Fox Entertainment and its in-house studio Fox Alternative Entertainment recently established an unscripted format fund that will prioritize seeking new ideas and IP for global markets. “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,” said Charlie Collier, CEO of Fox Entertainment, in a statement.
The $100 million fund will invest in and develop unscripted concepts originating from outside the US. The news comes a day after BBC and NBCUniversal unveiled a similar effort to find and fund unscripted programming in the UK.
It is part of Fox Entertainment’s broader strategy to diversify its content portfolio and revenue streams, with the fund accepting concept pitches ranging from reality competition and variety series to dating and other genres for local networks and platforms. “Many of the most powerful series that have changed the face of television were unscripted formats that originated outside the United States,” added Wade.
Projects selected and greenlit through the fund, which is being overseen by Rob Wade, president of alternative entertainment and specials of Fox Entertainment, will be coproduced by FAE alongside each series’ partner. “With a deep well of undiscovered ideas across the globe waiting to be recognised, 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.”
Recent series emanating from FAE include new competition series The Big Deal, a coproduction with Ireland’s Virgin Media Television in partnership with Dublin-based BiggerStage; singing competition series Alter Ego, featuring Alanis Morissette, will.i.am, Nick Lachey, Grimes and Rocsi Diaz; cooking series “Next Level Chef;” “Crime Scene Kitching” and “Domino Masters.” The studio was formed in 2019 to oversee the production of Fox’s “The Masked Singer,” and now produced such titles as “I Can See Your Voice,” “The Masked Dance” and “Name That Tune,” among others.
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.” Charlie Collier CEO, Fox Entertainment