Mumbai: Fox Entertainment and in-house studio Fox Alternative Entertainment launched an international unscripted format fund to look for Intellectual Property (IP) for the global marketplace.

The decision is part of Fox Entertainment’s strategy to build and diversify its portfolio of content and revenue streams, said CEO Charlie Collier as he made the announcement on Friday. It will invest in and develop internationally originated unscripted program concepts ranging from reality-competition and variety series to other genres for platforms.

“Fox has long been a global leader in alternative programming. This enviable track record of more than three decades of success brings with it great expectations to remain as the world’s preeminent platform in the genre,” said Colier. “This fund presents us with the opportunity to continue identifying and curating formats that fulfil several key objectives: diversify our slate of owned content, expand Fox’s interests globally, and better serve our platform partners.”

Alternative Entertainment president Rob Wade who leads the Specials for Fox Entertainment will be responsible for overseeing the fund. FAE will co-produce series selected by the fund with each series’ partner, in order to provide cost-effective programming to local broadcasters.

FAE was formed in 2019 to oversee the production of Fox’s hit singing competition series and TV’s prime time programme – ‘The Masked Singer’. In addition to the ‘Masker Singer’, it produced ‘I Can See Your Voice’, last season’s top unscripted program, ‘The Masked Dancer’, ‘Name That Tune’, and Fox’s New Year’s Eve Toast and Roast 2021, as well as co-produces ‘Ultimate Tag’.