on for a big SVoD deal with the key players, but these platforms have budgets assigned [and] there is only so much content they can buy in a given year, so pinning their strategy on landing one of those deals is a bet that most distributors won’t win. If they place the content across several strong streaming platforms under revenue share, that can easily outperform a single license deal in the long run. Alduy: Some of them don’t adjust their licensing models quickly enough. TV distribution models evolved permanently. As linear viewing is shrinking, non-linear viewing is exploding at a faster pace. Broadcasters and streamers are converging on how they distribute content to viewers. For example, catchup rights are almost history now. We license AVoD/FVoD rights with some linear rights. All our series’ episodes are published on our platform prior to the linear exhibition, if any. Another market trend is that FTA broadcasters are getting distributed by streamers (TF1/Netflix; France Télévisions/ Prime Video). Weaver: When distributors pitch content where they can’t match the quality or rights we deliver to our audiences, it isn’t an effective discussion. [But] many of our distributor partners approach the pitch and the deal as a winwin. They have done their homework and know what content is working for our platforms, are familiar where there are opportunities. VideoAge: Do you find more content out there for your needs, or less? Balleste: A growing number of distributors are open to wide distribution under revenue share, and that’s opened up catalogs that used to be much harder to access. One distinction worth noting: CPMs in the U.S. market run significantly higher than in Latin America. If a content owner holds rights across both territories, the combined revenue is quite strong. Alduy: We have no difficulties in finding what we need. We also don’t license content when the necessary rights are partially missing, even if the content is great. Weaver: Generally, there is a huge supply of content available and more content than ever to review. We do our best as a team to consider everything that is submitted with some alignment to our brands. There are some genres that are harder to find, but that always ebbs and flows. For example, outside major IP adaptations (film or series), there are fewer sci-fi and genre television series to consider. There’s no shortage of true crime, documentaries, factual series, but not as many scripted procedurals (in our two official languages: French and English). Buyers’ View: New Reality Brings Some Frustration Manuel Alduy, head of Cinema and International Drama at France Télévisions Jorge Balleste, strategic advisor/content buyer at Rustic Media VIDEOAGE November 2026 New Acquisition Models
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