‘Business of Television’ Author Updates Book to Reflect a Very Different Hollywood Era

In the six years since writing the definitive book on dealmaking in the TV industry, Ken Basin has had to rethink plenty before updating his masterwork for a second edition.

Taapsee Pannu and Kanika Dhillon to Redefine Motherhood and Action in Netflix's 'Gandhari': 'The Stakes Are Getting Higher' (EXCLUSIVE)

“One thing that I think I underestimated when I sort of wrote my very optimistic end to the first edition, where I expressed my belief in the power of innovation and dealmaking to kind of set a course for the industry, was how many incentives there were against that kind of innovation,” he said on the latest episode of the Variety podcast “Strictly Business.”

Listen to the podcast here:

This veteran of business affairs at some of the leading content companies discusses how disruption in Hollywood has changed his strategic outlook, but also outlines his prescription for getting showbiz back on track.

Basin, author of “The Business of Television,” discusses the evolution of the industry since the book’s first edition in 2018, highlighting the shift from traditional deficit models to cost-plus licensing deals.

Netflix Top 10: 'The Perfect Couple' Debuts at No. 1 With 20.3 Million Views

He also discusses the industry’s current grim state, with layoffs and reduced production volumes, and suggests that the industry may bounce back by embracing TV’s core strengths and adapting to new economic incentives.

“One of the challenges of the second edition was how to write something that I thought was going to be true, and reflected my real kind of point of view on where the industry is and where it’s going, and not be hopelessly depressing,” he joked, “and have to kind of sell a prescription for antidepressants with every copy.”

He also delves into the impact of streaming services on the industry, including the decline of cable and the rise of international production. He expected more diversification in licensing models, but instead, the industry saw a collapse of business models and a shift towards cost plus deals.

Ken believes the industry will bounce back in the long run but expects 2025 to be similar to 2024. He discusses the ongoing anticipation of M&A as a solution to the industry’s challenges, with speculation around potential mergers.

“Strictly Business” is Variety ’s weekly podcast featuring conversations with industry leaders about the business of media and entertainment. A new episode debuts each Wednesday and can be downloaded on iTunes, Spotify, Stitcher and SoundCloud.

Jon Bernthal, Pablo Schreiber Join Tessa Thompson in 'His & Hers' Limited Series at Netflix