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Resurrecting the Soap Opera with Internet Distribution: Exclusive Interview with Jeff Kwatinetz

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Billboard on Sunset Boulevard in Los Angeles teases impending return of All My Children (photo credit: Lesleyann Coker)

Two years to the month after ABC cancelled the iconic soap operas, All My Children and One Life to Live, the shows are being resurrected by Prospect Park.

Prospect Park was co-founded in 2009 by Richard H. Frank, a former executive at Walt Disney Television, and Jeff Kwatinetz, former CEO of the talent agency, The Firm, Inc.

In this exclusive interview, Jeff Kwatinetz, now the CEO of Prospect Park, sheds new light on the company’s business model.  He discusses Prospect Park’s partnership with Hulu and Apple, and how the company will leverage Internet distribution to disintermediate traditional entertainment distribution stakeholders.

 

COMPANY BACKGROUND

Lesleyann Coker: Why soaps?  What do you view as your opportunity when soaps are suffering from declining viewership on broadcast television?

Jeff Kwatinetz, co-founder and CEO of Prospect Park. Photo credit: http://jeffkwatinetz.com

Jeff Kwatinetz: First of all, I love the soaps.  But they also presented us with an opportunity to take a property that has an extremely loyal, long-term fan base and resurrect it in a new format.  Taking One Life to Live and All My Children online was a chance for us to make these shows great.

LC: What is the financial backing of Prospect Park?

JK: Prospect Park is self-financed with additional funding from ABRY Partners, a private equity group.

LC:  How much funding has the company received to date, and who was the lead investor?

JK: We are not commenting on the investment amount.

 

DISTRIBUTION

LC: Why did you choose to distribute online as opposed to distributing through cable or satellite networks?

JK: We chose online because we believe that it’s the best means of distribution in terms of convenience, cost and accessibility. Just like the best distribution now for music is the Internet, we believe it’s also best for television content.

LC: How do the distribution costs of online distribution compare to the costs of traditional?

JK: There’s a great advantage to online distribution. For starters, we don’t have to deal with region by region markets for distribution. We also eliminate carriage and distribution fees by going online. Our programs will still reach an extremely large audience, who don’t need to have a DVR to access our programs. Fans can access the content whenever, wherever.

LC: Do you view Internet distribution as the future of television, or as a complement to traditional distribution?

JK:  I don’t know if I’m the right person to say that the Internet is the future of television, but I do know that online distribution will definitely be a huge part of the future of TV, however it plays out. I know that this is a great opportunity for Prospect Park and a chance for fans to reconnect with One Life to Live and All My Children.

LC: Why did you choose to partner with Hulu and iTunes?


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