Relativity Media founder and CEO Ryan Kavanaugh strode onto the main stage here at Mipcom today, providing a run-down of his business model versus the Hollywood studios’ “blockbuster or bust” mentality, declaring that Relativity’s just-announced Limitless TV series “could be one of the biggest shows that’s ever been”, and announcing his intention to build a digital TV Everywhere-style platform within the next 12 months.
Kavanaugh was in Cannes in support of Limitless and Act Of Valor, two new series based on the studio’s own films. Bradley Cooper is executive producing Limitless, which is part of Relativity’s expansion into scripted television. Kavanaugh said some very big stars were interested, adding “Who knows? (Cooper) may be in the first episode.” Relativity also just received a greenlight at National Geographic Channel for its first scripted series, drama Act Of Valor. The company’s unscripted portfolio already has 17 series currently on air including MTV hit Catfish, an offshoot from its documentary feature.
Kavanaugh explained he had an “epiphany” about turning Relativity movies into TV shows after Catfish. Although the film was profitable, it was an underperformer by traditional measures. Yet, young people kept telling him how much they enjoyed it. “Based on what I was hearing, I went back to all of our underperformers” to look at their sell-thru, on demand and DVD numbers as well as the marketing and he realized that if a percentage of the films’ audience could be converted to TV, it would be a win. The same theory could be applied to films that had broader box office appeal, à la Limitless, he said. With 20 million-plus viewers already invested in the movie, “it was the biggest pilot of all time. No TV show has ever had this.” (more…)