Lionsgate, Spanish Partner to Bow ‘Instantly Rich’10 Mar, 2009 By: Erik Gruenwedel
Lionsgate and Madrid-based mobile content producer Zed have agreed to re-purpose the latter’s popular Spanish reality show, “Instantly Rich,” into a weekly American series earmarked for TV and portable media devices.
The program will follow five randomly selected contestants who must complete selected challenges for a chance to win $1 million based on viewer voting through SMS-based text messaging.
Ad-supported mobile messaging generated revenues of $130 billion worldwide in 2008, and is projected to rise to $224 billion by 2013, according to Portio Research. Portio projects mobile content to grow to a $47.2 billion market by 2013.
Lionsgate and Zed inked a production and mobile/TV distribution deal last September. No TV or cable provider has been announced.
"We expect mobile multimedia to generate a significant portion of the show's overall revenues,” said Kevin Beggs, president of television programming and production with Lionsgate.