The success of Shark Tank as part of ABC’s Friday night lineup has not gone unnoticed by the network. In an attempt to capitalize on the show’s success and give viewers more of what they want, ABC is planning a spinoff called Beyond the Tank.
According to a New York Times article published Thursday, a deal for Beyond the Tank is not yet final but should be announced very soon. Initial speculation was that it would be announced in conjunction with Shark Tank’s 100th episode.
Beyond the Tank would follow the entrepreneurs after their departures from the tank, and the success or failures that followed. The show shares the same production team as Shark Tank, including executive producer Mark Burnett.
Burnett told the Times, “This show is exactly what ‘Shark Tank’ fans have been asking: Tell me what happens when they walk out of the tank.”
Indeed, as The Wrap notes, apart from the updates that appear in Shark Tank episodes, viewers often know little of what happens next. The only recourse is to head to Google in a sometimes futile search for recent news on entrepreneurs.
As The Inquisitr reported earlier this summer, it is estimated two-thirds of Shark Tank deals fail to close off air. Even if entrepreneurs initially secure an investment before the cameras, it might not be finalized after the process of due diligence.
It will be interesting to see if Beyond the Tank follows not only those who get deals, but those whose deals fall through or whose companies are rejected outright by the sharks.
Shark Tank follows a format that originated in Japan as the show Dragon’s Den and has been replicated worldwide. It is a ratings hit for ABC, regularly bringing in over 7 million viewers and winning audiences in the coveted 18-49 age group.
Executives that spoke with the Times said a definite feature of Beyond the Tank will be contributions from the business people involved in the original deals. This implies the six “sharks” on the original series — the investing entrepreneurs — will have a space on the new show.
Since Shark Tank’s debut, the regular “sharks” have become media personalities and mentors to young entrepreneurs in addition to behind-the-scenes investors. Barbara Corcoran recently spoke about the advice she gives to her entrepreneurs, stating that her best entrepreneurs listen to her advice and then “do as they please.”
Shark Tank just wrapped up “Shark Week” on ABC, featuring each investor’s favorite episode. The new season of Shark Tank starts on September 26.
[Image: Shark Tank/Sony Pictures/ABC]