Condé Nast To Option Magazine Content For Movies
Conde Nast has certainly been keeping themselves busy. Just this year, the magazine owning giant has introduced branded web series, invested in e-commerce, appointed Anna Wintour to a new expanded role, and is not stopping there.
Dawn Ostroff, the president of Conde Nast's newly launched (2011) Entertainment division, spoke to The Hollywood Reporter about the publishing house's plans to adapt editorial content for other platforms, including television and film.
The division is looking to expand outside of their glossy sponsored web series already. Ostroff is said to be meeting regularly with Anna Wintour and Graydon Carter to develop content for on screen.
Conde Nast hopes to make use of articles already published in magazine titles, such as Vogue. This idea was spawned by the Argo situation. Many of you may not know that the Oscar Winning film Argo was based on a Wired article. The film itself grossed millions of dollars, but provided no financial benefit to Conde Nast, which publishes Wired.
Currently, a film adapted from Wired content about John Macaffee is in early stages. If made, Conde Nast will retain a share of profits, as well as a fee. Conde Nast is said to be optioning 20 additional film projects and 10 TV projects.
Honestly, this is a brilliant idea. It's a new take on copywriting, and Conde Nast is smart to take this initiative. With print content slowly on the decline, companies such as Conde Nast need to stay afloat by moving their efforts into tech space.
Ally Batista | Elite.
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