Patrick Mulhearn, CEO of Irrevocable Designee, LLC, and film finance consultant, joins Sam from Fable House for a conversation about the rise of vertical entertainment (micro-series/micro-dramas) and its massive implications for the film industry and content creators.
Key Discussion Points:
- The Rise of Verticals: They discuss how shrinking attention spans and busy audiences have created a need for short-form content, with “verticals” being the ultimate indie film.
- Lessons from Quibi: The conversation touches on Quibi’s failure, suggesting it was “ahead of its time,” launching when people had extra time for long-form content during the pandemic.
- The China Micro-Drama Boom: Patrick notes that in China, micro-dramas are an industry over $8 billion, surpassing their long-form film industry in value.
- Production and Cost-Effectiveness: Verticals can be more like the content creator style than Hollywood style, offering a lower barrier to entry and huge ROI potential. One example cited: a show that cost $100,000 to produce sold for $1 million.
- Original Content and Flexibility: The format allows filmmakers to test ideas immediately and be more creative. They explore how existing content, even feature scripts, can be divided into short episodes.
- Supernatural being successfully retooled from a feature into a series.
- Branding & Revenue: Verticals are seen as the “perfect vehicle for brands,” using product placement and “woven-in” branding for buzz and story points.
- Adaptation & the Future: They discuss how streamers may adapt (or resist) and how verticals could be an alternative to things like reality TV and soap operas, especially with the rise of self-driving cars creating new viewing time.
- Baton Rouge Film: The discussion includes how vertical entertainment could become the new home for “ultimate indie” film, bringing back the scrappier, more cost-effective production methods reminiscent of the “golden days” of indie film like when Steven Soderbergh made Sex, Lies, and Videotape and Schizopolis.
People, businesses, shows, and series mentioned on this podcast:
Patrick Mulhearn, Steven Soderbergh, Tommy Harper, Quibi, White Claw, HBO, WB, CW, Celtic Studios, Second City, Upright Citizens Brigage, YABOYNANCY, Supernatural, High Maintenance, Brooklyn Coffee Shop