The Word on Wilshire

The Future of SEO

noreply@blogger.com (Kelly Sott) — Sun, 24 Jun 2012 23:29:00 +0000

I attended another live webinar hosted by SCORE this week. The first, "How to Really Start Your Own Business", I discussed in a post called "The Components of a Successful Business Plan". This most recent session was titled "SEO Basics: Helping Your Customers Find Your Business Online", and was presented by Charle-John Cafiero of CJC Strategists and Alexandra Gebhardt of Human 1.0.

I was somewhat reluctant to participate in this workshop considering I recently completed a graduate course on digital marketing in which much of the focus was on search engine optimization, otherwise known as SEO. And considering the webinar was titled “SEO Basics”, I naively assumed I must know everything the instructors were going to cover and it would be a waste of my time. However, I was extremely grateful that I took the initiative to give it a shot, because what was confirmed is that there is nothing “basic” about SEO whatsoever.

It is important to remember that the Internet is always changing. Obviously there is an infinite amount of new content added every second, but it’s not just the content that is changing the Internet- it’s the way we interact with the content, how the content interacts with us, and how we interact with each other. The Internet has evolved from Web 1.0, to Web 2.0, and now into Web 3.0. Basically we went from just reading things online; to being able to add things online; to the Internet learning to understand what we add, allowing it to deliver personalized relevant content- interacting with us individually. It’s basically artificial intelligence coming to life.

Screenshot from SCORE webinar "SEO Basics" June 21, 2012

When performing a Google search, for example, the most similar or most popular matches will be listed in order, called the search engine results page, or SERP. Obviously it is beneficial for a website to appear at the top of the first page, because the majority of people will choose to visit those pages before they choose a page ranked 82,000^th (or even 10^th, for that matter).

What many people don’t know, is that these results are calculated by mathematical calculations called algorithms that determine each webpage’s rank. So, people try to strategically increase their website’s rank by increasing all of the factors these algorithms look for, such as keywords in titles and descriptions; and the number of back-links, which are links to that website from an outside page.

For everyone who thought they had search engine optimization down, focusing on increasing the criteria that determine how popular a certain page is, you better reevaluate your approach, because it’s all changing- constantly, quickly, and drastically. Due to the evolution to Web 3.0, search engine algorithms are now placing importance on different measures than ever before. Because social networking has become so dominant, naturally, how websites utilize social media and are mentioned through social media are major new factors in determining a page’s rank.

A second factor that is now extremely important is consistency. Search engines have begun to scour the Internet to determine if information related to a certain website or company is the same, no matter where this information is found. For instance, if a company places its contact information on its own site, a Yellow Pages site, and in a local online business directory, but has a different phone number, physical address, or web address on each, the company’s website and the company itself will lose credibility according to the new rankings, dropping its listing in the search results.

Because of all of the spam and computer-generated “chatter”, and because the Internet is now able to “understand” if things are genuine, even if a website has more back-links than any of its competitors, but these back-links aren’t shared from established and respected sources, that site’s rank is going to drop as well. And thinking that having more keywords, even if a title, sentence, or description doesn’t make sense, won’t work anymore either. The Internet’s artificial intelligence seems to be much more intelligent than for what most people are giving it credit.

Long story short, staying on top of your website, tracking its ranking and search results for various, related keywords, is still not only recommended, but essential to maintain your business’ visibility and not be lost amongst competitors. I’ll leave you with several other pieces of advice:

· Constantly work to get your postings shared. Make your postings appealing enough that people will want to pass them along.

· Get reviews. The more people talking about your business, the better.

· Include local contact information like your area code and zip code so that your business will be listed in local searches and in local search directories.

· Maintain a blog. Alexandra Gebhardt, one of the moderators of today’s webinar, actually believes companies should move away from websites altogether and simply focus on a blog. Personally, I think that move is too bold still, but she may be onto something. I guess we’ll have to wait and see. However, she is the expert.

· Keep a database of all of the information you have shared online, so that you are aware of who has what. That way, if you do change your number or some piece of information, you know where to go to change it everywhere it is listed. Remember, consistency is key!

· Popularize yourself on Facebook- not your personal page, but an official business page.

· Develop a keyword plan. Do research to determine which keywords work best for your marketing niche. Some keywords may be too generic and not worth competing for. Optimizing your site for specific keywords will guarantee you success in increasing your page’s rank.

· Never become complacent. Just as the Internet and search engine algorithms are always changing, so too must your approach to staying at the top of the SERP.

I highly recommend watching the archived webinar on SEO Basics. I’m sure you will find that the “basics” are pretty complex, just as I did. Never think you are on top of things, because by the time you adjust to something new, something newer is probably already in the mix. But try not to get overwhelmed. There are always workshops, articles, and experts to learn from. Everyone is in the same boat, so whoever wants it more, will put in the work to make it happen. Is that going to be you?

From Book to Bank: How To Get Funding for a Business Plan

noreply@blogger.com (Kelly Sott) — Mon, 11 Jun 2012 03:43:00 +0000

In an effort to continue along the same path as my last few posts, I decided I would discuss what happens after you finish your business plan. What now?

So, you come up with a great idea, you do tons of research, determine there is definitely a market for your business and you know you can make money if you pursue it, but there is one major obstacle blocking your way to success- you don’t have the capital to get your business off the ground. It’s like the old saying: It takes money to make money. And, unfortunately it happens to be true in most cases.

I decided I would take out some of the guess work, and would share with you some basic information about a few websites I think someone in your position may find extremely helpful. In addition to organizations like the Small Business Administration, Inc., and the National Venture Capital Association, which are all nationally recognized and are geared toward assisting entrepreneurs, there are also countless other resources which are available to small business owners and for those wishing to get their idea off the ground. You would think that it’s a dog-eat-dog world and that every man would be out for himself, but to my surprise, I have realized that entrepreneurs have come together to share their knowledge and experiences in order to help those who come behind them.

The U.S. Economic Development Administration is a government website that offers federal funding. This organization seems to strongly consider a business’ location when determining if it is grant worthy. The EDA feels that creating a solid presence of stable and flourishing businesses by region is going to help the U.S. and global economy as a whole. They focus on long-term regional economic redevelopment, offering grants and funding to higher education institutions and to those affected by natural disasters, for example.

The Coalition of Community Development Financial Institutions also considers a business’ location. This organization works to serve as the voice of the underprivileged and to make sure that funding is equally available for the less fortunate as it is for anyone else.

Finally, the National Federation of Community Development Credit Unions is another organization whose goal is to assist those in low income communities who would otherwise have a difficult time receiving funding and loans.

All three of these organizations collect money from other institutions to help support the businesses seeking funding. My point is that even if you are discouraged because you feel as if you are in a bad part of town or that your credit isn’t good enough, there is hope and there is help.

My parting advice to you would be to get involved. Embrace all of the organizations and volunteers and local, national, and online resources, which have been created to help you tackle this venture that can undoubtedly prove to be overwhelming at one point or another. What I have learned is that there is a huge ___ to help you along every step of the way. Take advantage of it. Sign up for newsletters and subscribe to blogs- the more you read, the more you learn, and the more knowledge you’ll have to pull from when making your business as successful as you can envision it.

Good luck!

Seasoned Advice about Writing a Business Plan

noreply@blogger.com (Kelly Sott) — Mon, 28 May 2012 02:15:00 +0000

I am hardly an expert on writing business plans, but I have spent a considerable amount of time and effort researching those who are. For instance, John Meyer, Julie Brander, and Steve Bloom recently discussed how to start a small business and the importance of a creating a solid business plan, during a webinar I attended that was hosted by SCORE. A brief background of each of these speakers, as well as a synopsis of what they had to say can be found in my last posting, titled The Components of a Successful Business Plan.

While researching business plans, I have since collected more information about:

· how to write them,

· what to include,

· what investors look for, and

· what sections are most important.

The advice I gathered from countless sources, in addition to the guidance from my current Business Plan Development professors at Full Sail University, Mike Koch and Steve Burhoe, have helped me construct and modify a business plan I am in the process of completing. I thought I’d share some of the highlights of this advice with you.

MANAGEMENT SECTION

What struck me as the most surprising, is that investors are many times most extremely concerned with the Management section of a business plan. In fact Planigent, a company that writes and modifies business plans for its clients, says:

many Venture Capitalists will admit “they would sooner back a good idea with great management, than a great idea with only so-so management.”

In fact, it was the realization that my management better be experienced, have proven results, and be knowledgeable about the industry of my future business, that forced me to completely change the structure of my company so that I could include notable and established people in business and in the industry.

It’s important to note that entrepreneurs with a great idea but no experience shouldn’t be completely discouraged. Find ways to include key personnel, even if they aren’t going to be full-time or on your payroll at all. Recruit mentors, volunteers, and professionals who have excellent credentials. Make sure you mention anyone noteworthy who will be involved in any way- even just as a member of your Board of Directors or as an informal advisor. Assuring investors that you have key people around you who will guide you to success is key.

EXECUTIVE SUMMARY

I don’t believe there was anything I read or anyone I found who said anything other than that the Executive Summary is THE most important part of a business plan, by far. The Executive Summary is like a business plan within a business plan. What I’ve learned, is that investors are busy people. They are inundated with hundreds of business plans. They don’t have time to sit down and read hundreds of pages of hundreds of plans. The Executive Summary is a summation of all of the absolutely critical points in the entire proposal. It has to function as a way to pull investors in. If you are able to spark an interest from your Executive Summary, you’ll have a much better chance at enticing an investor to read more.

What I have also learned, is that although the Executive Summary is the first section of a business plan, it should be the last section to write. MasterPlans, another business plan writing company, explains that the Executive Summary cannot be properly developed until you develop the remainder of your business plan. This section should ideally only be 1-2 pages, and should highlight all of the key pieces of information from every other section that you want an investor to know. Writing concisely is crucial. It is much more difficult to write something brief, than it is to be verbose.

COMPETITION and RISKS

Although you would think that an investor wants to hear that your business has no competition- there’s nothing like it- and also that there are no potential obstacles your company may face, you are dead wrong. Investors want to know that you have done your homework. Understanding who your competition is, shows that you know who your target market and customers will be. And analyzing setbacks you may encounter, proves you have thought about what could happen and how you will address it if it does. Trying to pretend that you face no future problems makes it seem as if you are extremely naïve and not prepared to run a business, or that you are not being straightforward and truthful with the investors. If they don’t trust what you have to say in the business plan, they are never going to trust that you’ll return them their money.

OTHER THINGS TO CONSIDER:

· Constantly tweak your business plan. It is NEVER completed! Things change every day and you have to account for that in your plan.

· Proofread! If your plan has mistakes, it’s a bad reflection on you. In the eyes of investors, if you are careless with your plan, you will be careless with your company.

· Make your plan stand out. Because you are competing for the attention of these investors, do something above and beyond to set your plan apart from the rest.

· Prove to investors that they will get their money back. Focus on the financials- how much money will be made and how will money be spent- as well as on industry trends. Make sure there’s a current and future need for your business.

If you would like additional information on business startups and writing a business plan, here are some free resources to utilize:

· Free courses offered by the U.S. Small Business Administration about how to start a business.

· Links to valuable business plan research.

· Weekly newsletter of Venture Capital News Digest.

· Business planning resources by BPlans.

In addition, there is a substantial amount of information on the Internet, including business plan templates and advice, by simply performing a search for “Business Plans”.

Good luck!

The Components of a Successful Business Plan

noreply@blogger.com (Kelly Sott) — Tue, 01 May 2012 19:17:00 +0000

It is the era of the entrepreneur. Never before have more people taken on new business ventures, or have been so supported and encouraged to do so.

This morning I attended a live webinar called, “How to Really Start Your Own Business”, hosted by SCORE, “a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship”.

The session was presented by 3 business professionals: John Meyer, Julie Brander, and Steve Bloom; all of whom are SCORE mentors.

· Mr. Meyer works for The Company Corporation, and is a small business expert. The Company Corporation counsels small business owners, and helps them file all of their legal paperwork when starting a business.

· Mrs. Brander has over 20 years of experience as a small business owner, and has started numerous small businesses in an array of industries.

· Finally, Mr. Bloom is an entrepreneur who teaches classes on small business startup and how to formulate a successful business plan.

In much of today’s webinar, the presenters discussed the importance of creating a successful business plan, and the most significant aspects of it. Because business plans are such detailed documents, we only scratched the surface today. However, the mentors agreed on several key components:

· Make sure it’s clear. If an investor doesn’t understand your concept, why would he or she invest in it?

· You must prove your business is unique, and that there is a need for it. Include extensive data on your competitors, noting their strengths and weaknesses, and how and what you plan to learn from them.

· No mistakes! If potential investors see typos, your plan will go to the bottom of the pile… or in the trash can.

· Make sure it’s personalized. Make your business plan stand out from the rest. Demonstrate your fire and passion!

· Pay attention to the Executive Summary section. This section is the most important, because you need to give an investor a clear understanding and picture of what you are trying to accomplish. If you are able to captivate an investor by reading the Executive Summary, you’ll entice them to read more.

· Make sure you surround yourself with good people. Investors want to know that the business is in the hands of professionals with proven experience.

· Make your plan a living, breathing document. Steve Bloom completed 5 business plans in 2 years for the same company!

· Show you are an expert. Read everything you can and learn everything there is to know about your industry and convey that knowledge in your business plan.

· Prove that your company is a good investment. Investors want to know they are going to make money, so discuss industry trends and include detailed financials about the company and how it is projected to grow over time. Also discuss how you plan to utilize their money.

· Do the research. Know the facts inside and out, and include as much pertinent information as possible. Include an appendix that contains all supporting documents.

· Follow advice! If investors have suggestions or recommendations, listen to them!

I found today’s webinar to be extremely informative. Most importantly, I learned that there are plenty of resources to help you turn your dream into a reality, so don’t let insecurity or lack of knowledge hold you back. There are people to help.

In addition to free mentor advice from SCORE, The Company Corporation also provides guidance. Finally, please visit: www.bplans.com to view sample business plans.

Here is a short video about the benefits and services of using SCORE:

You can find contact information for these services below.

The Company Corporation helps small business owners form their businesses.

www.incorporate.com

800.818.6082

SCORE provides over 13,000 mentors and has 364 local chapters throughout the United States.

www.score.org

800.634.0245

Just do it! Good luck!!!

Who Decides which Trailers to Show Before a Movie?

noreply@blogger.com (Kelly Sott) — Mon, 23 Apr 2012 02:46:00 +0000

News broke today that a third trailer for Warner Bros.’ The Dark Knight Rises, of Batman heritage, will be shown prior to DC Comics/Marvel’s The Avengers, which debuts May 4th. Because these films are from different studios, it made me wonder who decides which trailers are going to be paired with, and shown before, which films. I did a little digging to find out.

There are numerous forums that discuss this very issue. Although I did find some conflicting answers, the best answer I found said that usually one or two trailers are attached to a particular film, and are often shown immediately preceding the feature. Most of the time, these attached trailers are from the same studio, so that they can promote one of their own movies due to be released in the near future, although sometimes that isn’t the case. Obviously, that won’t be the case with TDKR’s trailer being shown before The Avengers. A Warner Bros.’ executive told Deadline's Nikke Finke , “We see this placement as a good strategic decision. We always want our trailers to be seen with films that people want to see — and a lot of people will be going to The Avengers!”

The other trailers shown are chosen by each theater. Therefore, most of the time, if you happen to see the same movie at two different locations, you’ll end up seeing a least a few different trailers before it.

Just to be safe, I wanted to confirm these answers with noteworthy and reputable news sources (no offense to the forum contributors, of course!). The answer wasn’t by any means littered all over the web. I had to really search. But, the information I gathered did support my earlier findings.

A lot goes in to deciding which trailers to show before a movie. The studio releasing the film typically has rights to two of these slots and theater executives, in consultation with other executives from other studios, select the remaining previews. They usually try to select previews that target the audience in the theater at that time. Therefore, they are more inclined to choose romantic comedies to precede a romantic comedy, figuring if the viewers were inclined to buy tickets for the feature film, they will have a better chance of showing interest in an upcoming movie of similar nature than a 10-year old boy would, for example.

The Hollywood Reporter released an article a few years back that says studios basically now bribe theaters to play their trailers. If theater operators are being paid to play certain trailers, why wouldn’t they want to play as many as they possibly can?

It seems as if it’s the general consensus that more and more trailers are shown before movies these days. Now it makes sense why. In fact, in the article, the National Association of Theatre Owners’ president, John Fithian, said, “We're seeing an increased pressure to play trailers, but there is a limit to what the patron can take in and retain. Playing trailers does help both distribution and exhibition, so it's important to get it right." Despite this pressure, NATO doesn't dictate rules to its members on trailer numbers, although they do pose strict restrictions on trailer length- a trailer can only be 2 ½ minutes long.

Studios and theaters manage to shock or outrage their audiences, however, if they are not careful and don’t follow the Motion Picture Association of America guidelines. Although most previews are edited for content so they are appropriate for audiences of all ages, sometimes there is an oversight, which causes an uproar.

For instance, Warner Bros. hastily attached a raunchy trailer for The Hangover Part II to PG-13 The Source Code, forcing them to immediately pull the trailer from screens once the error was realized. Just in February, a London theater accidentally screened trailers for The Devil Inside and Ghost Rider: Spirit of Vengeance before a cinema packed with children and parents to see Puss in Boots. Although theaters overseas follow different guidelines, they are similar to that of the MPAA, so such an oversight proved understandably traumatic to all parties involved. A similar mistake could easily happen here, and I’m sure it has- on more occasions than one.

Red-band trailers are once again becoming the norm, at least on the Internet, and all cinemas are likely to follow. Regal Entertainment Group decided to start screening red-band trailers, trailers with R-rated content, again, despite a temporary lapse by exhibitors and studios alike. However, since Internet viewers have found these trailers to be accepted and enticing, cinemas are beginning to follow suit. Anything that helps bring an audience to watch a film is going to done by both the movie makers and the movie players.

All-in-all, movie marketing and advertising seems to be a much more intense and important strategy than I ever realized. Next time I’m sitting in a theater, I know I will definitely be paying attention to the trailers, as I always do, just for more reasons. Although it’s obviously not an exact science, the more correlations I can make between trailers and films, the more I hope to understand the reasoning behind why exhibitors and studios selected the trailers they did.

But, I guess I really don’t have to go to the movies to determine the reasoning behind the pairings. The answer that really lies beneath, just as with so many other things, is money, which stems from exposure and power.

Can 'Fashion Star' Really Find Fashion's Next Star?

noreply@blogger.com (Kelly Sott) — Mon, 02 Apr 2012 01:39:00 +0000

Currently I am studying digital marketing, which has opened my eyes to the evolution of companies using traditional marketing methods, to relying heavily, or even solely, on the digital landscape. Social networks and interactive websites are taking over and executives know it. In order to reach the masses these days, a strong online presence is the way to go.

Ironically enough, there is a new show, just three episodes broadcast so far, called Fashion Star, which, in a way, is going against the digital marketing trend. Fashion Star is a reality competition on NBC, in which designers create looks every week which are presented to buyers from Saks Fifth Avenue, Macy’s, and H&M. The buyers decide, on the spot, whether or not to bid for each item of clothing. If a buyer purchases a garment, that garment will be available to the public online immediately following the show, or in that buyer’s store the next day. Instead of relying on viewers’ votes- phone calls, texts, tweets, or online, Ben Silverman, one of the producers of the show, has gone old school, according to David Knowles of The Hollywood Reporter, by taking the tech out of the scenario. See it, like it, buy it the next day.

Property of NBC

However, I disagree with Knowles to some degree, because although, yes, the way this show is structured, clothing that airs one day can be bought off the rack the next, each of the stores, Saks Fifth Avenue, Macy's, and H&M all have portions of their websites devoted entirely to the Fashion Star series. Consumers don’t have to wait until the next day to purchase the items. They don’t have to drive to the store, find the clothes, and wait in line. They can order the clothes online, right from their living room, and can do so the night the episode airs. So, once again, the technology craze has given us just one more thing we don’t have to wait for and be patient about. I don’t know if it’s a good thing or a bad thing, but it’s definitely a fun thing.

As you can see in this video, Fashion Star is something that has never been done before.

So, although Silverman might have taken an “old school” approach, digital marketing is still present from every angle. Not only is there a Fashion Star website, www.nbc.com/fashion-star, which has pictures, bios, videos, and even interactive games; in addition to portions of Saks’, Macy’s, and H&M’s websites dedicated to the show; but viewers can also visit Fashion Star’s Facebook page, follow the show on Twitter, and post to NBC message boards.

The show hasn’t attracted many viewers, which leads me to wonder if it’s going to last. Although there are definitely some bugs that need to be ironed out, as discussed in this Huffington Post article, personally, I think the show is innovative and quite interesting. It allows viewers to see at least a portion of the business side of fashion, which is something Project Runway, the long-running reality show about fashion designers now on Lifetime, doesn’t cover. Fashion Star’s designers are introduced to different branding exercises each week. Unfortunately, most of the behind-the-scenes and preparation for the runway show isn’t highlighted, which leaves a lot viewers, including myself, disappointed and expecting more. At least we have all of the social networking sites on which to vent our frustration.

All in all, Fashion Star is yet another reality competition which has captivated my interest. Because all of the episodes were taped in advance in order to give the stores time to manufacture the purchased items and make them available to the public the night the show airs, most likely there won’t be any changes until next season…if there is one. Either way, because of my Entertainment Business degree, I have been able to find ways to validate this guilty pleasure by applying many of the topics we’ve covered in class. If I happen to purchase some of the items designed, I’ll chalk it off as a “learning experience”.

Print-on-Demand: Publish Conservatively

noreply@blogger.com (Kelly Sott) — Mon, 19 Mar 2012 03:38:00 +0000

Apparently I’ve had my head in the clouds. I have recently been introduced, through my Media Publishing and Distribution graduate course, to the world of print-on-demand. What a groundbreaking, revolutionary concept! I’m ashamed to say I wasn’t aware of its existence, but I’m ecstatic it does. For those of you who are unfamiliar with the term (I hope I am not the only one out there), print-on-demand services, otherwise known as PODs, offer exactly that- printing on demand. When a book goes to print, a publisher normally requires a certain number be manufactured in order to make the job more “worthwhile”. Also, as more copies are printed, the price per book is reduced, so technically, people think they are getting a bargain when they have extra copies made. However, what many people fail to realize, is that most of these copies are never bought. They are printed, and then sent to a warehouse to collect dust, until eventually, like an abandoned toy, the books are thrown away or destroyed. What does this mean for the environment? Well, it’s not good.

Think about all of the unnecessary trees that are cut down and turned into pulp in order to produce these books that are never even opened and read. Think about all of the energy it takes to run the printing machines and the energy consumed and pollution produced from the factories, as well the gas and emissions of delivery vehicles. And think about all of the books out there. For every book in existence, the majority of copies are most certainly not in use. Even for people who purchase books, how many times are they read before they are put on a shelf amongst all of the others?

Print-on-demand services are going, and have begun, to revolutionize the printing industry. Now, not only are these services allowing many writers to self-publish, meaning they don’t have to have their work “picked up” by a publishing company who often buys the rights to the manuscript and then publishes and sells it as it pleases, but they also only print copies of the book as needed. When someone places an order or purchases a copy, the print-on-demand company makes a copy for that buyer. Books are made as they are needed. And you can sell your books electronically through these services as well, which opens up the market to even more perspective buyers.

There are many PODs currently available. Many are very similar, yet many offer certain perks or services that others do not. So, when researching potential companies, it is important you choose the right fit for you. Some, like CreateSpace, an Amazon company, are larger and more powerful. Obviously working with Amazon, you have the ability to utilize its customer base and distribution channels. Others, are smaller.

Xlibris is a pioneer in the industry and has published over 25,000 authors. I was exploring their services and entered my name, email address, and phone number, in order to receive a free publishing kit. The following day, I received a call from one of the Xlibris representatives, who was interested in learning more about my book, and wanted to know how she could help get me published. My point is, is that anyone out there who may be working on a manuscript, or even who has an idea but has been reluctant to pursue it, there are user-friendly services available to assist you every step of the way. I encourage everyone to follow their dreams. You never know- you may very well have a bestseller on your hands or in your head. But, with the advent of PODs, that idea can soon be on paper, and in possession of those who order it- not in boxes in your basement, or warehouses, or a landfill.

And these services don’t just apply to writers and books. Musicians, filmmakers, and business owners can cash in on PODs as well. Riverside Graphics Corporation created and follows a Conservation by Design initiative, which is a 5-step conservation strategy to reduce waste and to recycle what’s left. They use recycled stock paper for their printing and only print what’s needed- nothing more. Next time you have to print a company brochure or anything in large quantities, think first before you place your order. There are more and more companies every day that can, and will, cater to your needs and the needs of the environment. So, two things to take away from this article: follow your dreams, but do so efficiently.

Similar Movies, Similar Plot, Same Time?

noreply@blogger.com (Kelly Sott) — Mon, 19 Mar 2012 01:48:00 +0000

In a class discussion recently, a fellow student raised the question as to whether we thought movies are released in a strategic fashion. I decided to do a little investigating and found the answer to be without a doubt, absolutely…at least sometimes. There are countless forums, blog posts, and articles, which discuss this topic, and some of the commentators have really interesting takes. Obviously, each particular circumstance has its own chain of events which influence why a certain film is made and when. Some movies are rushed into production, while other movies bounce from desk to desk for years until any progress is made. And this bouncing from desk to desk and studio to studio could be a major contributing factor in itself. The more people who read a plot, the more people inspired and influenced by that plot. A studio may choose to pass on a particular script, but may inherently like the idea, so decide to tweak some details and call it their own- a major reason why most screenwriters need to be represented by agents: to alleviate a lot of the “you stole my idea” drama.

It definitely seems as if movies, or similar movies I should say, come in waves. Sometimes it seems that if one movie is extremely successful, all of a sudden, other people want to jump on that bandwagon. Think about the explosion of vampire movies after Twilight mania. As of May, there were at least 10 new vampire movies in the making. The same even holds true for television shows. Think Glee/Smash, American Idol/The Voice/X Factor, So You Think You Can Dance/Dancing with the Stars.

However, there is also a race to make movies with the same concept, even before a pioneering movie has paved the way for success. Recently, there were two different movies being made simultaneously about Snow White, with Lily Collins playing the lead in Mirror Mirror, which just came out March 16th, and Kristen Stewart playing the lead in Snow White and the Huntsman, due to be released June 1st. There are, and will continue to be, tons of comparisons made between the two pictures. The anticipation of paralleling the two films really helps advertise and hype each individually, and has begun to do so already, because they are based on the same fairy tale. Apparently each is very different from the other, telling the story in completely distinctive ways. Regardless, the media frenzy is definitely going to help both films cash in at the box office.

Here are two links to websites that list movies which were released around the same time about the same topic. There are a lot more than I realized!

http://tvtropes.org/pmwiki/pmwiki.php/Main/DuelingMovies

http://en.m.wikipedia.org/wiki/User:ProhibitOnions/List_of_films_with_similar_themes_and_release_dates

I’m sure now I will be paying closer attention to movies in production and movie releases, and will notice more and more of a strategy and trend as to when and why a movie gets the green light when it does, after having done this research. Movies have the potential to generate enormous sums of money, which justifies all of the strategizing, competing, and racing through production and release. If public acceptance and approval was an exact science, all films would be major blockbusters and everyone would profit. But for now, while all anyone can do is speculate, I’m sure the trends and the rivalries will continue, so stay tuned.

Interview with Kenneth E. Carraway, an Entertainment Attorney

noreply@blogger.com (Kelly Sott) — Mon, 27 Feb 2012 04:11:00 +0000

As my time in graduate school comes to an end, I find myself needing to make preparations to dive back into “the real world” for the second time around. If you haven’t read my bio (shame on you!), after I receiving my Bachelor of Science in Biology from Villanova University, I spent about 12 years working, traveling, moving from place to place, trying to “find myself” and my true passions. Through lots of trial and error, I realized I wanted to do a 180 and pursue a career in the entertainment industry. Because my undergraduate studies were in a completely different field, I knew that going back to school was the way to go. After serious consideration, I chose Full Sail University’s Entertainment Business Master of Science program, in the hopes that this degree will leave me with more than a $100,000 sheet of paper with my name on it (although I look forward to getting that too!).

One of the facets I absolutely love best about my degree program, is how the curriculum and assignments are focused entirely on real-life and real-world practical application, specially tailored to my future business endeavors. As I have written in earlier posts, networking with professionals in the industry can be incredibly useful, as contacts can be called upon for advice and favors in order to help further achieve one’s goals.

In my last post, I discussed the importance of registering intellectual property, by filing for trademarks and copyrights, for example, in order to protect businesses and their owners from legal liability and so that no one else can use the registered ideas for their own personal gain. I recently reached out to an entertainment lawyer named Ken Carraway, whose practice focuses on Business & Arts Law, in the hopes of gaining some professional and legal insight as to what he feels is most important when starting a small business. Carraway Law represents businesses throughout the life cycle – from entrepreneurs with start-up issues, to seasoned business owners in need of succession planning. The law office focuses in business formation, contract and licensing matters, and consultation services for a sustainable business model, with a strong concentration on intellectual property issues.

Kenneth E. Carraway is a graduate of Villanova University Law School, and being that I received my undergraduate degree from Villanova and the fact that his areas of practice fit seamlessly with my business plan, I asked if he could answer a few questions for me and to share some of his opinions as to how I, or anyone in my position, should go about turning a business plan into a reality. I decided to share with you some of our conversation.

I came to Ken as a prospective client, hypothetically of course, seeking legal counsel about how I should go about starting a business, and the steps necessary to get this business off of the ground. He wanted to clarify that all my questions were of the “it depends” variety (meaning that the answer would vary for each question under differing facts), so it was difficult for him to arrive at answers that were very specific. Therefore, he generalized his responses as best has he could. In addition, he also added this DISCLAIMER: These answers are for informational purposes only for the purposes of a student assignment. It is not intended as specific legal advice regarding your questions. This does not establish an attorney client relationship.

So, here we go:

Is legal counsel recommended or required?

While it is not required that someone forming a business seek legal, I would highly recommend that they do so. Seeking legal counsel may help someone avoid some of the pitfalls that they may face in starting up their business. It’s different for everyone. Elementary questions one should ask when starting a business come to mind: Is this a sole proprietorship or a partnership? Do I need a business agreement? What kind of business entity is best for my business? Are there any regulatory or insurance requirements of which I should be aware? How will I be taxed? How do I protect my business name?

All of these questions, and many others, can be answered by engaging the services of an attorney.

How much money would such representation cost?

This varies, and may be dependent on the complexity of the business one is forming. One may find some attorneys that will charge an hourly rate for these services, while others may do it for a flat fee, or a mixture of both.

How much money is required to file all necessary paperwork and registrations?

Again this is dependent on the type of business and choice of entity.

How much time does completing all of these steps take?

For a small business without any regulatory issues, the process of setting up a business entity can be done fairly quickly. While a more complex corporate setup or non-profit may take several weeks or months.

Can a business start functioning before all of the necessary filings are

completed?

Generally, the short answer to this question is yes. But again it depends on the individual business, and a consultation with an attorney is a must if someone is considering this option.

As an attorney, do you offer your opinion and suggestions so as to help

entrepreneurs with their business ventures, or do you simply act on behalf of the client?

Both. An attorney will assist someone forming a business in navigating the various legal issues and may lend some non-legal advice in the form of counsel as well. Strictly speaking, a lawyer is his or her client’s advocate and will act on behalf of the client, but they obviously cannot be complicit in illegal or unethical acts and should advise their client accordingly.

Anything essential to launch a business?

A pulse. But to be successful? Tenacity.

As you can see, there definitely doesn’t seem to be any straight-forward, easy-to-follow instructions that anyone and everyone can follow in order to successfully launch a business. I am realizing more and more that there are many individual facets that need to be addressed, many of which I would have never even been aware, hadn’t it been for my professors or for talking to professionals in the field such as Ken Carraway. As much as I have learned thus far in Entertainment Business, I realize that for everything I do know, there is much more I do not. Therefore, seeking the advice of legal counsel and other seasoned professionals will only strengthen my chances of successfully launching and running a business of my own.

From Mr. Carraway’s responses, I have learned that you must be meticulous in completing all requirements, and must make sure to think every step through. A business cannot be up and running in a day. Therefore, patience is key. It is much smarter to take your time and to make sure that every minor detail has been addressed, versus rushing to open a business and then suffering from your carelessness down the line. Although consulting an attorney will cost money, most or all of which many individuals starting a business may not have readily available, in my opinion, legal representation is well worth the investment. You have someone on your side, who is much more knowledgeable and experienced than you, acting to protect you and your business from any legal ramifications. Pride must be swallowed. Ask for help. Naively thinking you know what you’re doing will just lead you blindly down an un-navigated path.

Ken Carraway’s responses made me realize how overwhelming and intimidating starting a business can be. However, he has inspired me in more ways than one. Mr. Carraway says that although anyone may be able to start a business, in order to be successful, you must be tenacious. In my opinion, the ultimate way to be tenacious is to fight for something you love. If you are gutsy enough to take chances and to try to make it in business on your own, you must have total confidence in yourself and in your business plan.

Although this interview did not establish an attorney client relationship between Ken Carraway and me, Ken’s openness and willingness to help me has made me respect him as a professional and to value his opinion. Especially in business relationships, trust is key. If you are fortunate enough to come across a genuine individual, latch on. As much as I’d prefer to continue seeking advice for free, my time in “the real world” is inevitable. Hopefully this interview can serve as the foundation to a budding professional relationship, as I admire and respect Ken Carraway, and would be privileged to have my business represented by his firm.

Kenneth E. Carraway

Carraway Law

1379 Dilworthtown Crossing, #115

West Chester, PA 19382

Phone: 610-572-2821

Website: www.kencarraway.com

Email: ken@kencarraway.com

Protect, Protect, Protect!

noreply@blogger.com (Kelly Sott) — Thu, 09 Feb 2012 20:00:00 +0000

Currently I am studying Entertainment Law and have recently been focusing on various liabilities that affect the industry. What I consider to be probably the most overwhelming legal topic, is the fact that you can be sued for pretty much anything and everything. So, with that in mind, I decided I would discuss a few examples of recent incidents that prove my point, and why it is essential for artists, producers, and everyone in between, to protect their ideas, their deals, and themselves. What do reality TV, the Batmobile, and the movie One Shot starring Tom Cruise, all have in common? They are all currently the center of lawsuits trying to determine who has the rights to what. Let me explain.

Reality TV

A hobby of mine, which will someday be an official and successful business venture, is developing reality television shows, so this case hits close to home. An Australian named Paul Thayil decided to sue a laundry list of networks, companies, and individuals, including Fox, NBC, Sony, EMI, Simon Cowell, Nigel Lythgoe, and Simon Fuller, the creator of American Idol, because he felt that his ideas were stolen and ultimately used as the basis for various reality shows including American Idol, So You Think You Can Dance, Dancing with the Stars, and America’s Got Talent. He claims he developed similar ideas about 15 years ago and tried to pitch several shows to a few people in Australia, but nothing ever came of it. Unfortunately for his sake, when Thayil tried to convince a New York Federal Judge of this claim, he had no proof of ever copyrighting his ideas, so basically, he’s out of luck. Regardless of whether he’s telling the truth, with no evidence of having protected his plans with copyrights, he’s got no grounds to stand on. The lesson? If you have an idea you think is original and potentially valuable, and you don’t want to see someone down the line profiting off that idea that isn’t you, filing a copyright through the United States Patent and Copyright Office is the way to go.

The Batmobile

Another recent instance involving copyright infringement concerns the infamous Batmobile, the widely recognizable car driven by non other than Batman himself (oh, and Justin Beiber, but we’ll get to that in a minute). Just last month, a judge ruled that the Batmobile is eligible and protected by copyright. DC Comics, owner of all things Batman, sued a car dealer named Mark Towles, for selling imitation batmobiles out of his “Gotham Garage”. The sticky part of this lawsuit came when determining why, when other cars can’t be protected under copyright because they are considered “useful articles” under the Copyright Act, but the Batmobile can. The answer? Because according to United States District Judge Ronald Lew, who presided over the case, the Batmobile “grants copyright protection to nonfunctional, artistic elements of an automobile design that can be physically or conceptually separated from the automobile.” Therefore, Towles finds himself in hot water. And also as a result of the judge’s decision, so does Justin Beiber. Beiber had a CTS-V Cadillac Coupe transformed into a Batmobile of his own, which means that technically, Beiber could be sued by DC Comics for copyright infringement next. He should probably get his legal team on that. What’s the lesson here? Same as above, except this time, we see how taking the time to copyright an idea can put you in the driver’s seat, no pun intended!

One Shot

Finally, we have One Shot, and the resulting legal battle that ultimately ensues. Last week, two producers of the thriller were sued by a third producer for due credit and “rightful share of the compensation” they stand to make off the potential franchise. Don Granger and Gary Levinshon, along with their Mutual Film Company, are named defendants in a suit filed by Kevin Messick. Messick claims the three producers entered into an agreement to develop the film together. The problem is, that although Messick worked for more than half a decade on making this film come to life, all of his agreements with Granger and Levinshon were in good faith. So, yes, Granger and Levinshon did axe Messick out. That accusation is not in question. What is in question, is whether Messick is due the equal credit and equal compensation he says he was promised. Although Messick’s lawyers are filing suit alleging “breach of contract, breach of covenant of good faith and fair dealing, breach of fiduciary duty, fraud, promissory estoppel and unjust enrichment”, most of which I have yet to, or will likely never, learn and understand what they mean, what I can gather is this: If Messick would have forced the duo to sign a contract, this legal battle, and likely his deprivation of participation, wouldn’t exist.

So, in short, from analyzing these three lawsuits, I think my point is clear. If there is one word for the wise, it’s protect, protect, protect!

THR's Next Gen of 2011: Hollywood's 35 Under 35

noreply@blogger.com (Kelly Sott) — Mon, 23 Jan 2012 04:49:00 +0000

In November, The Hollywood Reporter released their 35 under 35, a list of Hollywood’s fastest rising stars. This list, which includes such honorees as Ari Emanuel, Stacey Snider, and Mike DeLuca, pays tribute to some of the industry’s brightest talent and high-profile projects. This is the 18^th year the list has been compiled, and for sure is a major honor, as anyone who is anyone in Hollywood reads and respects The Hollywood Reporter.

The list is broken down into categories which include Actors, Actresses, Agents, Digital, Film, Legal, Management, Publicity, TV, and Writers and Directors, in alphabetical order. For anyone who is interested in working in Hollywood, studying the accomplishments of these young professionals is an excellent way to learn from the best of the best and to see what it takes to make it big. According to THR, “for some, it may be their ability to see potential before anyone else does. For others, it’s a knack for negotiating a deal through complex industry channels.” The co-chairman of Fox Jim Gianopulos, it’s "coming up with the right answer. More often, it's coming up with the right questions. … And if you're smart enough to already have the answer, that's talent."

As a manager myself, of course I was immediately drawn to the managers THR chose as members of this renowned list. I was interested to see what the most successful young managers were doing and what they have accomplished thus far in their careers which have secured them as a coveted Next Gen of 2011 inductee. Three individuals were highlighted.

Scott “Scooter” Braun, 30, is the founder of Silent Media Group. Getting his start as an Atlanta party promoter, he graduated to marketing executive at Jermaine Dupri’s So So Def Records. By age 26, he was looking for something more. Motivated to find the next big thing, he did just that. He scoured YouTube and discovered Justin Bieber. Partnering with Usher, he signed Bieber, and the rest is history. Braun has steered the young Bieber’s career to superstardom, largely in part to Never Say Never, the hugely successful film documenting Bieber’s rise to fame which was Braun’s creation and co-production.

Adam Kossack, is a manager at Anonymous Content. After graduating from college, Kossack’s first job was as production coordinator for N’Sync. He decided to forego his plans to attend law school and decided to answer phones for Next Gen’s Class of 2006 Michael Sugar. He followed Sugar to Anonymous and has been building a roster of writer-director clients ever since his promotion in 2007.

Last but not least, Tucker Voorhees is a manager at Principato Young Management. After stints at several companies including Robert Redford’s Wildwood Enterprises and 3 Arts Entertainment, Voorhees moved from Los Angeles to New York City where he was told to “go out and sign funny people”, and he has done just that. He has scouted such talent as Zach Galifanakis and Stephen Colbert. In 2007, he returned to Los Angeles and joined Principato where he reps actor-writers, directors, and some of the original comedy talent he scouted in New York.

My suggestion to anyone looking to break into the industry is to read and reread the mini biographies of each of the 35 people THR has chosen as this year’s best young professionals in Hollywood. Something can be learned from each and every one of these individuals whether it be from their decisions and work history, their philosophy, or their work ethic. All of these people came from different backgrounds and have made their way to the top doing different things in different niches in the industry. However, one thing remains constant, these people are among the most dedicated and hard-working of them all, which should be motivation for everyone that if you put forth the effort, it is possible to break into the business and make a name for yourself.

Tattoo Artists: The Next Big Catch for Managers?

noreply@blogger.com (Kelly Sott) — Mon, 09 Jan 2012 04:17:00 +0000

Last week I went to get a new tattoo, and as I was sitting in the chair talking to the artist, it came to me. Tattoos have increased in popularity considerably over the years. According to U.S. News and World Report, tattooing is one of the fastest growing retail businesses in the country, with a new shop opening every day, adding to the 20,000 plus parlors already in existence. For those of you who have tattoos, you well know that most people are extremely particular about who tattoos them. You admire others’ work and ask who did their work. Most artists say they gain most of their clientele from word of mouth and referrals.

“Famous” tattoo artists are so sought-after that they oftentimes have a waiting list months long. Several of these artists currently appear on the hit TLC reality shows LA Ink , NY Ink, and the former show Miami Ink, as themselves. These artists are now TV personalities in their own right. I’m not sure there’s anyone who’s living in this country who hasn’t heard anything about Kat Von D for instance. Despite largely being known as the woman who had an affair with, and is now engaged to Sandra Bullock’s husband, well, former husband, Jesse James, she is an extremely talented tattoo artist, who has captured the attention of many. Von D has appeared in music videos, launched a makeup line, and released several fragrances. Her book, High Voltage Tattoo, became a best seller.

London boasts a show called London Ink, which mirrors the Ink series here in the States. One of the featured tattoo artists on that series is Molloy, the artist responsible for many of the tattoos of the Beckhams’. Simply by tattooing a superstar like David Beckham landed his work in almost every magazine and newspaper instantaneously. Molloy recalls, “It was a bit scary to be honest. The problem with a lot of press, especially the tabloids, is that they write what they want to write. The word that kept cropping up was ‘outraged’; that people were outraged at this tattoo, as if they were rioting in the street. It’s absolutely rubbish but they were just trying to stir people up. You could argue that any PR is good PR, which to an extent it is, but sometimes there’s a negative side to it as well.” Molloy understands that his six month long waiting list is due to the fact that he tattooed Britain’s other royal couple. He adds, “It’s like an endorsement, isn’t it?”

When casting for London Ink, producers were convinced they wanted Molloy as a participant. Victoria Noble, the show’s executive producer, says “And if you’re putting a studio together, you want people to be recognizable as well as having recognizable work and he’s worked with so many footballers and rock stars.” Several considerable business offers have now come his way. I could continue with examples, but let me get to my point.

As a manager, one should keep an open mind and look outside of the box of musicians and actors. We know that more musicians are starring in films and more athletes are pursuing music and acting. Everyone wants a piece of everything and they are being offered the opportunity to do it. The last time I was at a department store, browsing in the perfume section, I noticed how many stars have released their own fragrance. I mean, Justin Beiber perfume? I guess so. And obviously people are buying these things up, because otherwise more and more celebrities wouldn’t be creating their own.

So, I’ll leave you now with some food for thought. Why not manage the unexpected? Why not manage these artists who have the potential to make it big, receiving offers of all kinds, but without guidance, would have no idea how to handle it all and steer their career down the right path? Dennis Dwyer, who heads up the Alliance of Professional Tattooists, says body art has become more mainstream during his 30-year career as a tattoo artist. With the growth of the tattoo industry, I have to imagine more tattoo artists are going to go mainstream and be offered endorsement deals and the opportunity to launch their own products. Why not cash in on that too? I know I am going to definitely do some searching for the next big thing. Who said it has to be an actor or athlete or musician? Watch out because tattoo artists may very well be the newest competition, and an excellent opportunity for managers like myself.

Negotiation Techniques: Insight from a Trail Lawyer

noreply@blogger.com (Kelly Sott) — Mon, 19 Sep 2011 03:36:00 +0000

As a manager, one of my main duties is to negotiate. I have to negotiate terms of contracts, payments, appearances, sponsorships, travel, transportation, advertising… you name it. Negotiating is a never-ending part of my job. The key is to know how to negotiate, what tools or strategies to use and when, and how to deal with the opposition in order to get what you want without upsetting the other party.

I figured a good way to learn the keys to successful negotiating would be to pick the brain of a trial lawyer. Although this person deals more with federal litigation and white collar crimes, his 15 years of experience in the field in addition to his schooling allow him to offer great insight and advice, because let’s face it: Negotiating is negotiating, whether it’s for an actor, a criminal, or yourself.

So, without further ado, when I asked Moe Fodeman, an attorney for Wilson, Sonsini, Goodrich, & Rosati in New York City, what his strategies are for successful negotiating, here is what he had to say:

“From my perspective, the key to successful negotiations is leverage. Without leverage, you really have no shot at all shifting the negotiations in your favor because the other side can say just say "no" to you without losing anything. You have to identify the other side’s weakness(es), make them understand those weaknesses are real and that they pose a significant risk. So, for example, in my line of work, the key to negotiating to favorable plea agreements for criminal defendants is to make the government understand the shortcomings of their case (if there are any) and make them believe they could lose.
Beyond leverage, (since in the world of federal criminal defense, we very rarely have much leverage!), I find that the most important tool in successful negotiations, is to maintain credibility. People know when you're trying to sell them a bill of goods. And if they don't feel they can trust you, they're unlikely to move your way in a negotiation because they'll be too afraid that you're trying to get over on them. The other side has to believe you when you tell them their case is weak, or that your position is strong, or that you are prepared to walk away from the negotiations.”

Moe Fodeman is currently representing me and one of my entertainment clients. I have seen him at work and in the line of duty, and on top of what he has to say here, I think another key to successful negotiating is being personable. Moe is outgoing and likeable. He makes it difficult to say no.

So, in summary, I recommend going into a negotiation with confidence, but not too much that you ruin the rapport you have built with the opposition. Listen, respect the other party, and work together to come to an agreement. And if all else fails, hire a lawyer!

How the government influences a film’s location

noreply@blogger.com (Kelly Sott) — Fri, 19 Aug 2011 01:38:00 +0000

What are they and how do they work?

I guess the first question to tackle is if the government influences such a decision. Coming across an interview about state tax stimulus packages, stimulated me enough to do a little digging. Basically, states are now in competition to lure productions their direction by offering tax incentives. According to the Film Tax Incentives website, tax incentives are the new backbone of film financing equations and can be offered as tradable tax credits, refundable tax credits, film tax rebates and reductions in state taxes. To put it more simply, if producers find it economically beneficial to film in a particular state because they have to pay less money to the government and therefore have more money to put towards their project, chances are, they’re going to take the state up on its offer. In 2008, productions that were shot in Michigan could be reimbursed by the state for up to 42% of their expenses. That’s like making a movie for half price. All of a sudden, filming in Detroit versus Los Angeles doesn’t seem so bad.

How they started

These tax incentives originally came about in order to lessen the number of “runaway productions”- projects that went overseas to film because it was cheaper. Although not overseas, Canada was the most successful, which built Vancouver and Toronto into major North American Production Centers. The States started coming up with tax based incentive programs in order to keep the jobs at home. What ended up happening was states like Louisiana, Michigan, and New Mexico began making it seem so appealing to bring a project to their state that they saw an influx of applications by producers desperately trying to get ahold of some of these tax credits. Although the state governments were offering hundreds of millions of dollars in incentives, the benefit and effect of luring these productions their way began paying off dramatically in the long run, at least for the most part, but we’ll get to that later.

The benefits of local production

The rapid influx of millions of dollars into local economies served as lucrative economic stimulants that the governments, film industry, and local beneficiaries of the tax incentive found highly desirable. For instance, Louisiana has established themselves as a top competitor and has landed tons of deals, third only behind Los Angeles and New York City. And because of the experience they are gaining from having so many films produced in their state, more than 50% of projects are local productions, using Louisiana film crews and facilities, which shows what kind of impact the tax breaks can actually have. Nick Paleologos, former head of Massachusetts’ Film Office until December of last year, pointed to the $452 million spent by movie productions in the state in 2008, but says that’s not even close to capturing their full impact. In addition to the jobs they generate, he talks about the “multiplier effect”- the money spent by film crews on hotels and restaurants and other services that keeps cycling through the local economy. He also talks about the interest generated for a particular location if a film is produced there. The trailers and lights and cameras and “movie stars”… it’s all very exciting, especially if you’ve never experienced it before.

Poor California

So, as states wave incentives under the noses of producers, we can’t forget about the people being left behind- the original film crew- those in California. Although Hollywood and cinema go hand-in-hand, 40 other states are after the industry due to the economic gain it brings. Ironically, California had to follow suit and offer tax incentives so films would stay. The program in California began three years ago and is up for renewal this month. The Motion Picture Association of America commissioned a study that determined that California’s tax breaks generated 20,000 jobs and contributed $200 million in state tax revenue. With the state’s deficit however, some people wonder if it’s worth it to set aside $100 million in tax breaks.

Are they worth it?

Several other states have scaled back on their packages as well because facing unprecedented fiscal pressures, some lawmakers question whether handing out dollars to Hollywood is the best use of increasingly limited public funds. According to the Associated Press, all totaled, states issued $1.8 billion in incentives and tax credits from 2006-2008. That’s a lot of money on the table, especially since there have been some issues about how the money actually was spent. For instance, currently, Tom Wheeler, once head of the Iowa Film Office, is on trial for allowing the misuse of funding. He inadvertently cost the state millions in legal liability and lost economic development. And remember Nick Paleologos? He is now the former head of the Massachusetts’ Film Office after being booted due to controversy and abusing his position. Some people just can't seem to handle all of the money and subsequent power that comes with it, which has proven to have devastating effects on certain states.

The downside

But there’s a major downside to pulling the funding. After creating all of these jobs, if a state stops offering incentives to production companies, causing movies go to cities that are offering incentives, all of the local people relying on working on those projects will be jobless. And here's the irony: You'll have these people standing in line at the unemployment office, collecting government dollars, instead of paying taxes and working on a project that could be generating significant money for the government instead.

Where do we go from here?

So, as our country continues to battle the impending doom of the national deficit, each state’s decision as to whether or not to offer generous tax breaks, and if so, for how much, remains a debate. Although I personally think it’s exciting and healthy to see productions spread throughout the nation, there is still just something that makes movies and Hollywood seem right. But, these tax incentives seem to be too enticing for many states and most producers to pass up. I’m going to have to fit my clients with radio tracking devices just so I can locate them while they’re working. Either way, I’d like to think it’s safe to say that Hollywood will always remain the entertainment hub of the world, which means managers like myself will still have a home base. With technology these days, all communication can be done remotely, but I’d much rather have a reason to live by the beach than to bare a Midwestern winter.

Technology's Effect on Entertainment Stocks

noreply@blogger.com (Kelly Sott) — Sun, 07 Aug 2011 13:22:00 +0000

In an earlier post , I talked about Netflix and how the company was branching out and taking a different approach on things, having decided to release its own television series- the first of its kind. I must have inadvertently kept their concept in mind, because whether it was subconscious or not, since then I've found myself continuously drawn to news stories about companies using Netflix and other new distribution platforms, stirring up traditional media and discovering original avenues of generating revenue through new forms of media.

Because I am currently studying entertainment business finance in graduate school, I'm trying to make a dedicated effort to incorporate finance into my daily life and routine, hence the mentions in this blog entry. I'm constantly looking for correlations between the subject and the entertainment industry, particularly my field of interest as an artist/talent manager, considering a vital responsibility of many managers is to advise their clients as to how to invest their money. Establishing a solid financial background myself can and will definitely benefit me personally as well, so the more knowledgeable I become, the better .

I began researching different entertainment and media companies after learning second quarter earnings were released earlier this week, and kept coming across articles mentioning CBS Corporation because their reported earnings were more than double that of last year. Most analysts attributed this significant increase to the fact that CBS has decided to release many of its older hit shows such as Frasier and Cheers to Netflix. Now internet users and Netflix subscribers can watch and enjoy CBS owned content at their leisure, where it was simply not available to them before.

Utilizing new methods of distribution not only offers more opportunities and freedom for the networks and studios, but it also offers more opportunities for actors, since with new media platforms, there is more room for additional projects, and more projects ultimately means more roles (and therefore more work for managers like myself). The key is to think outside of the box because the opportunities are there, and with time and some patience and recognition, the opportunities are going to keep coming. As a manager with clients just breaking onto the scene, harnessing the potential from these new media platforms can serve as a goldmine in securing my actors work.

In an August 2^nd article in Reuters, author Paul Thomasch writes that Les Moonves, the Chief Executive of CBS Corp., announced that deals could also soon be in the works with Apple Inc., Google Inc., Microsoft Corp., and Dish Network Corp. Sam Schechner of the Wall Street Journal writes that media executives hope that CBS’ bold and forward thinking moves “will be an arms race among technology companies to buy content to feed a new array of tablet computers and Internet-connected televisions”, mentioning that Amazon.com Inc. has already positioned itself to begin to compete with Netflix and has struck deals with both CBS and Comcast Corp’s NBC Universal as of late. It seems as if everyone is beginning to realize that utilizing new forms of media can be advantageous to all parties involved. This day and age, with all of the new developments in media distribution, has the opportunity to revolutionize the way consumers access and view programming. The pioneers of these new avenues are at a major advantage, as can be seen by the significant increase in profits for companies such as CBS.

As I read through countless articles commending CBS for their non-conformist strategies, I became convinced that by taking chances and utilizing the not-so-traditional forms of distribution, they would continue to flourish, no matter what happened with the stock market and other outside influences. And as quickly as I came to that conclusion, all of my beliefs were turned upside down.

As we all know, the stock market took a serious nose dive on Thursday, August 4^th, 2011, plummeting over 500 points. Whereas many analysts were convinced (or at least trying to convince their readers and more likely than not, themselves as well) that the well-being of the entertainment and media companies was independent and not affected by the financial market, all of their theories were refuted in an instant. Ironically, out of all of the entertainment stocks, CBS was hit the hardest, dropping over 9% over the course of that one day. I guess when investors panic and want to get out, it doesn’t matter who they are or where they have their money. If they think they may lose it, they are going to pull it and head for the hills, groundbreaking new distribution methods or not.

I want to come clean and confess that my knowledge of the stock market, investing, and finances at this point is probably comparable to that of a goldfish. Actually, I probably shouldn’t even give myself that much credit. Trying to wrap my head around the ups and downs of the market reminds me why I content as a biology major in college. But, I am hopelessly optimistic that with a little guidance (okay, with a lot of guidance), that soon I’ll understand what is going on and why. In my defense, from what I’ve read, which has been a considerable amount lately, even the most educated and experienced analysts seem to get as blindsided as the rest of us. If I have learned anything so far, it’s that our economy and everyone who invests in it, is as fickle as they come. Of course, if I had my life savings relying entirely on the fate the stock market, I have to assume I would be pretty fickle myself.

But, back to CBS and to Netflix and to these new forms of media and distribution. Despite the major hiccup everyone experienced the other day, I am confident that the entertainment and media companies looking to take chances and utilize new technology and advancements in order to produce and distribute their programs are going to prevail. It’s a well-known wives tale to not put all of your eggs in one basket. CBS and Netflix are definitely following that advice. The more avenues they pursue, the less affected they’ll be if an avenue fails and the greater chance of success they’ll have if an avenue is proven effective.

Personally, until I get a better handle on stocks and finances and investing in general, I’m going to look solely at the facts. And the facts are, that technology is changing. Everything we do and how we go about doing it is changing at lightning speeds. Ironically, the only portion of CBS that did not see an increase in profits was their book publishing division, which simply proves that digital distribution is the way of the future for books as well as television and movies. I can say with great confidence that with such advancements as streaming online content and video on demand, there is endless potential for entertainment and media companies- what they produce and how they choose to distribute it. And with this endless potential comes new and exciting opportunities for actors, their managers, investors, and viewers alike. Stay tuned though, because it may be a bumpy ride.

Taking a Chance on Personal Branding

noreply@blogger.com (Kelly Sott) — Sun, 31 Jul 2011 20:44:00 +0000

I was recently introduced to a website called TED: Ideas Worth Spreading. The idea of TED, which began as a conference in 1984 to bring people together from the worlds of Technology, Entertainment, and Design, hence the name, is that great information, great ideas, and great innovation, should be shared with as many people as possible in order to enlighten and inspire everyone who is subjected to it. In a lecture by Chris Anderson, the founder of TED, he explains the concept of crowd accelerated innovation. The basis of this concept is quite simple, yet if utilized properly, can be extremely revolutionary. People introduced to new information, anything from a science experiment to a dance move, get inspired to either recreate, adapt, or improve whatever they see and learn. Therefore, more people exposed to this information will result in more inspiration, and ultimately more innovation. With more people involved, there is greater opportunity to create bigger and better change, and at much faster speeds.

Anderson adapted crowd accelerated innovation into internet accelerated innovation, discussing how with the internet and online videos, it is now possible to share one’s knowledge and talent (and anything and everything else for that matter) with millions and millions of people worldwide instantaneously. People who would have never had the opportunity to be exposed to certain things due to their geographic location or any reason whatsoever can now watch and learn from whoever they want, whenever they want. When a video goes viral on Facebook or You Tube for instance, within a matter of hours, not only will an astronomical number of people have watched it, but a huge number of people will have most likely begun trying to imitate what they have seen, leading to more sharing, more inspiration, and more advancements. Everyone tries to outdo the person before. And once again, the cycle continues.

You can learn a lot from the TED website, not only about the ideas of the world’s most inspired thinkers, but also just from the speakers’ passion and they way they convey their stories to the audience. Don’t panic, if you have flashbacks of the most boring lectures you can remember back from your days in school, these lectures are nothing of the sort. These speeches last less than 20 minutes each and are actually interesting and entertaining. The time goes by in an instant. And speaking of passion, one of the highlighted “Best of the Web” talks (watch video below) is given by an entrepreneur named Gary Vaynerchuk. He’s an inspirational speaker and encourages listeners to do what they love; and passion is literally oozing out of this guy’s pores. He insists it’s the only way to succeed in one’s career. He says that in order to do well, it is essential to hustle- to work as hard as possible every chance you get. There are no excuses. They key is to stay up-to-date on everything and to take advantage of every opportunity possible. You have to figure out what you really love and carve a niche for yourself in the market, work to build brand equity, network, and just go for it. In order to position yourself to succeed, you have to use all of the social media tools out there in order to connect to your user base anywhere and everywhere you can. You have to get people to talk about you. If you are doing something noteworthy, then you are going to get recognized. And the more people you expose yourself to, the more people who will talk about you, which is a variation of Chris Anderson’s crowd accelerated innovation.

Vaynerchuk also discusses that they only way to truly succeed is to be completely transparent. You have to be authentic and be true to yourself. In order to make people believe in your product or your services, first they have to believe in you. He stresses that there is only one chance at life, so we better take advantage of it. We are going through the gold rush of branding and there is an infinite amount of potential for success. As long as you work for it and want it bad enough, you’ll achieve it. Just absolutely love what you do and working so hard won’t be so hard at all.

I came across a second video dedicated to the topic of personal branding, which also stresses the importance of transparency. In this video , found on the BNET website, the CBS Interactive Business Network, host Robert Gerrish interviews Australian author Ben Angel. Ben says that it’s okay to tell your own stories and that you can’t be afraid of hiding anything in the fear of not fitting in. You should put things you may normally have the tendency and desire to hide in the forefront. It’s okay to be controversial, mind you, as long as it’s in context. There is nothing that is better to educate your clients about how you utilize your services than if your personal stories are able to stimulate debate. Being more seductive and vulnerable to clients is going to take you a long way. And since this information is coming from an expert a half a world away, just as it is coming from Vaynerchuk, a New Yorker, it’s obviously a worldwide, accepted principle. Just be yourself.

Hopefully this simple information will be a motivating factor to get you to open up about yourself, to take a leap of faith, and to decide to take a chance to not only do what you love, but to put yourself out there while doing so. It may sound scary, but after opening up, you will feel completely liberated. The personal and professional rewards you reap for taking that chance will be more than worth it.

SAG, New Media, and iActor- The Way of the Future

noreply@blogger.com (Kelly Sott) — Wed, 20 Jul 2011 06:19:00 +0000

I have chosen to dedicate this post to the Screen Actors Guild, which for those of you who don’t know, is a trade association consisting of over 125,000 members. Despite its large numbers, I am not a member, mainly because I am neither qualified nor eligible to join. There are various prerequisites of membership, such as having played a principal role in a SAG affiliated and approved project. Although I’m not a member, my clients and prospective clients are, so I admire their exclusive club from the outside looking in, as it’s known as the most distinguished performers union in the world.

Having recently completed some in-depth market analysis on entertainment industry trends, I found a common thread among all sources and a main topic of interest concerning advancements in technology and in what ways technological breakthroughs are affecting the business. Probably the most influential innovation of all time, or at least of recent history, is of course the Internet. With every passing day, it offers more and more capabilities, providing the entire world’s worth of knowledge instantaneously at our fingertips. In addition, the Internet is now serving as an additional platform for the distribution of shows, news, and movies alike. With Video on Demand, consumers can now watch what they want, when they want, and even where they want, with access to media on their mobile phones, which is changing both the mindsets and behaviors of the public and the advertisers trying to reach them.

The Screen Actors Guild, otherwise known as SAG, is the largest labor union representing working actors. According to its website, “The Guild exists to enhance actors’ working conditions, compensation and benefits and to be a powerful, unified voice on behalf of artists’ rights.” SAG not only strives to protect its members, but to also help find them work. It has developed a New Media Department which “provides valuable insights into the implications of emerging technology”. In other words, SAG formed this department because as technology and new platforms evolve, so too must actors’ contracts. Just as downloading songs has had major repercussions on the livelihood of musicians, downloading television shows and movies will have the same effect on actors. Therefore, their work must be protected over these new distribution channels before its too late. SAG is focused on making sure that happens.

In addition, SAG now offers a free service to its members called iActor, which I feel truly speaks to the times. iActor is an innovative online casting agency featuring only members of the Guild. Each member has the opportunity to create an online profile and can upload multiple resumes and headshots onto the platform that target different varieties of work, such as commercials or features, as well as video and voice reels. These profiles can be modified and updated at any time. When a producer or casting director is in need of talent, he or she simply can access the iActor database and sort through all of the profiles, narrowing each search by any combination of categories and terms such as skills, physical characteristics, and credits. Once any prospective performers are found, agents are able to contact the actors’ representatives through direct email. And then that’s where I come in. If actors want to solicit a particular casting agent, director, or producer directly, for example, they can email their profile to any of their contacts and a properly formatted version of their resume will automatically be attached (although running that by your manager might not be a bad idea).

iActor is groundbreaking in the fact that now casting agents too have all of the information they need right at their fingertips. And every actor on the platform has an opportunity to be ‘seen’ by every casting agent searching the site. Actors with less connected representation for example, who may not have been looked at before, are in the running for parts alongside everyone else. It makes for a fair and unbiased playing field- a field much bigger and broader than ever before. Now actors who don’t live in the heart of Los Angeles or New York have the same exposure and opportunities as those who do. SAG has even gone so far as to put together a team of individuals to personally assist members who are not computer saavy, as well has holding regular workshops for those needing additional assistance or helpful tips so that no one gets left behind. Finally, iActor features automated Station 12 cast clearance, which means that producers will know right from the start that an actor is cleared to work, rather than spending the necessary time, money, and resources trying to determine an actor’s eligibility. That’s additional time, money, and resources they can save and rather dedicate to their production.

Overall, I am emtremely impressed with the Screen Actors Guild and its attempts to stay current in order to both protect and showcase its members. In this day and age, it is essential to continuously adapt and evolve, as technology is radically changing how everything is done. The union is making every attempt to help procure work for its members while looking after each and everyone’s best interest. And for all of those SAG members out there that haven’t yet taken advantage of the iActor casting directory, hopefully this article will give you the incentive to do so, because if it hasn’t been necessary to join thus far, judging from industry trends, it is definitely the way of the future.

A Partnership to Watch

noreply@blogger.com (Kelly Sott) — Fri, 17 Jun 2011 23:54:00 +0000

In a press release issued June 13, 2011, it was unveiled that Simon Fuller, creator of American Idol, and Chris Blackwell, founder of Island Records, are forming a revolutionary joint venture called Blackwell Fuller Inc. It’s almost so revolutionary that although it was strategically and formally announced, so far it seems more top secret than concrete. Not many details have been confirmed, so the business plan is up for a lot of speculation.

What we do know is this: Fuller and Blackwell are two of the most influential people in the music and entertainment industry and the career accomplishments of them each individually almost guarantee that their collaborative work is going to be just as successful or more. In this venture, Fuller and Blackwell plan on representing artists by allowing them and the content owners in the music and entertainment industries the ability to expand their audience. We know that they plan on taking advantage of all of the recent and continuous changes in the new digital age. They plan to create new media partnerships and opportunities and aim to put artists and content owners in full control of their careers and their businesses for the first time. Sam Thielman of Variety explains that these partnerships will “bypass the traditional, stage-managed relationship between artist and fan.” Billboard explains they want “to give artists the freedom and financing ‘to explore new paths to the market’”. The LA Times calls it a “digital media consulting firm for musicians and artists”, and the Financial Times says the venture aims to bypass traditional record labels by giving the artists more power to profit from their work.

To me, even when considering all of these statements, the Blackwell Fuller business plan still seems extremely ambiguous. All I can truly gather is that they plan on offering opportunities for artists to benefit from their work in ways they never have before and that they are going to have the creative freedom to do that however they please. I have to imagine artists must be salivating at the thought. Blackwell himself told the Wall Street Journal that they aren’t competing with management companies, but rather with major record companies. However, Fuller began his career as a manager, representing the Spice Girls in the 1990s, and still represents them today under XIX Entertainment, a company he recently created and heads, which represents big name athletes and artists including David Beckham, Jennifer Lopez, and Carrie Underwood. He left the company that produces American Idol last year, but remains executive producer, to manage his list of clients. Blackwell, on the other hand, introduced the U.S. and Britain to Bob Marley and reggae, and guided such artists such as Cat Stevens, Melissa Etheridge, and U2 for decades.

I can’t help but think that Blackwell Fuller Inc. has the potential to develop into an all-powerful management firm, despite their claims, due to the founders’ experience as managers, their business plan, and the fact that the company has hundreds of millions of dollars worth of financing. With Fuller and Blackwell’s clout in Hollywood, they can basically do whatever they want. And what successful artist wouldn’t dream of having the opportunities these two can supposedly offer?

Although I am anxious to learn more about this venture as new details are released, as a talent manager myself, I am left wondering what kind of effect Blackwell Fuller will have on the industry, and if it will benefit smaller managers like myself, or negatively impact us if it begins to overpower its competitors. I am hopeful that with the constant advances in digital media, we will all be able to find and succeed in our own niche, since battling the Goliath might prove deadly.

I reached out to XIX Entertainment’s media contacts for comment, explaining that I am a graduate student in Entertainment Business, and after a few brief email exchanges, Kelly Mullens left me with this: “You will never learn - nor will you succeed in the entertainment business - if you don’t do the work yourself.” Considering she is the media rep for Simon Fuller, I’ll accept her words of wisdom knowing they are coming from a reputable and established person in the industry. As much as it would be nice to think that Simon Fuller gave me that advice directly considering how much I admire him, I still plan on following it and will hopefully benefit personally and professionally by doing so.

I leave you now, not as much with the fear of Fuller and Blackwell swallowing me up, but with inspiration from a lesson from which I think we can all learn: If you work hard, and pursue your dreams, you can and will prosper. Simon Fuller and Chris Blackwell are true testaments to that. As I uncover more detail about the developments and plans of Blackwell Fuller and how it is influencing the industry, I will be posting it here, so make sure to check back!

What does it take to be a successful talent manager?

noreply@blogger.com (Kelly Sott) — Sun, 05 Jun 2011 18:49:00 +0000

According to the Talent Managers Association, an agent’s primary objective is to secure employment for his or her clients, while a manager is forever thinking about how to make things better. I have compiled select questions and answers from several interviews with various experienced talent managers in order to gain a better understanding of who a talent manager is and what a talent manager does. Here is what I found:

In an interview with Steven Nash of Arts and Letters Management and former President of the Talent Managers Association, Mr. Nash explains that a manager is the client’s partner. Because managers work on commission, they virtually invest in their clients. Managers handle less people than agents. They assist in making financial, professional, and personal decisions of their clients in order to help their marketability and reputation.

To watch the entire interview, click here.

Meghan Schumacher of Meghan Schumacher Management

You represent actors for a living. What do you enjoy most about being a manager?
The thrill of creating an exciting opportunity for someone is great. I have been working with some of the same actors now for over ten years. Having that long-term knowledge of their needs and building on a foundation so that their career continues to grow is a challenge and very satisfying. Every day is a different set of goals to accomplish. It’s fun.

Okay, this still confuses people. What is the difference between an agent and a manager? If I have a manager, do I need an agent? Or vice-versa?
This is the million-dollar question, isn’t it? Technically the difference is that an agent is responsible for getting those opportunities (offers/auditions) that an actor needs to get a job and that a manager is there to guide or advise the client through the process getting that job. The lines are blurry in many cases, I will be honest. Also, as a general rule, an agency will have many different agents covering separate projects.
A manager can offer different services for different clients. If an actor has a great agency and they are doing a great job, then a manager can be a part of the team that enhances all of those positive experiences by playing “air traffic control,” if you will. In essence, a manager can help distill everything so that the right decisions (i.e. which role to choose, which audition/offer to prioritize) are made. If an actor has many different agents covering separate parts of the business, the manager is there to oversee that they all get covered equally and to the best advantage of that specific actor.

Dustin Hoffman’s agent in Tootsie has a great line. He says to Hoffman: “I’m your agent, not your mother.” Realistically, what should an actor expect from his or her representatives?
The expectation for all representatives is that they should be working hard to help move the actor’s career forward. Everything after that is different with each manager. The flair and style with which each company illustrates that is very different. Some are very motherly and interested in your personal life etc. Some do just as well a job but stay completely on the professional side of the relationship. Each actor can find what they are looking for.

To read Matthew Rose’s complete interview with Meghan Schumacher, click here.

Kathy L. Carter of Carter

What are some of the challenges you face as a Hollywood manager that might surprise people?
I come from a very straight-forward family. I respect when people get straight to the point and accurately say what they mean. I am considered too blunt with some people but I consider this to be respectful to the other person's time and profession. If I don't like something, I say I don't like it. This includes speaking very directly with my clients. We are only as good as the weakest link so I have a very honest relationship with the people that I do business with even if they don't like my delivery. If I lose a deal or a client, at least I did it with honesty and integrity.

To read the full interview with Kathy Carter, click here.

Wendi Niad of Niad Management Company

Are there any upfront or ongoing fees to the client?
No fees. No legitimate management company would charge a client any upfront or ongoing fees. We make money when you make money.

How is being a manager different from being an agent?
Less clients and much more hands-on. It's not so much about the next commission check (as agents are concerned with) as it is about where that client wants to be five years from now. It's more about career planning than just the next job.

What if your client also has an agent? How do you work with the agent to avoid duplication of effort?
E-mail is a beautiful thing. I e-mail the agents whenever something has come up for that client. We are always cc'd on any correspondence regarding that client and vice versa. Usually, if we're trying to get a client hired for something, one of us will call the studio and the other will work the producer.

To read Mary Schirmer’s full interview with Wendi Niad, click here.

Successful managers seem to truly be involved in every aspect of an actor’s life throughout the duration of his or her career. They need to be their clients’ best friend, while still always viewing every situation from a professional standpoint. Although being a manager requires serious patience and hard work, it is clear, from the managers interviewed here, the rewards are much greater.

Reality TV and Animation- Is There Still Room for Actors?

noreply@blogger.com (Kelly Sott) — Mon, 16 May 2011 03:46:00 +0000

Reality TV began as what was thought of to be a fad. However, due to their obsessive fans (how many of you have gotten sucked into all day marathons of Project Runway or The Jersey Shore?), more and more reality shows are getting pitched and picked up, leaving less and less slots available for “old-fashioned” shows- ones that require paid actors. And because networks are able to save on salaries, at least until the no-names who earned their 15 minutes become recognizable and can demand higher payouts, it’s enticing to them to not have to employ actors and writers to produce a series.

Actors are not only competing for air time with reality shows, but they are competing with cartoon characters as well. According to The Hollywood Reporter, Fox plans on airing at least two additional animated series this upcoming year (Allen Gregory and Napoleon Dynamite), and may try to compete with Saturday Night Live by filling their late night Saturdays with animation.

Luckily, with the advent of digital cable, more channels equal more possibilities. More shows mean more opportunities, which should lead to more work for actors and writers. And if these cable channels can’t help keep the unemployed from being just that, maybe Netflix can. According to TODAY, The Associated Press reported that with Netflix’s growing clout in Hollywod, it plans to distribute its own series, The House of Cards, which will be the first of its kind. Instead of airing on a particular network at a set time, Netflix will release the shows via its online streaming or DVD delivery service, since the company owns the rights and can air it as it pleases. With names attached such as actor Kevin Spacey and director David Fincher (nominated for best-director Oscar for The Social Network), The House of Cards could be a big hit and a big money maker for Netflix, which will only open up the doors for additional shows to be created and released in the same manner.

So, I guess for now we can all still indulge in our guilty pleasures and watch reality shows and cartoons and not feel guilty that the talented actors out there will continue to have less and less work. With new distribution methods and loyal viewers, hopefully there will be room for all. There might not be enough time in the day to watch everything worth watching, but there is always Tivo.