3 elements of a successful entertainment venture
Last week I got a call from the founder of a new podcasting company.
As he explained the concept, I noticed there were 3 things he kept coming back to. They felt familiar.
I thought back to a meeting I took several years before with the CFO of a sizeable entertainment company in the UK.
At the time I was exploring options in the ‘buy’ side of the business (I’d spent the previous few years on the sell side as an agent).
As we discussed various nuances and fine points of building live event properties and marketing to millennials, the CFO took a pause and said;
‘You know what; there are only really 3 elements that matter. Talent, production and marketing. We can cut them up any way we like, but that’s what it all comes down to.’
This is reflected a number of times by CAA co-founder Michael Ovitz in his memoir ‘Who is Michael Ovitz?’ – from his formative work at CAA, to the ill-fated spells at AMG and Disney, and onto his roles with technology companies in Silicon Valley.
Whether it’s movies, festivals, podcasts, TV, eSports, conferences, or just about any creative endeavour that’s being put out into the world, you need that blend of Talent, Production, and Marketing.
And the real magic? Finding the alchemy between them.