Parsons follows his nose to support talent
Posted under: Sunday April 15, 2007
The Observer News Article
Planet 24 made Charlie Parsons rich. Now he’s looking for people to invest in, says Tara Conlan
He made millions from the sale of Planet 24 with Bob Geldof and Waheed Alli and created hit show Survivor. But now Charlie Parsons is setting up his own investment company. ‘The idea just came about; I thought why not give it a go. It’s very selfish. It’s all about keeping me interested and alive.’ And so Charlie Parsons Creative Ltd is born.
Using some of the fortune accrued during his years in television and a vast network of contacts, Parsons is looking to act as a venture capitalist and mentor to people with creative ideas. He is not revealing the total amount in his fund, but says that sums of about £50,000 to £250,000 are available as seed money. In exchange, Parsons will reap some reward, either through equity or a return on investment.
The parameters are wide, he says; just don’t bombard him with pitches for new television shows. ‘It’s about people really, not just the projects that go with them. We’ve started by looking at good people who are able to run things, who will benefit from a bit of mentoring.’
But why would the highly private Parsons want to make such a move? Why not continue to enjoy the fruits of his labour? Or has he tired of that? ‘Actually, no. I don’t want to lose my lifestyle to do it, but I thought it would be interesting.
‘If I look back at the success of Planet 24, all of the people have gone on to do amazing things. Look at the top 10 independents and top broadcasters; that’s where they are now. I don’t want to do the same thing again, but I thought it would be quite good to tap into that part of its success and develop new ideas and interesting people.’
Parsons made his money when he and his partners sold Big Breakfast producer Planet 24 to Carlton for £15m in 1999, but cannily they retained the rights to island reality show Survivor through CastawayTelevision Productions.
Survivor ran for two series on ITV and sold around the world, but it was in the US that it prospered most, earning Parsons a fortune and the title of ‘the daddy of reality television’. Last year he was paid a dividend of £1m from Castaway, plus fees of £1.5m, for his role as executive producer.
Apart from some publicity when Castaway launched legal action for copyright infringement against Granada over I’m A Celebrity… Get Me Out of Here in 2002, Parsons has avoided the spotlight and enjoyed reaping the rewards. Lean and tanned, he is a good advert for taking life easier and is determined that the new venture will not take over.
‘I’m not going to spend all of my fortune on it, but if it’s more than I’ve got then we might seek co-backers or other venture capitalists. One of the things with venture capitalist funds is they want to put in large sums. Sometimes people don’t need so much. This is much more about mentoring good people. But they’ve got to be for first-class ideas.’
Private equity and creativity have had a rocky relationship. Monetising creativity is sexy in the City but often leads to conflict between the creator and the investor who wants a return. Parsons understands both sides. He is also well-connected in the media, entertainment and political worlds.
Is there an element of Dragons’ Den in what he is doing? ‘I’m not as nasty as that. Dragons’ Den and The Apprentice are done in a way that is far from the real business world. They aren’t about problem-solving. With the task of problem-solving, people often have the right tools but they aren’t sharpened in the right way. Dragons’ Den isn’t about taking things through. It’s quite a nasty programme. But I’m not philanthropic. And I’m not expecting everything I get involved in to succeed.’
The field is open to any creative idea and person, from live events to a revolutionary piece of hardware : ‘It could be anything, as long as it’s new. For me, the parallel is with programme-making, where I had the ability to spot new things and see their potential. I’m not really necessarily looking for something fully developed, but they’ve got to be reasonably worked-out concepts.’
Before the official launch of Charlie Parsons Creative, he had already looked at 60 or 70 ideas . About four or five are ‘bubbling under’ and one has already been given the green light, a musical about Take That called Never Forget, which has already sold £1m worth of tickets.
‘I’m hoping each challenge will be different. Some won’t need much money. With Never Forget, the people there are very good at what they do. For some people it’ll be more about me pointing them in the right direction,’ says Parsons.
The uniqueness of live events is an area for expansion: ‘Most things people watch on TV aren’t in real time any more. It has ceased to have the same value, whereas live events still have that.’
Despite what he said about not wanting to be sent loads of TV proposals, he is not ruling out the possibility of backing one: ‘ An amazing, unique, first-out-of-the-tracks one could get me interested. As Survivor showed, you really only need one amazing idea and then you’ve got a lot to build on.’ The website through which potential candidates can approach Parsons – www.charlieparsons.co.uk – goes live in a week or so. It is probably a safe bet that CPC will be bombarded.
Life and times
Name: Charles Andrew Parsons
Education: Tonbridge School; Oxford
Career
1980, reporter, Ealing Gazette;
1982, researcher, LWT;
1988, series editor, Network 7 (C4);
1990, executive producer, The Word ;
1992, MD, Planet 24 ; 2001, launches Survivor;
2001 to present, CEO, Castaway Television
