Entertainment Company CFOs capitalize on Digital Growth

Earnest and Young is one of the world's leading professional services organizations, helps companies across the globe to identify and capitalize on business opportunities. In 2008 they interviewed several media & entertainment CEOs and few very few of them had anticipated where the focus of the digital revolution was transforming. In 2010 they completed a study that focused on senior media and entertainment executives by asking the Chief Financial Officers of 75 leading global media and entertainment organizations for their insight into their approach for the future and the ever changing digital world.

The study touched on several key points however I am just going to share a few with you. First, Digital is now- they have noticed that new technology continues to have an extremely powerful influence on how individuals experience entertainment and information. There is a noticeable shift to digital and is challenging old entertainment business models and causing CFOs to make changes in their investment decisions. Secondly, CFOs are trying to juggle balancing between digital growths and declining traditional media revenue. The CFOs are beginning to see a significant growth in digital revenues, however with price deflation and product un-bundling, combined with the global economic downturn, CFOs are starting to recognize a the placement of increasing pressure on traditional media revenues. All that means is that the industry revenues and “per unit spend” on different media content is no longer increasing at a rapid speed. Lastly, Interactive media companies are best positioned to thrive in the next two to three years. The CFOs have stated that they will not lose sight of doing thing traditionally, but digital earnings are definitely on a rise. The earnings are rising at lower price points and have yet to become bigger than the traditional media revenue streams.

With the shifts in consumer demands, media multi-tasking has been taken to new levels. The consumer behavior has caused the consumption rates of pure-play Internet, video games, how consumers obtain their music and how they share to soar to new levels. Although radio, broadcast networks television, and print media are showing a decline, they are also seeing there consumption rates rise. The consumption is rising due to consumers using television as a multi-tasking medium. Consumers are tweeting and blogging while watching their favorite shows.

CFOs of major entertainment companies are noticing how digital landscaping is evolving and therefore determine where they need to make their investments accordingly in order to protect their market position and ensure that they remain prevalent in the entertainment business world.


Source:

Poised for digital growth: Preserving profitability in today’s digital world

Creating a Successful Social Media Strategy

While doing some research on creating my own business strategy I came across some interesting information on creating a social media strategy that I felt would be useful for my readers. Everyone wants to be an entrepreneur these days but many are not researching the proper way to do so. Instead, they are just jumping in and wondering why it may not be working as planned. Others also try and utilize social media and to no avail fail due to the lack of proper research. I am going to share with you “Nine Steps To Your Best Social Media Strategy” with the hopes that it will help you optimize your marketability. Everyone claims to be an expert however Jim Sterne has written six books on Internet advertising, marketing, and customer service. He has collared the multifaceted world of social media in his recent book titled “Social Media Metrics”. In this book he breaks down how to create a successful social media strategy into the following nine steps.


1. Get focused and identify goals. Social media is the realm of public opinion and customer conversations. If you don’t have a clear idea of why you are there, anything you measure will be useless. He suggests you begin with the “big three” business objectives of higher revenue, reduced costs, and improved customer satisfaction.

2. Get attention and reach your audience. Measuring message delivery in social media is a lot like measuring it in classic advertising, so classic metrics apply. With social media, it is also important to identify how many people see your message as remarkable. That leads to the extra reach of word-of-mouth, commenting, and telling their friends.

3. Measure respect and find influencers. Your task now includes reaching the people who are key influencers, and understanding their impact. Therein lies the multiplier effect. Your message multiplier velocity and reach are the signals that your offerings have the right scope, spread quickly, and resonate with your target audience.

4. Track the emotional sentiment. Counting is fine, but analyzing the outpouring of millions of souls can reveal attitudinal shifts. Tracking public sentiment over time provides invaluable insight and gives you the chance to stay right on top of changes in the marketplace and your organization’s brand equity.

5. Measure customer response and action. If they read it and like it, do they click through to your web site, or engage with your organization in new and different ways? Action is when people are drawn into a profitable and sustainable relationship with your company. That’s where the money is.

6. Get the message from your customer. With the customer in control, you need to make sure you are getting the right message from the right people at the right time. That’s real-time market research, and you need to measure how well you are hearing it and acting on it in your business strategy planning.

7. Drive business outcomes and get results. Now it’s time to cycle back around to measuring what sort of business impact your efforts are having. Measure to see if you have an increase in revenue, a lowering of costs, and improvement in customer satisfaction. Then it’s time to re-examine your goals to look beyond the “big three.”

8. Get buy-in from your colleagues. Some executives are slow to understand and embrace new communications methods. Use your results to convince them that social media is a vital part of your marketing mix, and deserves the resources necessary for proper implementation and measurement.

9. Project the future. Start now to look at where social media will be in two to ten years, and prepare for it. Don’t let the changes takes your organization by surprise, or allow your organization to be the last to implement and measure you in the new world.

All are great steps to follow individually, however just like any step-by-step process in order to achieve maximum optimization you must utilize these steps together. Also keep in mind that social media is an ever-changing medium but you can never lose if you keep to the basics while continuously enhancing and learning new avenues to go down. I hope that these steps are useful in creating your social media strategy.


Source: “Nine Steps to Your Best Social Media Strategy”

New Age Distribution

Distribution has definitely changed over the past 5-10 years, primarily due to the Internet craze. Social media has grown legs and not only begun to walk but has learned to run. Through the vast outlets that the Internet has created for distribution, the ways of pitching your project to a label or distribution company have evolved. These outlets are not just limited to music, but include all aspects of distribution such as gaming, literary works, film, and of course my love, music. After careful research, I have narrowed my distribution search to a few companies that cater to the indie artist also known as the “do it your self (DIY)” artist. I have found Tunecore the most useful because of its extensive outlets where it distributes your music. It distributes to AmazonMP3, thumbplay, the Nokia Music Store, Zune, iTunes and even Rock Band just to name a few. There are 3 (three) very simple steps to sell your music through Tunecore: Upload your music, Upload your art, and Pick your stores! That’s it you are done! Simple right? It is also free to set up an account, however you do pay a fee for distribution depending on what you desire to distribute. It is $9.99/year per single or ringtone and $49.99/year per album. The beauty is that you the artist maintain ALL OF YOUR RIGHTS, receive 100% of your royalties; access to free trending sales reports, streaming media players and an exclusive iTunes artist ping page. You are probably asking why you should even chose Tunecore to distribute your music despite everything I have just stated above, well they are the LARGEST and MOST TRUSTED music distributor in the world. They are a preferred partner of all of the top digital stores in addition to their artists receive better deal terms than anyone else. The company has even partnered with Universal Music group to help get music licensed for TV shows, movies, and video games. I could continue to list the many benefits of Tunecore but that would take the fun out of you surfing the website, RIGHT? So go create your FREE account today and explore the site to decide if it is best fit for where you want to distribute your music. I have a strong feeling you will not be too disappointed.


Source: Tunecore

One-on-One with Attorney Shannon Ligon

To all that know me, know that my ultimate passion is to become an Entertainment Lawyer. I have had the pleasure of building a professional relationship with Attorney Shannon Ligon of Ligon LawGroup. No one can tell me that Twitter IS NOT AN AWESOME NETWORKING TOOL, because this is how I came to know Attorney Ligon. Since establishing a relationship via Twitter, I was instrumental in bringing Attorney Ligon to Full Sail University to speak with our Black Student Union. She was awesome and very insightful. Attorney Ligon received her Bachelor of Science in Business Management from Florida State University while spending time abroad studying International Business at the Universidad de Valencia in Valencia, Spain. She is not a stranger to the Entertainment field. She also has her certification in Television & Radio Broadcasting from CSB School of Broadcasting in 2004. Attorney Ligon has worked in the entertainment and sports industry for the past 8 years. She has been involved in management (artist & sports), A & R, as well as has numerous trusted networking contacts over the past 9+ years.

In speaking with Attorney Ligon, I became to look up to her more and more. She expressed to me the many liabilities that she had encountered while being in the entertainment business from acquiring endorsements from artists as well as athletes, copyright infringement, to ensuring that you, as the attorney, are upholding the law and your duties to your client.

While working with Richard DeLuca (Integrated Sports Management Company) her eyes were opened to endorsements deals. Having to negotiate for her clients was based off their needs as well as the needs of the companies being endorsed. She stated that Copyright infringement, can be a very “slippery slope”. Take for example, a beat was mixed and used, however the beat is not making any money, you may send a cease & desist letter rather than suing the individual. One of the ways you can ensure there is no “bad blood” or “black balling” is to consider using that individuals beats in the future. Just because someone may possibly infringe on your intellectual property doesn’t mean that you will never want to work with that person again, you just want to be either recognized for his or her work and/or compensated. Always be careful who you decide to sue, you never want to rub the “right person” the wrong way. She also stated that there are plenty times that major artists may find a beat, want to use it and can not find who originally created the beat. The producer is then not found until they possibly hear their beats on an album.

As an attorney you have a duty to uphold the law at all times, this can pose a serious liability if you are possibly working with high risk clients and/or some one who’s has limited knowledge of the business but is adamant that they are correct in different matters. It is not that you want to go against your client at all, but you are unable to go against the law you promised to uphold. When getting into any type of business make sure that you research all of the liabilities and ways to limit those. In closing, Attorney Shannon Ligon gave the Full Sail Black Student some great advice when she came to speak and I now leave it with you. “Always be excellent with whatever you do and never be afraid to lose, but never give up.”


Thank you for taking the time for my interview Shannon.

http://ligonlawgroup.com/

The Importance of Carefully Reviewing Contracts to Limit Legal Liabilities

When entering the entertainment industry you must be sure that you have the proper legal representation. Why is this important? Not only is it important for you as an artist have any run ins with the law, but it is important to ensure that all contracts that are in place have been properly reviewed. Such as contracts pertaining to touring, use of image, and/or publishing & distribution. I recently came across several articles that outlined the importance and discussed breaching of contracts in each of these ways.

Well Ne-Yo, Ginuwine, and Tyson Beckford definitely understand the importance of carefully reviewing and having a contract. Many of you might be familiar with the case Ne-Yo filed against the R. Kelly promoter (Rowe Entertainment) claiming breach of contract. If not, Ne-Yo filed a lawsuit due to his premature dismissal from R. Kelly’s “Double Up tour”. In this lawsuit he requested that he be paid even though he was released prior to the end of the tour. Rowe Ent. Then stated that the reasoning behind was not receiving a fully executed contract from Ne-Yo. In layman’s terms: there were some signatures missing and Rowe Ent. stated, "From a business perspective, it would have been extremely difficult for me to continue under this cloud of uncertainty." The tour was eventually canceled due to legalities that R. Kelly himself had.

In Ginuwine’s mid 2007 contract conflict, he filed a lawsuit against King Music Group for breach of contract, negligent representation, and fraud. In this case Ginuwine alleged that he was falsely convinced to sign a recording artist contract with King Music Group. King Music Group didn’t seem to exist however. The terms & conditions of said contract were that Ginuwine had to produce one album for the company for $1.75 million with an advance of $500,000. There was a signing between the two parties however there seems to be no listing for King Music Group nor has the artist received any financial backing. With Ginuwine being bound to the previously mentioned contract he was unable to make any records for any other companies for fear to be sued himself for a breach of contract with King Music Group.

Tyson Beckford is an internationally know model who has known for being a Sean Jean model, in his law suit he filed also for breach of contract as well as trademark infringement. Beckford claims that there was a contract between himself and Sean Jean to lend his face and image for an advertising campaign in the amount of $1.2 million. The reason the contract was deemed breached was due to all of the payments not being made. He was to receive for $300,000 payments however, only received the 1st payment, part of the 2nd, and neither of the 3rd or 4th payments. With these actions happening, the contract between Beckford and Sean Jean was said to now be null and void. Though this was so, his images were still used for the campaign.

As an artist manager, I urge our clients to ensure that they carefully review all of their contracts (especially those between them and myself). Even the most seasoned artist can fall victim to a fraudulent contract or businessperson. Not only do we have a lawyer on staff at Rising Phoenix Entertainment Group but also, we advise our clients to ensure that everything has been covered in the contracts and looked over carefully by their personal representation. After reading these articles, I personally feel that all contracts are extremely important and should never be taken lightly. You always want to make sure that all “I”s are dotted and all “t”s are crossed (i.e. Ne-Yo contract). As well as make sure you carefully research the company you are considering signing a contract with. (i.e. Ginuwine)


Sources: Music Recording Contract Fraud; Tyson Beckford Sues Diddy for Breach of Contract; Ne-Yo Sues R. Kelly Tour Promoter for Breach of Contract

10 Reasons to Buy From Independent Artists

Since becoming an Artist manager, I am realizing the benefits of remaining independent from labels.  However, when the artist chooses to be independent rather than signed with a huge label they have a few disadvantages. This article I found taught me 10 reasons on why you should buy from independent artists.  I hope that you enjoy!



1. Independent musicians can share their passion and unique talent. You can express their personal stories to follow their own instincts, and not follow orders from major label executives, whatever they need. From the perspective of the customer, by exploring free radio stations and other sources of independent music, too, are now making their own decisions on what’s hot and what’s not.

2. Many of the popular music formats dealers only offer music from major labels, and only rarely do they give everything for free, no matter how many albums you download or buy CDs. An independent artist is free to be unique and generous in its sales methods. For consumers, this may mean more quantity discounts, coupon offers and appreciation for their repeat purchases.

3. The independent musicians can communicate directly with customers, selling online does not feel like an isolating experience for the artist. Many times to get the thrill of an e-mail directly from the musicians an independent label music buyers in a devout fans spin.

4. Niche marketing is the big buzz these days, and nowhere is it more successful than in independent music. As an independent musician, you are free to create your own unique niche in the process, achieve more ideal fans. As someone who buys music from an independent label, you may find it easier, the music, and defined also expresses you to discover.

5. By buying from independent labels, musicians and customers can share the love. Look at it this way, here’s a scenario. A music lover makes a purchase. The independent musician has complete control over what reported in the thank-you message. The customer can write again. The musician, the customer can be found in his blog, mention the customer basks in the glory of the personal and shares it with all his friends on his Facebook page. Backlinks abound. Try to you on the purchase of a major label.

6. Everyone feels more authentic. A MySpace page is more authentic than a billboard. A blog is more authentic than a press release. As an independent music company with the real communication can replace you and your fans can comment on your website and get a straight answer out of you with their names.

7. In an era when many music retailers close their doors, customers can their favorite independent musicians, the music by making it available directly from the artist. Musician with a clearly defined niche and loyal, enthusiastic fans can stay through the ups and downs of the retail music industry untouched.

8. An independent musician can develop its own website presence on the basis of its own unique character and style. Fans can hang that set in a place where they can listen to music clips, to socialize, to see video performances, music buy and build on each other excitement. Everything is in one place, and they can discover a new artist or a song, your comments, bookmark the site, to make a purchase and new friends, all at the same time.

9. Musicians get a bigger cut from sales of their music. This may seem obvious, but if the customers could see that some of their favorite musicians get from major labels, they would more efforts to support independent musicians to make and buy from independent labels.

10.Indie musicians can join together to support each other and further their causes, in organizations such as Association of Independent Music, or Rock the Net, just two examples. Major record companies often restrict what their artists cannot. Consumers cannot only the music they love, they affiliate themselves with the causes they believe in.


Here are a couple independent artists that I am currently working with that I would love for you all to support. Thank you in advance for listening and supporting.







Rising Phoenix Entertainment Group PRESENTS YaZa~~STEREO
YaZa's album is available on iTunes <~~Just click HERE!!!



This is Rob Jay....

This song is very personal to me just because I grew up around so many people who were inflicted with Generational Curses and I have witnessed this affliction so closely….even being a victim of it myself. The verses are loosely based on true stories from people in my life and the last verse actually is a true story about the most important woman in the world to me……MY MOM. A woman who broke a Generational Curse and changed the future of here loved ones who would come after her. Hope you Enjoy.
-Rob Jay-

01 Generational Curse by robjay1982




Sources: 10 Reasons to Buy From Independent Artists-Articlesbase, Yaza's Youtube channel, and Rob Jay's website