Fox is ramping up its international formats credentials with a new $100M fund to find the next wave of unscripted formats for the global market.
The network and its unscripted production arm Fox Alternative Entertainment will use the cash injection to identify IP for international networks and platforms.
It comes after FAE road-tested its first creation for the international market in Ireland – The Big Deal. The company co-produced the variety competition series, which featured Boy George as a judge, for Ireland’s Virgin Media Television and it launched strongly, on par with series such as The X Factor.
Rob Wade, President of Alternative Entertainment and Specials of Fox Entertainment, who will oversee the fund, told Deadline that The Masked Singer producer FAE can fund and subsequently own the format for the same amount that it could produce a pilot, giving it greater data and learnings than if it can produced a non-TX tape.
It is now stepping up this strategy with the format fund, which will invest in and developed internationally-originated projects from reality competitions, variety series, dating formats and other non-scripted areas. FAE will co-produce the series selected.
“Fox has long been a global leader in alternative programming. This enviable track record of more than three decades of success brings with it great expectations to remain as the world’s preeminent platform in the genre,” said Charlie Collier, CEO, Fox Entertainment. “This fund presents us with the opportunity to continue identifying and curating formats that fulfil several key objectives: diversify our slate of owned content, expand Fox’s interests globally and better serve our platform partners.”
“Many of the most powerful series that have changed the face of television were unscripted formats that originated outside the United States,” added Wade. “With a deep well of undiscovered ideas across the globe waiting to be recognized, FAE stands ready to deploy this format fund to partner with local creators and networks to develop cost-effective and innovative, broad-based programming that, in success, will also benefit Fox here at home.”
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