Jon Voight, a Hollywood icon, recently unveiled a plan titled “Make Hollywood Great Again,” sparking considerable debate within the entertainment industry. While the plan encompasses various proposals for revitalizing the sector, one element in particular – the “Restoration of the FINSYN Rule” – has sent ripples through the television landscape. This seemingly obscure legal concept could drastically alter how TV series are financed, distributed, and ultimately, how tariffs are handled.

What is FINSYN and Why Does it Matter?

FINSYN, short for Final Syndicate Rule, was a regulation implemented in the 1970s to protect independent film and television producers. It essentially mandated that networks (like ABC, CBS, and NBC) purchase the full film library from the producers after a show’s initial run. This provided producers with a crucial revenue stream beyond initial broadcast rights, enabling them to recoup investments and fostering a more vibrant independent production ecosystem. The rule was repealed in 1992, significantly changing the financial dynamics of television production.

Voight's Proposal & Its Potential Impact

Voight’s call for FINSYN’s restoration isn't just a nostalgic plea for a bygone era. In the current media environment, dominated by streaming giants like Netflix, Amazon Prime Video, and Disney+, the implications are far-reaching. If reinstated, FINSYN could force streamers to acquire the full ownership of a show’s library, impacting their content licensing strategies and potentially increasing production costs. This could lead to a shift in how streaming services commission and finance original programming. Producers, armed with the guarantee of acquiring the full library, might be more willing to take risks on innovative and diverse projects.

Tariff Implications & International Markets

The FINSYN rule also has significant implications for international tariffs and distribution. With ownership of the entire film library, American producers would have greater control over how their shows are distributed and licensed globally. This could lead to negotiations with international broadcasters and streamers from a position of strength, potentially influencing tariff rates and revenue sharing agreements. It could also impact the competitiveness of foreign-produced content in the US market.

Challenges and Considerations

Reinstating FINSYN wouldn't be without challenges. Streamers, who have built their empires on content licensing, would likely resist such a change. Legal battles and lobbying efforts are almost guaranteed. Furthermore, the current landscape of global content distribution is vastly different from the 1970s, and a blanket application of FINSYN might not be the most effective solution. A modern adaptation of the rule, tailored to the realities of streaming and international markets, might be necessary.

The Broader Context: “Make Hollywood Great Again”

Voight’s FINSYN proposal is just one component of his larger “Make Hollywood Great Again” plan, which aims to address issues such as perceived political bias in the industry, the dominance of streaming services, and the need to support American filmmaking. Whether these proposals gain traction remains to be seen, but the debate surrounding FINSYN highlights the ongoing tension between the established networks, the disruptive streaming platforms, and the independent producers who fuel the engine of Hollywood.

The conversation around FINSYN and its potential return underscores a pivotal moment for the television industry – a moment where established rules are being questioned, and the future of content creation and distribution hangs in the balance.