In the beginning of the year, Bruce Tuchman, formerly President of Sundance Channel Global, AMC Global and MGM Networks, and New Zealand’s award-winning Rialto Channel Limited joined forces to launch Rialto International, a 50-50 joint venture to bring Rialto branded streaming, SVOD, AVOD and linear television services of premium indie content to countries and territories worldwide.
Following the footsteps of Rialto Channel, Rialto International’s linear and on-demand services specialize in carefully curated programming of distinguished independent films, documentaries and television series, all with compelling stories that engage, entertain and inform. Rialto is available across all platforms, including linear, streaming and on-demand services.
“If you think about it, independent films have never been more popular than now. ‘Nomadland’ is winning awards left and right, ‘Parasite’ recently won the Oscar, and ‘Moonlight’ did it too not too long before that. Independent films are really strong. At the same time, some of the studios are not even selling their content to third parties to put it on their own platforms. However, independent content is out there and it has never been more popular, so that is why I thought there was a big opportunity,” Tuchman told Señal News.
“The number of providers offering branded services featuring indie content are few and far between. There is a demand for it and also there is a supply, yet people are not getting what they want to see. That is the opportunity that we are stepping into, and it is a big one,” the Co-Chairman of Rialto International added.
A veteran with years of experience in the business, Tuchman analyzed the current landscape of the audiovisual industry. First of all, he described the OTT space as a “gold rush” where everyone is trying to be part of. “Consumers are only going to see more and more offerings. There are big OTT platforms, in what it is a ‘battle of the titans,’ but there are also some niche services as well. There are so many, which is great for the consumer. But it is a hard business to make money of it,” the executive assured.
Nevertheless, the former President of Sundance Channel Global sees an opportunity in finding really defined niche spaces. “If you are going to be all over the place, trying to offer all kinds of stuff, then you got to be prepared to spend the kind of money that Netflix is spending. Instead, if you want to focus on a niche, like we are doing, you cannot be lazy about it, or just acquire some things or another. You got to be really clear about what your proposition is, and make sure that your audience actually exists and wants to pay for content,” he said.
In a world where streaming has become the norm, Tuchman firmly believes that the consumer is now totally familiar with OTT content. “The huge offering and the convenience of watching anytime, anywhere and anyplace is pretty compelling. Consumers are loving it,” he noted. Furthermore, he considers Covid-19 has notoriously accelerated that trend, as people have more time and some consumers who were not so used to streaming were able to explore and get familiarized with it.
However, that said, he is convinced that the growth of streaming does not mean that linear television will disappear. Although he admits that in some countries, such as the United States, cord-cutting shows alarming numbers, he believes that no evidence is strong enough to prove that TV is going to die anytime soon. In fact, he pointed out that in many markets pay TV is not only not falling but is growing more and more.
“Linear television and OTT are going to coexist side by side. This is very similar to what happened when pay TV started and people said free TV would be wiped out. The same thing was said about radio when the TV came out. All forms of media, they just never go away, they just have to adapt to the circumstances. Their boom years may be over, but that does not mean that the game is over,” Tuchman observed.
Regarding the future of its new project, Rialto International, the executive admitted they are just at the beginning now, but their prospects are great and also the feedback they are getting. “I’m really optimistic and excited about it. Our main goal is being the leading brand out there for independent content driven by great independent films. We want to be that home on a multinational basis. There are channels in some territories targeting the same markets, and they are doing a fine job, but very few are doing it cross border, like we are. We see that opportunity,” he declared.
Lastly, Tuchman took a moment to send a positive message regarding the global health situation: “I think there is light at the end of the tunnel. We may not obviously come up at the same way we used to, but I’m very optimistic about Mipcom. Things are going to get back to normal. The TV business has done pretty well compared to other industries. There are explosive opportunities waiting once some restrictions lift”.
By Federico Marzullo