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Speaker 1: Welcome to Strictly Business, Varieties weekly podcast featuring conversations with

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Speaker 1: industry leaders about the business of media and entertainment. I'm

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Speaker 1: Cynthia Littleton, co editor in chief of Variety Today. My

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Speaker 1: guest is Jane Rosenthal, founder and CEO of Tribeca Enterprises.

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Speaker 1: Rosenthal and Tribeca have an interesting perch in the entertainment industry,

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Speaker 1: with activity and live events, movie and TV production, as

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Speaker 1: well as a growing gaming division. Rosenthal, in our conversation

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Speaker 1: explains how the Tribeca team has moved mountains and then

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Speaker 1: some in New York City to stage the twentieth Anniversary

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Speaker 1: Festival with live audiences just as pandemic shutdowns are easing.

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Speaker 1: The industry. Veteran also gives her observations on the spate

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Speaker 1: of media, M and A and the fate of movie

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Speaker 1: going after a year of epic disruptions, and she discuss

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Speaker 1: this is the shakeup closer to home with the ship

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Speaker 1: that Tribeca made in moving from James Dolan and MSG

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Speaker 1: to James Murdoch and his LUPA Systems as TriBeCa's primary investor.

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Speaker 1: It's all coming up on Strictly Business after this break.

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Speaker 1: Welcome back to strictly business. Jane Rosenthal, co founder and

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Speaker 1: CEO of Tribeca Enterprises, thank you so much for joining

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Speaker 1: me today. Thank you simply. It's great. Do you UM

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Speaker 1: and hear you UM. Look forward to talking um. Jane,

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Speaker 1: you have been at the at the head of Tribeca

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Speaker 1: Enterprises for many years. You've been partners with Robert de

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Speaker 1: Niro in film production, in the Tribeca Festival, which is

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Speaker 1: going on on twenty years now, in other ventures. How

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Speaker 1: do you feel about the media landscape at this moment

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Speaker 1: with so much M and A. Big companies are getting

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Speaker 1: bigger studios of studios are being sold. Is this is

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Speaker 1: this a tough time to be an independent in the

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Speaker 1: content business. It's been a very exciting time because there's

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Speaker 1: so many different opportunities in different places to to sell

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Speaker 1: products and to have your I P bought. And it's

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Speaker 1: also exciting because you're no longer just selling to UM.

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Speaker 1: You know a handful of networks that are saying they

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Speaker 1: only want a you know, a a legal drama or

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Speaker 1: a police drama, and it's got to be broken down

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Speaker 1: into X y Z. So as a as a creative producer,

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Speaker 1: it's just it's a very exciting time because you can

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Speaker 1: do I can do a docu, a docuse series like

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Speaker 1: we just did with This Is a Robbery for Netflix.

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Speaker 1: You can do something like The Irishman that took us

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Speaker 1: twelve years to get made, and between technology catching up

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Speaker 1: and uh, Netflix which really took a shot on it, UM,

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Speaker 1: we could get that made. I could make something like

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Speaker 1: UM When They See Us, which originally we had started

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Speaker 1: that as a UH as a movie, and we realized

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Speaker 1: that it really the story held more. The story was

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Speaker 1: a larger story, so then it became a four parter

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Speaker 1: on Netflix. So it's just it lets you tell the

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Speaker 1: kind of story that you need to tell in the

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Speaker 1: time that you need to tell. So I kind of

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Speaker 1: think it's I think it's a very it's a very

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Speaker 1: exciting time and UH really looking forward to to see

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Speaker 1: what David Zaslow's going to be able to do and

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Speaker 1: to see what uh you know, I haven't read all

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Speaker 1: the news on the Amazon MGM deal, but looking forward

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Speaker 1: to seeing how that's going to shake out, uh and

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Speaker 1: be better for the business. I think all this activity

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Speaker 1: is ultimately good for the business. Look what also happens

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Speaker 1: is it getst then they break it up. And then

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Speaker 1: I mean we've seen we've seen this cycle go round

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Speaker 1: and you know, round and round over the years. UM.

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Speaker 1: But I think any change, I think I think changes.

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Speaker 1: I think change is good and it's exciting and you know,

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Speaker 1: especially when you admire the people that are UM part

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Speaker 1: of that change. So I think it's I think it's exciting.

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Speaker 1: Rebeca Enterprises has had a share of change in the

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Speaker 1: last couple of years. In nineteen, you did a transaction

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Speaker 1: with Loopa Systems, the investment company run by James Murdoch,

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Speaker 1: and brought in some other partners. Can you talk about

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Speaker 1: what motivated that deal and what you have you know,

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Speaker 1: what you've been able to do now that you have

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Speaker 1: brought in those investments partners. So are UM Our previous

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Speaker 1: investor was MSG, James Dolan, who still is a wonderful

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Speaker 1: a wonderful partner the way that UM, you know, we

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Speaker 1: just helped We just opened Radio City or closing nights

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Speaker 1: going to be there, Jim, you know, we we continue

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Speaker 1: to do stuff with MSG the way, UM, you know,

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Speaker 1: for us to fit into for Tribeca to fit into

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Speaker 1: MSG didn't quite work, uh, the way the way we

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Speaker 1: both wanted it and James you know, we started talking

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Speaker 1: to James and uh it really He's been an extraordinary partner.

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Speaker 1: His uh, whole group at Lucas Systems has been terrific.

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Speaker 1: It's allowing us to build different verticals of our company

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Speaker 1: that we wanted to do for a long time. So

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Speaker 1: I've been trying to really push gaming UM for most

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Speaker 1: ten years. So we were the first fest of all

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Speaker 1: uh ten years ago to ever screen a game. We

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Speaker 1: screened l a Walk Rockstar Games, which is in New York.

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Speaker 1: We brought Legal Legends to Madison Square Garden six years

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Speaker 1: ago already. UM that was the first time a big

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Speaker 1: e sport event was in New York. There had been

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Speaker 1: smaller events with UM, with Street Fighter and you know,

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Speaker 1: but not nothing as large as League of Legends. UM.

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Speaker 1: So I've always interested in how uh technology and storytelling

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Speaker 1: come together, and also how you can you know, different audiences,

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Speaker 1: Your audiences have different choices. UH. So with James, I'm

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Speaker 1: able to push into do more in in gaming. That's

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Speaker 1: you know, that's one vertical where also UM looking at

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Speaker 1: how will grow our Tribeca Studios, which is separateded content business.

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Speaker 1: We're looking at other ways to keep growing our business.

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Speaker 1: Beyond just the beyond just the festival. Uh. You know,

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Speaker 1: you can put on a festival in the middle of

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Speaker 1: New York City for ten days. UM. You know, previously

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Speaker 1: there was a lot more activity going on in the

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Speaker 1: city and I look forward to that more activity happening

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Speaker 1: as uh we come out of this uh COVID duh

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Speaker 1: COVID isolation which is happening. Um, but you have to

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Speaker 1: be sustainable beyond those ten days. So it is uh.

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Speaker 1: So it's you know, it's exciting to have a partner

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Speaker 1: who wants to work with you and and really grow it.

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Speaker 1: So we'll have more announcements where you Cynthia, You've got

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Speaker 1: right in the middle here, but we'll have some other

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Speaker 1: announcements for you that UM, I'll come back to you.

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Speaker 1: You mentioned that the movie going experience, which has been

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Speaker 1: you know, just obviously you know, under under extraordinary pressure

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Speaker 1: in the last year, and now that people are coming

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Speaker 1: out up now that again people sort of coming out

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Speaker 1: of our hibernation. Do you have a feeling, even just

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Speaker 1: from preparing the festival, do you have a sense that

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Speaker 1: there is that pent up demand that people are really

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Speaker 1: excited to go back to theaters or do you think

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Speaker 1: that we might see a more fundamental shift in behavior

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Speaker 1: after this you know, long period of lockdown with the

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Speaker 1: festival right now. As we were planning this, you know,

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Speaker 1: smack in the midst of the height of COVID, we

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Speaker 1: we took a gamble that come June, people you know,

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Speaker 1: we would have uh more people vaccinated. The weather was different,

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Speaker 1: our whole uh you know, the whole awards calendar, festival

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Speaker 1: calendar had shifted, and uh, we were we were cautious

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Speaker 1: about whether or not we booked being you know, booked theaters, uh,

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Speaker 1: because we didn't one thing people would want to come

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Speaker 1: indoors and also wenew the capacity wasn't going to be

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Speaker 1: at a hundred. So we created um these amazing um

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Speaker 1: uh you know outdoor screenings from the Battery, from the battery,

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Speaker 1: uh Battery Brooklyn, Staten Island, Uh, the Bronx. Uh. We're

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Speaker 1: we're all, we're all over the place. We're taking what

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Speaker 1: the festival has done, um, you know, from its inception

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Speaker 1: after nine eleven, when we started the film Festival to

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Speaker 1: bring people back downtown to really help stimulate the local businesses,

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Speaker 1: local restaurants. So I hope we can do a little

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Speaker 1: of that too. As we go into all these other communities,

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Speaker 1: UM in New York, and uh, what's a better way

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Speaker 1: to um start to bring people out than to watch

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Speaker 1: a movie. We're opening within the Heights and will be

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Speaker 1: at the United Palace Theater in the Height and then

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Speaker 1: kind of fits the theme, find a basic theme, and

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Speaker 1: then we will simultaneously screen in the Heights to all

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Speaker 1: those uh, all of those theater locations that I mentioned. Oh,

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Speaker 1: that'll be fun. That will really kind of have that

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Speaker 1: that spirit of event. Well, for a festival born out

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Speaker 1: of out of tragedy and and strife and difficulty, I'm

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Speaker 1: guessing that tackling creating multiplexes in multiple locations was probably

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Speaker 1: it was probably new for you, but still not given

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Speaker 1: the given the origins of the fest, probably not the

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Speaker 1: toughest thing that you've ever tackled with. Rebecca. No, I

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Speaker 1: think the first, you know, the first festival was this

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Speaker 1: is very difficult too, because it's emotionally people coming out

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Speaker 1: and people being a bit afraid, and you know, just

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Speaker 1: the emotional toll that uh covid has taken on on everybody.

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Speaker 1: Although that that first festival, UM, I think I was um,

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Speaker 1: I think I had a bit of PTSD and was

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Speaker 1: obsessed with how many people we could bring back downtown.

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Speaker 1: The first time I've gone into the Regal theater Um Downtown,

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Speaker 1: which was right across from the Trade Center site, I

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Speaker 1: was in a hazmat suit and you know, that was

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Speaker 1: you know, that was that was all the destruction, the

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Speaker 1: physical destruction of the city, of these massive buildings and

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Speaker 1: the loss of life was just was palpable at that time.

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Speaker 1: You know, it's just about bringing back um to life

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Speaker 1: what we all love to do. And you know, certainly

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Speaker 1: here in New York, uh and in l A. You

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Speaker 1: know how much the entertainment business means to us, both

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Speaker 1: from a business standpoint but also from a mental health standpoint,

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Speaker 1: and certainly in New York the business of entertainment and

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Speaker 1: how it relates to tourism and uh, you know what

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Speaker 1: it brings to the city. And what was what's been

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Speaker 1: lost in those eighteen months? Uh? I think it was

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Speaker 1: it was two days ago. I suddenly saw a commercial

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Speaker 1: for the Broadway show Mulan Rouge. I got so excited.

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Speaker 1: You realize, Oh, I haven't seen commercials like this and

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Speaker 1: so long. No, it was you know, we're coming back. Yeah, yeah,

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Speaker 1: there's nothing nothing was sadder than being in the theater

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Speaker 1: district with all the lights dimmed and all the marquees

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Speaker 1: looking forlorn. Has the Trenca Festival as a business has it?

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Speaker 1: I know, you know, festivals take a while to find

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Speaker 1: their sea legs financially. But has tried back of the festival.

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Speaker 1: Has it grown into a profitable business for Trybek enterprises?

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Speaker 1: Not a hundred percent. Yet we're getting there, without question

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Speaker 1: getting there. Uh. Look, I mean the most expensive city

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Speaker 1: in most expensive city. When somebody says, uh, when somebody

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Speaker 1: says to me, who's your biggest competition as a festival, Um, Like,

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Speaker 1: my biggest competition is in New York City itself is

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Speaker 1: Hampton is the Nix in a playoff game? Finally? Uh

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Speaker 1: and the Nets and you know Nets in a playoff game?

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Speaker 1: I mean where could that happen? Um? We deserve it

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Speaker 1: here in New York. But you know that was you know,

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Speaker 1: it's it's costly to be in New York and to

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Speaker 1: do this. Um, but you know, we're we're getting there,

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Speaker 1: particularly with our the other verticals that we have been

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Speaker 1: working on for a number of years. And I would

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Speaker 1: imagine the city is very supportive. I mean I'm I'm guessing,

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Speaker 1: you know, again, the festival was born out of trying

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Speaker 1: to help help the downtown area. But would you say

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Speaker 1: that they you know, given that the city the mayor

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Speaker 1: has had a lot going on in the last eighteen months,

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Speaker 1: were they were they helpful? I would imagine that they

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Speaker 1: were very encouraging and having you get re Rebeca back

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Speaker 1: on its eat again Inanda Castillo, who's the commissioner from

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Speaker 1: MOME Mayor's Office of UM Entertainment, Media and Entertainment. Yeah,

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Speaker 1: and also a strictly business podcast guest. I have interviewed her.

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Speaker 1: She's terrific, jeez, terrific she's been. She's been extraordinary in

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Speaker 1: the Parks department has been very helpful. Um you know,

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Speaker 1: but they're not giving you They're they're helping us by,

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Speaker 1: you know, alleviating some costs, but not you know, nothing, nothing,

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Speaker 1: nothing substantial. I mean, one of the things in this

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Speaker 1: country is that you don't have the you don't have

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Speaker 1: this support for the arts. So it does become either

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Speaker 1: you know, private private funding or through other types of partnerships.

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Speaker 1: Don't go anywhere. We'll take a short break and be

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Speaker 1: back with more from TriBeCa's Jane Rosenthal. M And we're

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Speaker 1: back with more from TriBeCa's Jane Rosenthal. Let me go

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Speaker 1: back a little bit more about Tribeca Enterprises outside of

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Speaker 1: the festival. And you mentioned with LUPA Systems and other

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Speaker 1: a new set of investors coming in that you've opened into.

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Speaker 1: You feel like there's openings in other areas. Where do

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Speaker 1: you see the biggest growth opportunities for a company like

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Speaker 1: Tribeca Enterprises that is involved in different forms of content

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Speaker 1: lives of live events. You see it as more in

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Speaker 1: the event experience spaces, branded content or you know, phil

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Speaker 1: film and TV content. Um I certainly see for Tribeca

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Speaker 1: Enterprises where we can take some of our events and

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Speaker 1: grow them beyond just the festival and you know, go

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Speaker 1: to other uh you know, other other cities globally. Um I.

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Speaker 1: You know, also see what we can do in our

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Speaker 1: branded content space um as as growing. Um So, this

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Speaker 1: year we have I guess this is our seventh or

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Speaker 1: eighth year of doing Tribeca X, which is really for

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Speaker 1: cmos who are telling telling their telling their stories in

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Speaker 1: UH in different ways really through social good and diverse storytellers.

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Speaker 1: Um So, we have a wonderful uh guest list of

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Speaker 1: Doug mc Doug McMillan, Lorraine to Hill from Google. Um,

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Speaker 1: you know, so will be an interesting, um business conversation

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Speaker 1: to have, and especially right now given given where people

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Speaker 1: are kind of at that crossroads of just launching back

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Speaker 1: into something like normal marketing plans and spending and how

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Speaker 1: did they spend their money during this time or where

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Speaker 1: are they going to put their their doctors. I mean

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Speaker 1: we have gone through uh certainly as a country between

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Speaker 1: COVID and the George you know, George Floyd and um,

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Speaker 1: what has been exposed as uh, you know what COVID

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Speaker 1: has exposed for the inequities in this country. And on

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Speaker 1: one hand, um, well that's been extremely extremely painful. It's

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Speaker 1: an opportunity to change a lot of our infrastructure, whether

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Speaker 1: that becomes broadband for all. Uh, looking at how I

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Speaker 1: mean you look at how um you know just you

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Speaker 1: know just how different business models have to change. How

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Speaker 1: you know how movie theaters, um, you know a lot

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Speaker 1: of them. You know that a lot of that was

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Speaker 1: teetering on the brink prior to COVID and it kind

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Speaker 1: of pushed it. Right now, what's going to emerge? And

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Speaker 1: I do think there'll be a healthier, um, more interesting

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Speaker 1: business that will that will emerge. Do you feel, UM like,

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Speaker 1: are you as going forward as strongly as you would have,

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Speaker 1: say in before the pandemic craziness? Are you going forward

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Speaker 1: with a feature film slate as ambitious as you might

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Speaker 1: have before the pandemic or has that curbed any of

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Speaker 1: this herb your uh enthusiasm atal trying to enterprises doesn't

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Speaker 1: have a feature film slate. That's really what we Bob

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Speaker 1: and I do on Tribeca Productions in terms of what

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Speaker 1: you know, what we develop, and you know, we're a

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Speaker 1: small company on that side, so uh from that point

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Speaker 1: of view, We've came out of a very heavy production

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Speaker 1: here in eighteen nineteen and we're kind of back in

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Speaker 1: that development things. UM. In terms of Tribeca Enterprises, it's

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Speaker 1: been fascinating to see the films that have been coming

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Speaker 1: out of it. I think we have our strongest competition

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Speaker 1: year UM and also trying to push a new platform

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Speaker 1: called Tribeca at Home, which if you can't come to

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Speaker 1: Tribeca or you only want to go to one or

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Speaker 1: two screenings, you can UM watch Tribeca at home. And

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Speaker 1: they're not it's not just uh it's not just a

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Speaker 1: repeat of the movies, but there are special feature ats

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Speaker 1: and special um, you know, shorts very specifically for that

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Speaker 1: that platform you mentioned earlier, The Irishman and the project

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Speaker 1: that that took twelve years, um, you know, one of

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Speaker 1: the famously longest stating film projects that um that sometimes happened.

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Speaker 1: How do you feel now that you're about two years

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Speaker 1: out from its release? How do you feel about how

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Speaker 1: it performed and having it beast be not exclusively but

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Speaker 1: such a you know, it was a Netflix. It was

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Speaker 1: a Netflix movie for all intensive purposes, although it did

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Speaker 1: have some theatrical distribution. How did you feel about it

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Speaker 1: in in the final analysis? Uh, as the movie itself

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Speaker 1: and working with Scorsese, de Niro, Pesci, Piccino, I mean,

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Speaker 1: kite hell, I mean that was It's kind of a

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Speaker 1: dream come true, especially if you went to n y

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Speaker 1: u u. UM. But so that you know, I'm very

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Speaker 1: very proud of that. I'm very proud of that movie,

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Speaker 1: and you know, I feel so fortunate to have worked

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Speaker 1: with all of all of them together, um in that capacity. Uh.

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Speaker 1: In terms of where you may be trying to ask

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Speaker 1: the question about uh, Netflix and distribution at the time

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Speaker 1: Netflix had I could probably get I mean, they were

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Speaker 1: over a twelve independent theaters domestically had booked irishman um

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Speaker 1: and Netflix was ted Surrander, Scott Stuber were you know

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Speaker 1: so committed to showing this theatrically. Uh they had taken

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Speaker 1: over the Alaska Theater uh here in New York and

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Speaker 1: turn that into a movie theater. So and it was

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Speaker 1: playing you know, in other parts of other parts of

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Speaker 1: New York and again in independent theaters about the country,

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Speaker 1: also in independent theaters throughout throughout the world. So I

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Speaker 1: was very pleased at that. You know, it was you

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Speaker 1: were still having that fight at the time of what

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Speaker 1: the window was going to be. You know, Netflix only

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Speaker 1: wanted six weeks, but the theaters wanted three months. I

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Speaker 1: would say today the theaters would have taken the six

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Speaker 1: weeks um right. So, you know, time has a way

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Speaker 1: of changing people's mind. But God knows, nobody wanted to

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Speaker 1: go through a pandemic to have to you know, a

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Speaker 1: global pandemic, to have to change business models. But things

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Speaker 1: happen in strange ways. Thanks for listening. Be sure to

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Speaker 1: leave us a review at Apple Podcasts. We love to

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Speaker 1: hear from listeners and be sure to tune in next

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Speaker 1: week for an another episode of Strictly Business m