Employing an outdated model reduces viewers and revenue, causing media and streaming companies to be undervalued by billions.
LAS VEGAS, NEVADA, USA, November 6, 2023 /EINPresswire.com/ — TV executives met with for feedback agreed that Las Vegas-based ModernModel TV (MMTV) identified and corrected the serious flaws in how TV series are developed, pitched and promoted. The result is a model that MMTV, once teaming with a media or streaming company, and other producers can use to develop as many as a dozen successful series a year, as opposed to hoping those inside and outside TV given huge development deals will result in one. And, with a slight adaption, the model applies to motion pictures.
People have millions of options today. Perpetuating a 70-year-old TV series development-pitch-promotion model last relevant when three networks ruled TV, according to MMTV’s Ken Convoy, explains why the billions that media and streaming companies spend every year on programming dramatically underperform, while the up-to-$2 billion spent on promotion is so ineffective it’s the main reason series fail – it sabotages them by minimizing viewers, word of mouth and, ultimately, revenue. This has a negative financial impact on network affiliates and production companies relying on those companies for content or its delivery.
“Upgrading how TV series are developed and promoted led to proving during the pitch how series developed under our model will outperform all others being considered,” Convoy said. “We replace the key decision-making variable – guessing, since most creators have a terrible or no track record and the industry’s research misses the mark – with presenting promotion that research proves will generate very high ratings or streaming viewers. Then we explain how maintaining viewer loyalty is built into each episode. No one in TV can do that, and it might be our most valuable competitive advantage.”
While every executive MMTV met with agreed with its model’s superiority, real world confirmation came a few years ago from the only decision maker they met with, an NBC SVP Development. He wanted to buy two series, writing in one of many emails that “I want to do business with you,” and in another, “I am a believer (in your model).” That’s due to MMTV having the only realistic, impossible-to-copy response to the industry’s key question: How do you create a successful TV series? However, he was terminated before the deal could be finalized.
The SVP agreed that TV’s underlying problem is not following a principle from Business 101 – when the competitive environment intensifies, like TV’s exploding from ABC, CBS and NBC decades ago to millions of options today, adjustments in product development and marketing must be made.
“Unlike the TV industry, we made the necessary adjustments,” said Convoy. “It’s why, on our own or with a production company, VC or ad agency, one executive told me media and streaming companies should ‘be lining up at your door’ to offer a substantial model-licensing fee and development deal; another said, ‘You should be running a network.”
Proving MMTV’s claims is easy enough. However, even with the industry losing half a trillion dollars in market value in 2022 and Wall Street expecting better results, the company’s challenge is getting media and streaming company executives to sacrifice their egos and admit there are better ways to develop, pitch and promote their products, which will ultimately benefit their stockholders.
“As for our ‘secret sauce,’ we found it in Nielsen research,” said Convoy. “Many series have a rating spike. It’s when a small demographic group, averaging 5% of households, some under 1%, connects with an element in the show resulting in ratings three to 10 times greater than from the much larger non-spiked group. But it’s unplanned, accidental, and the impact from the spike on the total rating is minimal.”
“Validated by the rating spike and a ‘secret sauce,” we create powerful emotional connections to the show – not to 5% of households, but to 70% of them, or 70% of people for streaming – and emotion trumps demographics,” he added. “Proving during the pitch how our more-effective promotion maximizes the number of people attracted from the now huge spiked group, and some from the non-spiked group, and how viewer loyalty is maintained, is why buyers will be confident the many series created under our model will be among the most successful broadcast, cable or streaming shows.”
ModernModel TV’s website, www.modernmodeltv.com, proves why it’s the future of TV by identifying and correcting the real flaws in the outdated TV series development-pitch-promotion model. It also contains research results and the NBC SVP Development’s emails.