CANNES: The media and entertainment industry is going through some gut wrenching churn what with mergers and acquisitions, shut-downs, lay-offs, reduced programming budgets all hitting it at one go. This despite, RX France’s Mipcom 2024  attracted some 10,500 delegates from 110 countries to Cannes this week – a drop of just five per cent as compared to last year’s 11,000. 

According to Mipcom and MipLondon director Lucy Smith, the decrease is due to managements trimming the number of employees who could fly to the French Riviera  in a bid to conserve expenses. The trade show had a mouth-watering 347 exhibitors - up from 320 last year - including 34 country pavilions, 10 of which were new. 3,240-strong buyers also made their way to the four day confab. Amongst the major buyers were US programmers, followed by UK, France, Germany and Spain.

Mipcom 2024 marked the fortieth  year anniversary of what is talked about as the world’s biggest content distribution and production and co-production event.

“Mipcom Cannes in its fortieth edition is as relevant today as it was when the first edition was introduced,” Smith said. “It’s one that feels particularly important this year, not just because it is an anniversary, but also because for months the single phrase that people have been sharing with me regardless really of region or genre is, we really need this one.”

“Yes, the industry is challenged on many fronts,” she added. “There are the economic challenges which are real  and they are not going to go away in a hurry. Audiences consumption patterns are not going to go back to what they were earlier, they will evolve. However, the industry is resilient, it regenerates. There are 72 companies taking stands for the first time. Sales and distribution will always be the core of the market. We continue to enjoy their renaissance. Content makers are keen to monetize and find new revenue streams, and there is a new open-mindedness when it comes to windowing. Flexibility feels like a new market buzzword. It’s all about finding new ways of working and new opportunities. It’s about adapting, and it’s what we’ve been hearing again and again from around all the stages this week.”

Smith pointed out that Mipcom itself is evolving. The sign of that is the creation of the  MIP Innovation Lab in P-1, the basement of the Palais which is a big investment for RX France. “Tech is increasingly evolving and very fast which is shaping the future of the television and streaming industry,” she said. “Hence, it was important to shine a spotlight on it and place the innovation Lab in the heart of the market. More than 60 companies got together for roundtables across summits ranging from fast television to AI, streaming and connected TVs. Exhibitors responded heartily in this zone and we are convinced this area will only grow.”
The other highlight was the focus on Spain, which was the country of honour, a move that saw 172 companies coming on board. The opening party which it sponsored,  was a big hit with more 3,500  registrants attending it. 

What could have done better was MipJunior which clocked up 1,000 visitors from 62 countries.

However, on the whole, the 10,500 sign ups for Mipcom are a clear indicator that the industry wants at least one global market, and in Cannes annually, said Smith. “Countries like India are increasingly realising  the importance of Mipcom and we had one of the largest Indian turnouts. This can only grow from here.”
Mipcom 2025 is to be held from 13-16  October with MipJunior being held two days earlier..