Distribution – Germany
Country Focus: Germany
Senator refocuses its strategy
by Birgit Heidsiek
- The firm will invest more in production, start a talent academy and come up with cash prizes for the best concepts, while a bond of up to €10 million is to provide cash flow
Berlin-based Senator Entertainment AG is facing a complete strategic reorientation. Due to declining sales revenues in 2013, which fell from €51.2 million during the year of The Intouchables [+see also:
film profile] to €27.1 million last year, the board has developed a comprehensive renewal plan. The financial measures include a bond of up to €10 million in order to generate the bridge financing. In addition, the equity will be raised by about €16 million. “We are delighted that we are receiving strong support from our investors in this difficult period,” stated Helge Sasse, chairman of Senator.
The new strategy will be implemented step by step during the ongoing financial year. A key issue is to strengthen the company by increasing investment in productions and co-productions so that Senator will depend less on the competitive licensing market. In future, acquisitions are to follow economic and artistic selection criteria that reflect current market conditions.
Another focus is on a programme that supports up-and-coming talents. Since 2013, Senator has been a partner of the First Steps Award for newcomers and established a masterclass for distributors this spring. These initiatives will be rounded off by a new academy for newcomers in Berlin that fosters young talents. Their creative concepts and stories will form the basis for attractive productions that strengthen the company. In addition, Senator is planning collaborations and strategic acquisitions that will enable it to progress from national to international distribution, with a view to becoming a market player on a European level. With innovative marketing measures and social-media campaigns, Senator will also generate revenues through the exploitation of content on new digital distribution platforms.
“Berlin is the perfect place for young writers, directors and actors to develop their creative potential,” added Sasse. “We will also be actively scouting for up-and-coming talents on a European level and will come up with cash prizes for the best concepts.”
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