UK and Netherlands-based producer-distributor in discussions to find ‘new home and partner’
My Octopus Teacher producer Off the Fence has entered bankruptcy proceedings, becoming the latest indie casualty of tough trading conditions.
The 31-year-old producer-distributor, which is based in the UK and Amsterdam, is currently in the hands of a trustee after its management and ZDF Studios, its sole shareholder since 2019, were unable to get it on a financially firm footing.
The trustee is overseeing any further developments at the company, which has a content library of more than 6,500 hours. ZDFS and OTF’s management team, led by chief executive Bo Stehmeier, are working with the trustee on the company’s next steps. C21 Media first reported news of OTF’s bankruptcy.
Stehmeier said via a statement that OTF is in “negotiations with some interested parties and we hope to find a new home and partner”.
He said: “Off The Fence has experienced a time that has undoubtedly been one of the most challenging for all businesses in our sector on a global scale,” he said. “OTF has also realigned itself after the pressures of the pandemic to meet the shifting demands of a future content world through building infrastructure to launch digital first, FAST, AVoD and YouTube strands to its business.
“The work of diversifying revenue streams, strengthening global partnerships, co-productions and funded developments with brands, philanthropic agencies and building a digital infrastructure has created a proposition that is, in our view, a very attractive vehicle for global partners with a vision of scale and quality.
“Despite the joint efforts of everybody at Off The Fence and shareholder ZDF Studios, we were not able to avoid this situation.”
Founded by Ellen Windemuth in 1994 in the Netherlands, OTF is a well-known natural history producer. It makes, acquires, localises, and distributes programming via its creative and commercial offices in London, Bristol, Amsterdam and Toronto.
Its Bristol-based production division gained worldwide acclaim in 2020 for Netflix original documentary My Octopus Teacher, which won the Academy Award for best documentary feature, the best documentary Bafta film award in 2021, and other international accolades.
Having rejoined the company as co-chief exec in 2020, Stehmeier took the reins outright in 2021, introducing a major company rejig to focus on three pillars – OTF Originals, OTF Studios and OTF FAST, aiming to repurpose the business for a post-pandemic world.
OTF Originals has produced more than 700 hours of programming during its lifetime, while its Amsterdam-based distribution arm has been a consistent player in the global sales business, helping to broker co-financing/co-production partnerships and handling finished programme sales.
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