Startups, Studios, and Comebacks: How Vice Is Reinventing Itself as a Production Player

Hook: Why you should care — and fast

If you’re a producer, talent manager, content buyer or culture nerd trying to make sense of 2026’s noisy media landscape, here’s the short version: Vice Media is quietly turning into a studio — and its new C-suite hires reveal where the money, deals and creative control will flow next. That matters for indie production houses hunting financing, talent negotiating future pay and brands buying content for crowded platforms.

The headline: Vice’s studio pivot, in one paragraph

After emerging from its post-bankruptcy reset, Vice has been recruiting senior executives from talent agencies and legacy studios. The addition of Joe Friedman — a veteran from ICM/CAA — as CFO, and the appointment of former NBCUniversal biz-dev veteran Devak Shah to strategy, signal a deliberate shift: from publisher and production-for-hire to a vertically integrated production company and IP studio that packages talent, finances projects and strikes distribution partnerships.

Quick context (late 2025 — early 2026)

• Vice's leadership moves were reported widely in early 2026 and confirm a broader industry trend: media companies doubling down on owned IP and studio capabilities.
• Simultaneously, agencies like WME are signing European transmedia IP studios (e.g., The Orangery), showing that talent and agency ecosystems are aligning around packaged IP and transmedia-ready assets.
• Streaming consolidation and theatrical rebounds have made buyers choosier — they prefer projects with built-in audiences or data-backed viability. That’s Vice’s sweet spot.

Why the CFO hire matters: beyond spreadsheets

It’s easy to skim past financial hires as internal housekeeping. This one is different. Joe Friedman’s background at ICM/CAA and his time consulting with Vice means he’s fluent in talent economics, packaging fees and agency-finance dynamics.

What that signals:

• Vice will pursue structured financing and hybrid deals that blend talent participation, pre-sales and equity — not just fee-for-service TV and branded content.
• Expect more packaging where Vice is the counterparty to agencies on deals that include backend points, IP stakes and cross-platform rights.
• Vice may also centralise fiscal workflows to better present slate economics to strategic investors and platforms.

Why the strategy hire matters: distribution and partnerships

Devak Shah’s experience in NBCUniversal-style biz dev gives Vice muscle in negotiating windows, co-productions and network/platform relationships. In 2026, distribution is less about owning a streaming platform and more about optimising windows and revenue streams across linear, AVOD, FAST, SVOD, theatrical and social-first funnels.

What to expect:

• Targeted output or first-look deals with streamers and distributors that want youthful, social-native IP.
• Strategic alliances with agencies and transmedia studios for European and global sourcing (see WME’s signing of The Orangery).
• Data-driven go-to-market strategies that tie Vice’s audience channels to release plans — a major advantage versus legacy indies.

What the pivot means for indie production companies

If Vice becomes a studio that packages talent and owns or co-owns IP, indie producers face both competitive pressure and new openings.

Risks for indies

• Competition for mid-tier talent and IP — Vice can offer cross-platform reach and packaged deals that small producers can’t match.
• More aggressive rights consolidation: studios can demand wide rights, leaving indies with fewer ancillaries to monetise.
• Price compression on service work as Vice scales production capabilities in-house.

Opportunities for indies

• Co-pro packages: Partner with Vice as a producing partner on projects where you bring niche IP, local know-how or tax incentives.
• Ancillary windows: Keep and carve out non-core rights (podcasts, graphic novels, games) to monetise outside main distribution channels — learn from podcast subscription plays.
• Specialised expertise: Offer value in areas Vice may under-invest in: VFX microservices, regional casting, or documentary depth pieces linked to fictional projects.

Talent deals: the shifting bargaining chips

With talent-agency veterans now inside competition (Vice’s CFO) and agencies packaging IP-studios, the talent-market is evolving. Here’s how talent and their reps should adapt:

Key negotiation fronts in 2026

• Equity and backend participation: Studios will offer cash-light deals with equity or backend points. Negotiate clear payout waterfalls and audits.
• Transmedia rights: Ensure talent keeps or negotiates percentage for non-linear uses (games, comics, VR, AI uses).
• Reversion and buy-back clauses: Ask for time-limited reversion of rights if a project stalls.
• AI usage and likeness: Explicit limits and compensation for generative AI re-uses — a hot negotiation topic in 2026. See practical guardrails in AI cleanup and policy guidance.

Content buyers: what to watch when Vice comes calling

For streamers, networks and brands, Vice-as-studio offers clear benefits — built-in youth reach, social expertise, and a pipeline of edgy IP. But buyers must be disciplined.

Due diligence checklist for buyers

• Confirm clean IP chain-of-title and proof of all transmedia rights.
• Insist on performance metrics from Vice’s owned channels where applicable (engagement, retention, conversion rates).
• Negotiate limited exclusivity windows and escalators based on audience performance.
• Factor in global licensing carve-outs — e.g., who holds rights in EMEA/APAC?

Transmedia and the agency axis: why The Orangery signing matters

Agency deals like WME signing Europe’s The Orangery in early 2026 underline a broader shift: agencies and talent groups are actively acquiring or representing IP studios that can be packaged across mediums.

Why Vice pivot + transmedia studios are a dangerous combo:

• Vice brings audience and distribution muscle; transmedia studios bring IP that’s already designed to expand into games, comics and merch.
• Agencies act as matchmakers — packaging IP with talent, attaching funding and clearing global distribution.
• Result: faster development cycles and projects that are born multi-platform — ideal for attention-starved 2026 consumers.

2026 trends that make Vice’s move timely

1. Streaming consolidation — fewer buyers now want high-risk standalone projects; they want IP with cross-platform performance data.
2. Audience-first commissioning — buyers prioritise projects with proven social or community traction; Vice has audience channels to bootstrap this.
3. Transmedia monetisation — comics, games, live events and merch now make up meaningful revenue slices, not afterthoughts.
4. AI and production efficiency — generative tools shorten pre-pro and VFX timelines, enabling studios to do more with less. See operational cautions in AI cleanup patterns.
5. Regulatory and tax landscapes — post-pandemic incentives and territorial tax credits are shaping where and how content is made.

Scenario planning: three ways Vice’s pivot could play out (12–24 months)

1) The Optimist — The Audience Studio

Vice leverages its channels to test short-form pilots, scales winners to long-form, and secures first-look deals with streamers. Indies and agencies benefit from co-productions and shared upside. Talent gets more creative control in exchange for backend participation.

2) The Realist — The Hybrid Player

Vice secures a mix of branded, co-financed and studio-owned projects. It takes equity in promising IP, builds transmedia teams, and acts as a seller to global buyers. Competition intensifies but partnership opportunities increase.

3) The Cautionary — The Consolidator

Vice focuses on scale and ownership, aggressively consolidating IP and talent. That squeezes margins for indies and forces talent into fewer, larger deals. Buyers face higher prices for edgy, youth-focused content.

Practical playbook: actionable advice for three audiences

For indie producers (fast checklist)

• Build transmedia-ready pitch packages: include game/story bible, merchandising plan, short social pitches and estimated CPMs.
• Secure clear chain-of-title and all underlying rights upfront. Use provenance best-practices (see provenance guidance for drafting robust ownership exhibits).
• Offer co-pro deals with defined upside splits and reversion if milestones aren’t met.
• Use data: include social analytics and audience tests to make projects investment-ready — be mindful of predictive pitfalls when leaning on models.

For talent and agents

• Negotiate AI and likeness clauses and specific compensations for generative uses (see operational issues in AI cleanup guidance).
• Push for equity or producer credits when partnering with studio-publishers like Vice.
• Insist on audit rights and transparency in backend reporting.

For content buyers and brands

• Demand audience performance data for platform-first pilots and use a feature matrix to assess platform toolsets.
• Structure deals with clear performance escalators and limited exclusivity windows.
• Consider strategic partnerships with IP studios for early access to multi-format content.

Case study: a hypothetical Vice-powered transmedia rollout

Imagine Vice acquires or co-develops a gritty, comic-origin property from a European IP studio (like the ones signing with WME). They pilot a short-form social series tied to a graphic novel release, measure engagement, then greenlight a six-episode streamer order with a first-look partner. Merchandise and an Audible-style narrative podcast roll out in parallel, with a game studio on a licensed mobile adaptation. Vice finances the pilot via a mix of pre-sales, talent-equity and a slate financing line sourced by the CFO.

Outcome: rapid multi-revenue streams, strong cross-promotion and a high-value IP that can be re-licensed globally — a model that benefits Vice as an IP studio and demonstrates the value of transmedia-first strategies to buyers and creators.

Risks and red flags to watch

• Opaque backend reporting and complex waterfalls that hide true economics.
• Overreliance on social metrics without a sustainable long-form audience.
• Talent exhaustion and churn if studio roles blur with publishing responsibilities.
• Regulatory issues around data, AI rights and cross-border licensing.

“A successful studio pivot isn’t just about hiring the right executives — it’s about building repeatable processes that convert audience attention into sustainable IP value.”

What this means for the UK market

UK producers and buyers should pay attention. Vice’s global expansion and transmedia playbook—plus agency interest in European IP—mean more cross-border co-pros and competition for UK-origin IP. But the UK also benefits: strong creative talent, tax incentives, and Europe-native IP studios are attractive partners for any studio looking to scale internationally.

Action for UK creators: tighten legal packaging, prioritise exportable intellectual property, and cultivate agency relationships that can place projects into Vice-style studio pipelines. Also plan for practical cross-border logistics (see automating work-permit renewals guidance at our case study).

Bottom line: Vice’s reboot is a signal, not a standalone threat

Vice’s C-suite hires and public pivot are emblematic of a wider industry reboot in 2026: media companies are becoming studios, agencies are acting like incubators, and transmedia-first IP is king. For indies, talent and buyers, that means reshaped deal economics and new partnership math — but it also creates practical new pathways to scale.

Actionable takeaways — what to do this month

1. Create or update a transmedia pitch kit that includes social-first pilots and revenue projections.
2. Audit your chain-of-title and draft standard reversion language for stalled projects.
3. Negotiate at least one AI/likeness clause into new talent deals.
4. Reach out to agency contacts with a short list of projects that can be packaged for studio partners.

Final forecast

Expect Vice and similar players to accelerate the move toward integrated studio models through 2026. That will increase deal complexity but also broaden the palette of opportunities for those who prepare. The winners will be those who think in IP-first, transmedia-second terms and build transparent financial and rights infrastructures that make partnerships attractive.

Call to action

Got an IP, a project or a deal to vet? Share it in the comments or sign up for our free Studio-Ready Pitch Kit to tighten your contracts and boost your odds with studios like Vice. If you work in production, talent or purchasing — follow us for weekly briefs that cut the noise and give you the practical steps that matter now.

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