Every producer in Hollywood has felt the pressure over the past year. Buying activity in television and movies has dropped significantly as the industry raises the bar on content volume and profitability while studios make cuts and reorganize for a different era.
Producer and director Tommy Oliver, who is also founder and CEO of the Confluential Company, is approaching the crisis with cautious optimism, saying that a healthier business landscape will open up more opportunities for independent players.
Oliver raised capital from Goldman Sachs several years ago to build Los Angeles-based Confluential. The company now runs a busy production services division and promotes and finances its own projects, as Oliver explains in the latest episode of diversity‘s weekly podcast “Strictly Business”.
“We focus on BIPOC stories and so we only put money into projects by creators of color. That’s all. And if it goes well (in Hollywood), that’s maybe OK to good for us. If it goes bad, it’s terrible because these kinds of projects are often at the back of the queue and we’re now unfortunately at a point where there’s also a ‘black tax’ on projects,” Oliver tells Strictly Business. “For us, the calculation of what makes sense and where the opportunities lie has completely changed because I’m not going to stop trying to do the things we can be proud of. I’m not going to stop trying to support the creators we should be doing business with, but we have to be able to do that responsibly or we can’t keep doing these projects.”
Oliver describes himself as a “spinner” because of his interest and skills in managing the business and creative side of filmmaking. With plenty of details – right down to the amount he was offered last year for the critically acclaimed Sundance film “Fancy Dance” – Oliver explains how Confluential was successful because it recognized the value of BIPOC stories that others overlooked. Once “Fancy Dance” star Lily Gladstone garnered Oscar buzz for her work in “Killers of the Flower Moon,” the conversation around “Fancy Dance” changed. The title was eventually acquired by Apple TV+.
“We knew the film was worth more, so we decided to wait and understand that things will change. And that’s the difference between how people value something, whether generally or at a specific point in time, and knowing when to make a deal,” says Oliver.
Oliver and his wife, producer Codie Oliver, created the unscripted series “Black Love,” which aired for six seasons on OWN. In the podcast, Tommy Oliver tells a story of daring deeds related to the show’s second season renewal that illustrates his approach to the business.
“We can be creative with funding. We can be smart because we can bet on the right things that have above-average potential,” says Oliver. “Because we know who the audience is. We know how to deliver creatively, and so if we can achieve the things we need to do, then we should be in a good position, especially if we do it responsibly. None of this works if we spend too much. None of this works if we don’t understand where the market is or how things have changed.”
“Strictly Business” is diversity‘s weekly podcast features conversations with industry leaders about the business of media and entertainment. (Click here to subscribe to our free newsletter.) New episodes are released every Wednesday and are available to download on Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud, and more.
