World Producers Summit in Cannes- summary, action points and photos
Over 100 representatives of production companies, from 26 countries attended- and at 9am in the morning- shows how important the WPS has become to production companies worldwide.
The fact we get together and share information demonstrates our pride in our business and determination that it will prosper- and in doing so benefit agencies and advertisers who rely upon the expertise of production companies.
This year the focus was on the Universal Production Principles document (attached), which we launched at last year's WPS.
The document is a tool for every producers association and production company, to show in negotiations with agencies and advertisers that there are universally recognised good practices- and why- to the benefit of the process and the end product- the commercial.
Several producers/producers associations present reported that they had used the Universal Principles to help agencies and advertisers in their market understand why they should, for example have a maximum of three bids, upfront payments of 50-75%, fixed bid or cost plus (but not an amalgam of the two).
However,there is still much work to do- producers associations and production companies who have not done so yet are encouraged to spread the word, to use the document in their own country,explain it to their clients and to translate it if necessary (and share the translated document with us). If we all shout about the Universal Principles, we have the best prospect of their becoming just that- universal principles.
We discussed key issues such as payment terms and in house production. For the first time some agency producers were invited so we could learn their perspective. Their view was that production companies would always be able to negotiate sensible payment terms and prosper despite in house production provided the talent that agencies and advertisers needed was available only through the production company.
We want to continue discussions in between summits and we have created a discussion forum; the CFPE Discussion Platform. It is a private forum so if you would like to participate- even just to read what others have said but hopefully to participate to a lively discussion, please click ‘join group’, your request will be approved ASAP.
You can see photos from the WPS HERE.