U.S. HISPANIC
Dopamine: We bet on diversification to guarantee creative sustainability and IP
Maribel Ramos-Weiner| 13 de julio de 2022
Fidela Navarro
Dopamine is betting on diversification in the face of a changing market that requires constant new strategies and executives, a lot of supply but also of demand, said Fidela Navarro, CEO of the company. She explained that this means they are aiming for complementation and creative sustainability of the studio. Hence, the decision to create business units: Originals, Co-productions, Cinema, Entertainment, and Services. In addition, they have the mandate of Benjamín Salinas, VP of the Board of Directors of Grupo Salinas, to generate intellectual property (IP).
“We were born as a studio that creates and produces, but also generates intellectual property, which is why we don’t just deal with the originals because in the end, you do, you make money, you make industry, but you are not the owner, you don’t own nothing about your project. But there is the co-production part, the world of entertainment and now we are going to the cinema, which will allow us to continue placing and retaining intellectual property,” she said.
She assures that Dopamine has an added value that makes them more competitive: the control they have of the operational part of the productions. The experience they have gained by producing in other countries and with different teams and platforms has allowed them to incorporate new standards, such as eco-management, ethics, and self-regulation, handling harassment on set, or professional bullying, among others. “These standards will be mandated on all productions very soon,” she said.
They not only bet on big productions, but also are part of co-productions having the lead, as in the case of Supertitlá, and others such as Close to Me, in which they only invested (although they were very involved). “There are other co-productions that we are getting involved as a business, investing in the last mile. We do not go into development or production. In this case it is just an investment business. So we have three business models in the case of co-production and we are the only production studio that does that,” she said.
Navarro explained that Dopamine requires an important operation, investment in development, which is not only money but time. And at the same time, they can work in other areas, such as production services, co-productions, etc. “Diversification obeys the mandate to generate intellectual property and also a market opportunity. The market is growing and we have grown with it,” she said.
In her opinion, it’s not clear what the platforms want and many are still experimenting, and have also diversified, creating film and entertainment teams. “There are many companies that have pitched them projects, but they do not have a production arm and that is where we come in because we have available talent and the know-how to contribute a lot. It means lower risk and good returns that help us play with the business units,” she said.
There are very large projects that require a lot of investment and financing. “We work with our flows, with our short, medium, and long-term profitability, and our cash flows. So diversification also allows us to be there when one area or project is on hold, we are in full swing with another project and in the pitching process with another. The third factor of diversification is my profile and my character: I like it. The mandate is that we test and propel different things. I find it very interesting to do development, produce movies and also get to know the pulse of entertainment,” she said.
