Time will tell

The contrast between the distinctly subdued hallways of mip-asia and the wild carnival-like atmosphere of the mip-tv and mipcom markets held twice-yearly in the south of France could not have been more profound.

From the moment the doors opened on a Thursday morning, Dec. 1, to the market’s final Saturday afternoon, sellers were openly questioning whether they would be making the long trip back to Hong Kong for a mip-asia ii

Mostly, the doubt came from the clear disappointment in the number of buyers evident on the convention floor. Some Canadians guessed there may have been 200 to 300 milling about, with only dozens of ‘serious buyers’ among those. (A press communique issued by mip-asia organizer Reed Midem on the final day of the market stated that ‘378 exhibiting companies representing 33 countries met 695 buyers from 17 Asian Pacific countries.’ The release concluded with the announcement that a second mip-asia will be held in Hong Kong from Nov. 29 to Dec. 2.)

But other questions arose as well.

Timing of the market was an issue to many, coming so close on the heels of the October mipcom, and a highly successfully one for Canadians. With so many Asian buyers appearing at both mipcom and the winter natpe in the u.s., it was natural to question the viability of another international market in between.

There was also the matter of simple economics when the comparatively low market price for television programming in Asian territories was compared to the cost of attending the market. Not only did the long journey to Hong Kong stretch many sellers’ budgets, but the living expense of meals and hotel rooms which could easily surpass $300 (Canadian) a day, in addition to the purchase of exhibit space, simply added more to the minus side of the equation.

About the only consensus that could be reached on the convention floor was grudging respect for the Reed Midem people for having convinced so many sellers, including big American and British names, to take a chance, in such an exotic and expensive locale, on this first-time market.

However, as is so often the case, the long-term viability of mip-asia as a significant international market will probably be decided by the majors. Several senior sales executives interviewed informally towards the end of the market said they could not say at that time whether they saw a long-term future for a mip-asia, but they seemed to be willing to at least give it a second chance.

The recurring theme that beat like a mantra throughout the market and accompanying conference sessions was ’emerging markets’ and ‘vast potential.’ And the justification for a mip-asia that tied into this rosy future was that it provided sellers an opportunity to build a presence and develop long-term relationships with Asians on their terms.

Whether this is a clever marketing ploy by Reed Midem or solid business thinking, only time will tell.