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The sharp devaluation of the Turkish lira on foreign currency markets amid tensions between populist Presidents Donald Trump and Recep Tayyip Erdogan is prompting Turkey’s TV industry to increasingly turn toward the global marketplace, where it is second only to the U.S. in terms of scripted content exports.
Exports are clearly becoming more important as producers in some cases get almost twice as much money from international, just as local linear broadcasters are cutting their budgets due to a drop in advertising intake.
Inflation - Country - Turkish - Lira - %
Inflation is high in the country, and the Turkish lira has lost roughly 40% of its value against the U.S. dollar 40% year over year.
“The economic downturn is prompting a push toward partnerships and co-productions, but also toward making Turkish stories more international by making more shows that can play on global streaming giants,” says Ates Ince, managing director of new sales company Madd, a partnership between two of Turkey’s leading producers, Medyapim (“Mother”) and Ay Yapim (“Fatmagul”).
Indication - Players - Strategies - Shows - Business
This is a clear indication that local players are rethinking their strategies not just to distribute their shows but “to get closer to our global business partners,” he says.
At Mipcom, Madd will discuss “new opportunities with some of the big players.”
Ince - Top - Exec - Dogus - Media
Ince is a former top exec at Dogus Media Group, where he headed the digital division that launched local streamer PuhuTV and its hit series “Phi.”
Meanwhile, in Turkey’s free TV world, which still accounts for the bulk of the country’s drama viewers and of Turkish product seen worldwide, broadcasters are unsurprisingly “cutting their budgets because advertising revenues are going down,” says Inter Medya COO Ahmet Ziyalar. He notes that producers, in turn, are cutting their budgets, which “will affect the quality of product.”
Producers - Money - Sales - Broadcasters
However, some Turkish producers are now willing to risk losing some money in their sales to local broadcasters and, instead...
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