More news and details have emerged late this afternoon from the Wall Street Journal on the licensing deal struck between ABC and Prospect Park which will bring the canceled soaps All My Children and One Life to Live continued life but on an online platform! The article brings to light the length of the exclusive rights, and some preliminary starting points on how Prospect Park is going to deal with getting the cast of actors to sign on, budgets for the production, and how the shows may be available to the consumer and soap fans. Read below!
According to the WSJ: “The deal gives Prospect Park exclusive rights to the two shows for more than a decade, and pays Disney millions of dollars a year in royalties for as long as the shows are produced, according to people familiar with the terms.
Prospect Park’s move to buy the shows is a gamble on the growing–but still relatively small–world of producing original, scripted content online. Earlier this year, Netflix Inc. struck a lucrative deal to buy exclusive rights to a new TV series starring Kevin Spacey. Other companies including Yahoo Inc. and AOL Inc. are also ramping up their efforts to make original web shows.
Prospect Park says that it aims to keep producing the shows, which currently air hour-long episodes five days a week, at the same “format and length,” although a person familiar with the deal said the production budget would be somewhat lower after subtracting ABC’s royalties. Prospect Park is just beginning the process of meeting with actors and others involved with the soaps to work out whether they will stay on board, the person added.
Producers could sell the shows as an online subscription to consumers, the person familiar with the plans said. They are also exploring advertising sales and sponsorships or product-placement deals, the person added.”
So after reviewing some of these details, are you optimistic about life in Llanview and Pine Valley? Or, are you feeling a bit hesitant? Let us know!