REinvent CEO Rikke Ennis talks Survival Strategies

Rikke Ennis, the CEO of REinvent Studios, has been recognized as one of the most influential business leaders in the global media industry by being selected twice for Variety’s index of the 500 most influential leaders. Her company, based in Copenhagen, is known for its market-intuitive approach and forward-thinking strategies in the Nordic region.

Ennis and her sales team are gearing up to showcase a range of high-profile series and films at events like Göteborg’s TV Drama Vision and Nordic Film Market. Some of the highlights include “Pressure Point” starring David Dencik, the Erik Poppe-directed “Quisling,” “Heajastallan – A Sámi’s Wedding,” completed features like “Stranger” and “Second Victims,” as well as works in progress such as “The Dance Club” by Lisa Langseth, “Hana Korea,” and the quirky Finnish debut “The Squirrel.”

One of REinvent’s recent successes is the film “Beginnings” starring Jeanette Nordahl, which will premiere at Berlin’s Panorama section. Additionally, premium shows like “Heajastallan-a Sámi Wedding” and “Vigdís” will be featured at the Berlinale Series Market Select.

In a recent interview with Variety, Ennis shared her insights on the current state of the Nordic film and TV industry and how REinvent has adapted to the changing market dynamics. Despite the challenges posed by the COVID-19 pandemic, Ennis explained how the company has pivoted its focus towards partnerships, co-productions, and efficient financing structures to navigate the uncertainties in the industry.

Ennis highlighted the importance of being agile and adaptable in the face of market fluctuations. She emphasized the need for transparency in early-stage discussions about budget levels and financing terms to avoid unrealistic expectations and financial pitfalls later on. Ennis also addressed the rising production costs, inflation, and the challenges of securing bridge financing in the current market environment.

Regarding the competitive advantage of producers within integrated groups, Ennis acknowledged that consolidation in the industry is a growing trend. She expressed concerns about the potential impact on diversity and risk-taking if smaller production outfits are unable to survive in the increasingly streamlined market dominated by larger groups.

As REinvent Studios continues to navigate the ever-evolving landscape of the Nordic media industry, Ennis remains committed to staying true to the company’s independent spirit and innovative approach to content creation and distribution. Zentropa is one of the few major Nordic producers that has managed to successfully balance smaller auteur films with big commercial fare, thanks in part to their backing from Nordisk Film. However, they have also secured a safety net through a deal with the European Investment Fund, which provided them with a €26 million ($26.7 million) guarantee loan in 2021. This deal has been renewed, giving them around €27 million ($27.7 million) to cover up to 70% of a loss on projects such as NRK’s “Power Play,” TV2 Denmark’s “Oxen,” and C More/TV4’s “Evil.”

While having this financial support is beneficial, Zentropa’s CEO believes that more should be done to protect indie producers in the industry. He emphasizes the importance of treating producers as talent and ensuring they are paid a reasonable amount during development. Zentropa has also expanded their film slate to include arthouse titles alongside their partnership with SF Studios, in order to appeal to a wider range of buyers and compensate for SF Studios’ deal with Netflix.

Looking towards the future, Zentropa plans to continue focusing on the Nordics while also expanding into English-language content, particularly from countries like Ireland and Scotland that share cultural similarities with the Nordic region. They are currently exploring exciting projects from these regions that align with their unique storytelling style.

In terms of their upcoming flagship series for 2025, Zentropa has five big titles lined up including TV2 Norway’s “Quisling,” the drama thriller “Escaping Bolivia,” and “Reykjavik 112” based on a best-selling novel by Yrsa Sigurdadóttir. Additionally, they are working on the second season of the Danish event series “Oxen,” which is currently in pre-production.

Overall, Zentropa’s strategic focus on a diverse range of projects and their commitment to supporting indie producers sets them apart in the Nordic film industry. Their ability to balance art-house films with commercial successes, backed by financial support and a strong slate of upcoming projects, positions them as a key player in the evolving landscape of Nordic cinema.