Chris Erwin’s Post

Is technology killing entertainment? Part 4 of 5 - Is business model disruption destroying the entertainment industry? Back in 2012 I was talked with my old friend, and Chairman of 20th Century Fox Jim Gianopulos about the bidding war between Fox and Disney for the Star Wars franchise. We'd been the home of Star Wars since Fox took a punt on young filmmaker George Lucas, with his mad scifi reinvention of the Western, but the world had moved on to consumer products and theme parks, and there was simply no way Fox could compete with Disney's $4bn offer. A taste of things to come, with the following decade turning the world of TV and movies upside down, thanks to technology removing the traditional barriers to entry and enabling anyone to go direct to the consumer, with new business models - be that Lovefilm/Netflix, Apple, Amazon, Comcast and many more cutting out theatres, Studios, TV networks and retailers, and cross-subsidising from other business units. In theory, all a good thing for entertainment - more money than ever being spent on production, with year after year of "peak TV" and "peak movies", audiences and producers had 'never had it so good'. Without the streaming services, it's almost certain Covid lockdowns could have killed off Hollywood as we know it, with Studios making huge profits selling off movies to streaming services witnessing explosive growth. More than that, it's enabled more people to enjoy more people more of the time - with literally billions of people around the world with smartphone devices and affordable dataplans, and has allowed creatives and content owners to reach niche audiences at scale in a way never before possible. It's also provided an exponential increase in the amount of data and insight that's available - far from the old days of BARB panels and '4-quadrant movies' where the world was divided male/female and under 25/over 25. Streamers now know everything about everyone's individual viewing habits, and can build and market shows and content to thousands of microsegments to maximise engagement and value. I guess what makes me a little uncomfortable is that technology has enabled commerce in a way that was never before possible, and the logic of capitalism is to maximise individual consumption as the sole driving purpose. At Fox, and at Channel 4, it was clear that everyone was there for one purpose alone - to make great movies and great TV that people talked about. Our role as marketers was to engage prospects and customers, in order to drive audiences or box office, which made money... to then make great movies and TV. Making money is great, but creating value is better. My other nagging concern is that the focus on individual consumption is reducing the number of hits, and thereby the number of collective entertainment experiences. Great entertainment is about great shared cultural experiences, and we need to look at how to better use technology to return entertainment to its true purpose.

Get ready for a media revolution! Our latest article discusses the future of our screens and how they will shape the entertainment landscape. Interactive Television is not just on the horizon, it's here. Featured in the article is an innovative startup GrabTV, led by visionary founder Lincoln Berry III. Hailing from Dover, Delaware, GrabTV is taking TV to new heights transforming it into an immersive, interactive experience. They specialize in T-commerce, bringing entertainment and shopping together in a seamless and engaging way. Ready to get a peek into the future of media and entertainment? Let's explore together. https://lnkd.in/erQy5BCD Keep innovating. Keep disrupting. #InteractiveTelevision #MediaAndEntertainment #Startups #Innovation #Disruption #GrabTV

Emerging UK Broadcasting Startups are taking innovation to unprecedented levels and you won’t believe who’s made it to our Spotlight list. Here is a glimpse of some visionary ventures that are shaping the future of Broadcasting. Check out our latest article to know who’s captivating audience globally. https://lnkd.in/dNRydxse Featuring: RocaNews, provides their audience a platform to form their own opinions on news. Extra Salt, revolutionizing the world of Broadcasting in Sports, offering a multitude of services ranging from video games to apparel sales. Newsworthy, co-founded by Dillon Bernard, bringing fresh perspectives in various industries including broadcasting and film production. Toucan, founded by a the visionary quartet Antonia Hellman, Ethan Hellman, Ivo Rothschild and Michel Cassius, leading the charge in social-first video platform. AWRY Productions, creating waves in the broadcasting scene with their expertise in digital marketing and music. Atlantic195, offers a blend of media, entertainment and music. Spotz.ai, spearheaded by Ralf Jacob, carving a niche for themselves in the broadcasting industry. United Business Outlook, led by the dynamic duo Lovkesh Mahato and Sanchitt Goenka, offering comprehensive coverage in the international business world. #Innovation #BroadcastingStartups #UKStartups #FutureOfBroadcasting #Media #Entertainment #InnovativeBusinesses.

Media and Entertainment M&A is back.. Over the first 4 months of 2024 we’ve seen a flurry of big ticket deals. ·      In media production: KKR backed Mediawan has just acquired LEONINE Studios. In March, Fremantle bought Oaktree backed Asacha Media Group, and earlier this year All3Media sold to RedBird Capital Partners . ·      In music: Blackstone has just acquired Hipgnosis Song Management for $1.57 billion, and earlier this month EQT Group backed Pophouse Entertainment acquired iconic rock IP ‘KISS’ for $300m. ·      In Video Games: The Carlyle Group sold Jagex (developer of RuneScape) to CVC Capital Partners for £910m. ·      In Sports:  Bridgepoint backed Dorna Sports (owner of MotoGP) sold to Liberty Media for €4.2 billion, and Disney, Fox and Warner pooled their sports assets to create a new streaming joint venture. ·   In Diversified Entertainment:  Silver Lake took Endeavor (owner of WME, WWE & UFC) private in a $13 billion transaction, and RedBird Capital Partners and KKR backed Skydance entered into exclusive negotiations to buy Paramount. ·      In the Creator Economy:  YouTube stars Dude Perfect raised $300m from Highmount Capital to expand their franchise. All these deals have one thing in common. The acquirer is buying high quality IP assets with growth potential.  However the route to unlocking this value is changing. Seismic shifts in the Media and Entertainment landscape mean Operators need a new Playbook to build the businesses of tomorrow. The winning Companies of tomorrow will be bolder, capitalising on new growth opportunities to serve increasingly digital audiences with a more expansive set of cross media experiences. As inflation declines and the cost of borrowing falls, expect M&A momentum to continue. Current trends will continue with: ·      More divestments from Operators who lack the vision, cash & scale to navigate the current market environment. ·      Growing momentum behind consolidation M&A as incumbents bulk up to compete in an increasingly global and digital market where Big Tech is shaping industry development. But we will also see the start of a new wave of M&A that capitalises on the opportunity for more radical reinvention with: ·      More Private Equity backing of Management Teams with the vision & capability to reimagine underleveraged IP for the digital age. ·      M&A combinations that bring together traditional media IP & content businesses with next gen Ad Tech, digital distribution and social media assets, as incumbents think more ambitiously about their future. All parts of the Media & Entertainment ecosystem will be impacted by current M&A momentum, so my advice is build a view now on whether and how you want to participate. As the market reshapes you can’t stand still and M&A is one key way to control your destiny. If you'd like to learn more about emerging opportunities do get in touch. #entertainment #disruption #strategy #sports #videogames #technology #Mergers

FROM MICKEY MOUSE TO MEDIA EMPIRE : THE DISNEY ODYSSEY. Chapter 10: Disney in the Digital Age. The most recent chapter in the story of The Walt Disney Company, is characterized by Disney's continued adaptation to the evolving landscape of the digital age. This period has seen the company navigating the challenges posed by the global pandemic, the acceleration of digital streaming, and the ongoing expansion of its content offerings. 1. Impact of the Global Pandemic : The COVID-19 pandemic had a profound impact on various industries, and Disney was no exception. With theme park closures, disruptions in film production, and changes in consumer behavior, Disney faced challenges in its traditional revenue streams. 2. Disney+: The launch of Disney+ in November 2019 marked a significant move into the streaming service arena. However, it was in this chapter that Disney+ truly came into focus. The platform became a central pillar of Disney's digital strategy, offering a vast library of content, including classic Disney animated films, Pixar movies, Marvel superhero sagas, Star Wars franchises, and original programming. Disney+ rapidly gained subscribers globally, competing with other major streaming services. 3. Premier Access and Hybrid Releases: In response to the challenges posed by the pandemic, Disney adopted a hybrid release strategy for certain films. This involved simultaneous releases in theaters and on Disney+, sometimes with an additional premium fee under the "Premier Access" label. 4. Expansion of Franchises: Disney continued to leverage its vast array of franchises, particularly those acquired during the Era of Acquisitions. The Marvel Cinematic Universe (MCU) expanded with new series on Disney+, and the "Star Wars" universe saw the release of original series like "The Mandalorian" and "WandaVision," further extending the storytelling beyond traditional film formats. 5. Theme Park Innovations: Despite challenges posed by the pandemic, Disney's theme parks innovated to enhance visitor experiences. Technologies such as virtual queues, mobile ordering, and immersive attractions were introduced to adapt to changing guest expectations and safety protocols. 6. Focus on Inclusivity and Diversity: In this chapter, Disney placed a renewed emphasis on inclusivity and diversity in its content. Initiatives such as increased representation in film and television, as well as the reimagining of classic attractions in theme parks to better reflect diverse perspectives, demonstrated a commitment to reflecting the evolving values of society. The digital age has brought both challenges and opportunities for Disney. Navigating the rapidly changing landscape of media consumption, the company has embraced technology, expanded its streaming services, and continued to deliver content that resonates with audiences of all ages. #startup #strategy #entertainment #media #marketing #branding #management

As the TV market goes through a period of great change, M&A is one way for businesses to reinvent themselves and take control of their destiny

Dream Hunt Productions generates revenue through various channels, including: 1. Content Production: The startup earns revenue by producing and licensing diverse and inclusive content, including films, television shows, web series, and digital media. This content can be monetized through distribution deals with streaming platforms, television networks, and online channels. 2. Sponsorships and Partnerships: Dream Hunt Productions can secure sponsorships and partnerships with brands, organizations, and other media companies interested in supporting diversity and inclusion initiatives. These collaborations may involve product placement, co-branding opportunities, and marketing campaigns tied to specific projects. 3. Merchandising and Licensing: The startup can leverage its intellectual property rights to generate revenue through merchandising and licensing agreements. This may include selling branded merchandise, such as apparel, accessories, and collectibles, as well as licensing content for use in video games, books, and other media formats. 4. Events and Experiences: Dream Hunt Productions can organize and monetize live events, screenings, and immersive experiences tied to its content and brand. This may include film festivals, panel discussions, workshops, and fan conventions, which can generate revenue through ticket sales, sponsorships, and merchandise sales. 5. Digital Platforms and Subscription Services: The startup can explore revenue opportunities through digital platforms and subscription services, such as streaming platforms, video-on-demand services, and subscription-based content channels. By offering exclusive content or premium features, Dream Hunt Productions can attract subscribers and generate recurring revenue streams. Overall, Dream Hunt Productions employs a diversified revenue strategy that leverages its unique content, brand, and partnerships to generate sustainable income while advancing its mission of promoting diversity and inclusion in the media and entertainment industry. #contentcreation #filmmaking #digitalcontentagency #founderlife #agency

Hey folks, Have you ever stopped to consider how the media you consume influences your day-to-day interactions or overall mood? For Common Ground Studios, a creative agency rooted in storytelling and media production, the answer lies in the potential of Uplifting Media to drive bigger engagement and transformation in the Entertainment Industry. Their approach? Believe in the power of positivity. Common Ground harnesses uplifting media to amplify the engagement with life’s bigger possibilities. Founder Sarah Yourgrau and her team are passionate believers in the data-backed potential of uplifting media. Intrigued? You most definitely should be! Check out the article to understand why uplifting media matters, and how Common Ground Studios is using it to reshape and redefine the entertainment landscape: https://lnkd.in/eGKVC3zW Let the power of uplifting stories ignite your spirits and build a common ground for hope. #Startup #UpliftingMedia #EntertainmentIndustry #CommonGroundStudios #Positivity #Storytelling Common Ground Studios Sarah Yourgrau Remember, you have the power to change the narrative!

🚀 Exciting News in Entertainment & Investment! 💼 KKR is in advanced talks to invest Rs 2,087-2,505 crore ($250-300 million) for a significant stake in BookMyShow, backed by Reliance Industries Ltd. This marks a pivotal moment for Bigtree Entertainment, the operator of BookMyShow, and signifies a remarkable turnaround post-Covid! 🌐 📈 At a valuation of Rs 7,500 crore ($900 million), this investment by KKR is set to be the largest fund-raising round for BookMyShow, showcasing confidence in its resurgence. 🌟 🤝 Reliance unit Network18 holds the largest stake at 37%, with other stakeholders including Accel, Elevation Capital, Stripes Group, and TPG Growth. Founders, led by Ashish Hemrajani, also own a significant portion, making it a well-supported venture. 💪 💰 BookMyShow's journey includes a Series D round in 2018, raising $100 million at a pre-money valuation of $750 million. The company rebounded post-Covid, achieving a landmark by registering its first-ever profit in FY23 at Rs 85 crore. 📊 🌈 Experts acknowledge BookMyShow's exceptional performance, attributing it to a threefold scale-up and stringent cost control. The FY23 revenue surged to Rs 976 crore from Rs 277 crore in FY22, marking a 3.5x growth. 📈 🎬 The entertainment giant, known for selling program tickets and organizing events like Lollapalooza, has diversified its revenue streams. Approximately 65-70% of sales come from movie tickets, but the company is expanding into experiential events and live shows, catering to evolving consumer preferences. 🎤🎉 🍿 The resurgence of the Indian cinema industry, with hits like Pathaan, Gadar 2, Jawan, and Animal, has contributed to the rise in footfall at multiplexes. Gross collections of all movies in India soared over four times to Rs 10,541.42 crore in 2023 compared to 2022. 🎥💰 🔮 BookMyShow's success story extends beyond movies, as it became a partner for the majority of live events or concerts during FY23. Income from this segment spiked 9.5x to Rs 237 crore, showcasing its diversification strategy.🎶 🌐 With Entertainment spends expanding in India, BMS is well-positioned to capture the entertainment wallet share of the Indian consumer. Analysts view it as a compelling investment, especially for those bullish on movies and live entertainment. 🌍 💡 BookMyShow's resilience and strategic moves make it an attractive investment proposition. The KKR investment adds another chapter to its success story, highlighting its pivotal role in shaping the future of entertainment in India. 🚀🇮🇳 Parikshit Dar, and Rajesh Balpande #BookMyShow #EntertainmentRevolution #InvestmentNews #EntertainmentIndustry #KKRInvestment