How to Make Money With Content: An Explainer With Ben Silverman

There’s nobody better to talk showbiz shop with than Ben Silverman.

The chairman and co-CEO of Propagate Content sat for an interview with Variety’s “Strictly Business” podcast as Propagate marks its 10th year in business. Yes, TV and film production is going through a period of contraction, and yes — it’s harder to make huge money in TV than it was a generation ago. But there is no hint of despair in Silverman’s voice.

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“I always feel like the hits find money and success creates opportunity,” he says. The conversation goes deep on the business models that make sense for Propagate and the levers that are available (or not) for producers to bring in money. Silverman cites two upcoming Propagate shows — Owen Wilson comedy “Stick” and animated kids show “Lulu Is a Rhinoceros,” both for Apple TV+ — as examples of the different paths to monetization for different kinds of series.

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“‘Stick’ is set in the world of golf. There’s so many people interested in golf and being connected to the golf consumer, and there are so many actual merchandising opportunities for golf,” Silverman says. “Can we unlock ‘Lulu Is a Rhinoceros’ and the value that comes with an animated show based on a book. Or there’s a music soundtrack in that show. Can we unlock value in that participation so all of those pieces of content have different versions of financial return,” he continues. “None of them today have like the kind of massive potential upside that we had making TV shows in the ’90s and aughts. So now, to get to the scale that you need, you really do need a certain volume. You need volume, and you need chips on the table and bets. You need to think through as smartly as you can what every deal looks like for where that upside lies.”

Silverman has been at the forefront of innovative dealmaking through his role as a savvy and ambitious William Morris Agency agent who helped spark the reality TV boom of the early 2000s. He was at the forefront of bringing brand money back into production and scouting overseas for hot remake and co-production prospects as well as talent. From 2007 to 2009 he headed programming for NBC.

Today, Propagate is busy in TV and film. It has talent management interests (Artists First, Select, Authentic), and is increasingly active in managing and setting up brand partnerships for social media creators.

“I have a whole thesis about our entire business that was from the day we opened it: Content creates culture, comes commerce,” he says. “And is that content the influencer? Is that content the TV show? Where we’re driving culture drives commerce, and that is an amazing opportunity that’s been unlocked through the technological transformation of how the internet allows us to talk one to one and one to many.”

Silverman also reflects on his time at NBCUniversal (“It gave me a stomachache”) and his deep regret over the rushed sale process for his first production banner, Reveille, in 2007 when he took the NBC job.

“My children don’t even realize how much I regret selling it,” Silverman says.

“Strictly Business” is Variety’s weekly podcast featuring conversations with industry leaders about the business of media and entertainment. (Please click here to subscribe to our free newsletter.) New episodes debut every Wednesday and can be downloaded at Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud and more.

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