Documentaries May Be Heating Up Again, But Not To The Same Level Of The Boom Years

Topline:

The details: In recent years the streamers seem to be all about documentary biopics that center on iconic sports and pop culture figures — Arnold, Sly, Val! — and yet they have cooled on the more sophisticated stories that fueled the documentary boom that started in 2012 and had everyone from Will Smith to the Duplass Brothers jumping into the space.

The background: The 51% tumbling of Netflix’s stock in 2022 is widely considered the end of the documentary boom and it triggered a contraction and widespread layoffs in the documentary space.  

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As the industry consolidated key executives either retired or were let go which caused further concern among documentary filmmakers. All of a sudden, the industry’s focus started narrowing and companies were privileging more celebrity-driven bio docs because they are seen as less-risky bets. But that shift has the mission-driven community of documentary filmmakers who see themselves not unlike journalists with cameras deeply worried about the future of their industry.

What’s next: Hollywood’s pivot to streaming undoubtedly has been a boon to the doc world, but much of the industry is eager to get back to a time when there was a more diverse slate of films. Whether that’s a creative issue or a business one is the question on everyone’s mind. 

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This story is published in partnership with The Ankler, a paid subscription publication about the entertainment industry.