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The Town with Matthew Belloni
'Severance’: When a Hit Show Goes Over Budget, Who Pays?
Feb 20, 2025
Chris Rice, cofounder and co-CEO of Fifth Season and producer of Apple+’s ‘Severance,’ dives into the financial labyrinth of television production. He explains what happens when a show exceeds its budget and who bears the costs, revealing the impact of industry strikes and ambitious creative choices. Chris also contrasts independent studios with larger networks, discussing financing models and the dynamics of global distribution rights. He further highlights the unique 'cost plus' model used in ‘Severance,’ illustrating the delicate balance between creativity and budget management.
35:15
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Quick takeaways
- Understanding budget overages in television production showcases the financial complexities arising from creative decisions and external events like industry strikes.
- Independent studios like Fifth Season enhance creative freedom in TV production while navigating co-production and licensing agreements with major networks and streamers.
Deep dives
Understanding Budget Overages in Television Production
Budget overages in television production can occur due to various factors, including external events and creative decisions. For example, the Apple TV show Severance experienced significant overages because of lengthy shutdowns during the 2023 strikes and the COVID-19 pandemic, along with creative choices that led to abandoned sets. Such overages usually impact the network or studio financing the show, depending on the nature of the expenses—whether they are due to mismanagement or unavoidable external events. Understanding these dynamics helps clarify the financial responsibilities in the production process.
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Discover
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