NYU Stern School of Business

Undergraduate College

MKTG-UB.0040.004 (C55.0040): ENTERTAINMENT & MEDIA INDUSTRIES

Fall 2012

Instructor Details

Lieberman, Alvin

alieberm@stern.nyu.edu

212-998-0548

Tuesday 1-2:30pm and by appointment

Tisch Room 903

 

Course Meetings

W, 4:55pm to 6:10pm

Tisch T-UC24


Final Exam:

Schedule exceptions
    Class will not meet on:
    Class will meet on:

 

Course Description and Learning Goals

COURSE BACKGROUND

The course is designed to provide an overview of the entertainment and media industry.  It will help establish a framework for understanding the dynamics of the entertainment, media and technology industries, and their intersecting points. The course covers recent activities in key sectors of the entertainment universe: movies, home video, television, cable and DTH, publishing, and music. The course will explore concepts, frameworks, models, and analyze industry data that apply across the entertainment revenue stream spectrum including licensing, sponsorships and promotion.

COURSE OBJECTIVES

 

Course Outline

ENTERTAINMENT AND MEDIA INDUSTRIES

 

SESSION / DATE

1

September 5

COURSE INTRODUCTION

 

Framework for the course, review syllabus, provide assignments, explain content of course and the delivery, create teams

Overview of the entertainment industry -- Process, Perspectives and Principles

Ø  Hit driven businesses

Ø  Key role of  marketing

Ø  Importance of ancillary revenue streams

Ø  Role of technology

Ø  Barriers to entry

Ø  Nature of the product and consumption

Reading: EMR, Chapter 1,2

 

 

 

2

September 12

PERSPECTIVE AND OVERVIEW ON THE ENTERTAINMENT INDUSTRY

What is Entertainment?  The “Experience” economy. Competition for leisure time, content creation and consumption.  Lion King, Rule or Exception? Synergy: Myth or Mandate?  Key marketing issues.  Growth by sector, trend, major players and centers.


Discussion Questions

1. Why are consumers willing to pay more for an experience?

2. Why has the entertainment industry grown so rapidly?

3. What are some of the factors that determine whether a “new form” of entertainment will be successful?

4. How is marketing of entertainment products different from marketing traditional goods and services?

5. What are some of the factors underlying the growth (or decline) of different sectors of the entertainment industry?

Assignment for September 12: BUSINESS story from Variety Daily or Weekly,

Headline, Date, 3 paragraphs highlighting the story.

 

 

3

 September

19

FILM

Brief History. Search for market power. Making magic. Understanding production, distribution, exhibition and marketing components.

 

Reading: EMR, Chapter 3

Discussion Questions

The Walt Disney Case is Due for Write up and Discussion

 

1. After reading Chapter 3 of EMR and looking at slides on FILM,

Ø  What were the most important factors influencing the early development (to 1920) and subsequent development of the film industry.

Ø  Are there any lessons that can be learned that can be applied to the current situation?

Ø  What are the most important factors today?

2. What is affecting the studios practice of windowing?  Are there other examples of “windowing” in the entertainment industry?

 

 

4

September 26

FILM, THE SEQUEL

 

Come to class prepared to apply issues as they relate to the film industry.

Ø  How intense is the competitive rivalry?

Ø  What are some of the barriers to entry?

Ø  Identify possible substitutes. How “threatening” are they?

Ø  Who are the suppliers to the studios and how much bargaining power do they have?

Ø  Who are the buyers and what bargaining power do they have?

Ø  Should studios get back into the exhibition business

 

 

 

 

5

October 3

MIDTERM EXAM

 

6

October  10

BROADCAST I: NETWORK TV AND SYNDICATION

 

 Development of television.  Industry players.   

Original Three Networks, Programming Values, Share & Ratings, Shift in Audience Viewership, Local Television Stations, Changes in Affiliations, O & O. Marketing issues.

 

Discussion Questions

  1. What is the social impact of TV?
  2. What are the differences and what are the similarities between the development of the film industry and the TV industry?
  3. What specialized skills does a network need to have to be successful?
  4. How does (should) a network market itself?

 

Reading: EMR, Chapter 4

 

7

October 17

BROADCAST II: NETWORK TV AND SYNDICATION  CASE DISCUSSION

 

 

______________________________________________________________________________

 

8, 9

October  24, 31

CABLE, DTH, SATELLITE

 

Assignment due October 24—HBS CASE: CW

 

Development of Cable.  Economic underpinnings, Cable Basics.  Cable Regulations. MSO's and consolidation. Content and programming.  Key marketing challenges.

Discussion Questions

Discussion Questions

  1. What does the cable industry have to do to grow?
  2. What does Comcast need to do to grow?
  3. What is the “life-time value” of a cable subscriber?
  4. Which poses a bigger competitive threat to the typical MSO, telcos or DTH satellite?

 

 

 

October 24  OUTLINE for TERM PAPERS Due

October 31 COMCAST DISCUSSION one page + in class discussion

Read: EMR Chapter 5

Review for the Midterm: Short Answers and Essays


 

 

 

 10

November 7

PUBLISHING:

BOOKS, MAGAZINES, NEWSPAPERS AND THE INTERNET

 


   Key Sectors.  Books, magazines, newspapers.   Similarities and differences.  21st Century issues.

 

Discussion Questions

  1. Are e-books, webzines and online newspapers threats to their traditional counterparts?
  2. For mass-market paper back books, returns (books not sold and returned to the publisher) exceed 40%.  Why are they so high? What would you recommend to deal with the problem?
  3. Why is it so difficult to start a new magazine?
  4. One way for magazines to grow is to leverage content to other markets.  Why is it such an attractive strategy? What are some of the limitations to this strategy?
  5. Which of the newspaper revenue streams are most stable? Least stable?
  6. Newspapers rely heavily on advertising revenue.  Which ad revenue streams are most vulnerable to the Internet and why?

Reading: EMR, Chapter 6    

Case: Publishing HBS Grand Central Publishing Due

 

 

 

 11

November  14

MUSIC INDUSTRY

 


Brief History.  Key characteristics.  Major players.  Revenue streams.  Radio’s role.  21st Century Issues

Discussions Questions

1. Why is the music business in such tough shape today?

1.      What was the basis for market power pre 1920? Post 1950? Today?

2.      Which would you rather do and why?  Record a hit song? Write a hit song?

3.      What is the role of an independent promoter?

4.      How have changes in distribution helped the industry? Hurt the industry?

5.      Which of the 4 P’s is most important in the music business and why?

 

Case: Marvel Due

 

TERM PAPERS DUE

 

 12

November 28

 

 

13, 14                December 05, 12                        Presentations

 

TEAMS OF 4, 5 OR 6: PRESENT POWER POINT SUMMARY OF THEIR PAPERS

December 05: 10-12 MINUTES EACH SIX TEAMS

Dec. 12 : 10-12 MINUTES EACH FIVE TEAMS


 

Required Course Materials

REQUIRED READING

Textbook

The Entertainment Marketing Revolution, Lieberman & Esgate, Financial Times/Prentice Hall, 2002.
 

Cases:

Four Harvard cases – to write up

The Walt Disney Company: The Entertainment King            9-701-035

The CW: Launching a Television Network                            9-507-050

Grand Central Publishing (A)                                                 9-508-036

Marvel Enterprises, Inc.                                                          9-505-001

 

In-class discussion

Good idea or bad idea? Comcast’s Acquisition of NBC Universal

The case packet can be purchased through the NYU Bookstore in either print or digital form. If you choose to purchase the digital version of the case packet, you will still need to go to the NYU Bookstore. You will purchase a XanEdu sheet, listing the course number. After you pay at the register, you will receive an email with an access code. You will then need to set up a XanEdu account to download the packet.

 

Assessment Components

COURSE REQUIREMENTS:

Grades will be determined on the following basis:

Cases  15%, 15%, 15%

45%

Class participation/ attendance

10%, 05%

                                    15%

Paper/ Presentation  20%/20%

                                    40%

GUIDELINES FOR WRITTEN CASES

1.      All papers are to be typed, double-spaced; two pages (absolute maximum 2.5 pages).

2.      Please take time to organize your work so that it is clear and concise.

You may want to construct charts or exhibits to convey your thoughts concisely.

ASSIGNMENTS

Assignment #1 

 

You will locate a copy of the entertainment industry, trade magazine, VARIETY – known as the film, television, cable and theater bible. Please write a one page, 3-4 paragraph summary or analysis on an article that has appeared in your copy of VARIETY magazineON A FILM STUDIO, MAJOR, MINOR OR INDEPENDENT. JUST GIVE US THE HIGHLIGHTS OF THE STORY. 15 STUDENTS WILL BE ASKED TO QUICKLY GIVE THE HIGHLIGHTS FROM THEIR PAPERS   in the next class.

 

During the semester each student has a set of assignments that cover different aspects of the course and will help prepare students for taking other courses in the EMT program, as well as providing the basic knowledge required to assume managerial positions in the industries. The four deliverables are written responses to questions on cases. These must be submitted on time for class discussion and be no more than one plus pages in length:

CASES/ASSIGNMENTS

DUE DATES

Individual Names

              VARIETY article

September  12    

Everyone

 The Walt Disney Company

September 19

Last Name A-M

 CW

October 24

Last name N-Z

Comcast: Good or Bad News

October 31

Everyone

Publishing

November 7

Last Name A-M

Marvel Inc.

November 14

Last Name N-Z

Final Paper, Presentations

December 05, 12

Teams

DECONSTRUCTING the ENTERTAINMENT & MEDIA INDUSTRY

 

The entertainment and media industry is made up of more than 10 sectors.  We will cover the top 5 in this class in great detail from an institutional perspective. In addition we will examine sources of subsidiary revenue, including merchandising, licensing and branded integration. This is primarily a survey course. 

 

In order to gain a more detailed understanding, the assignment or team project will require research, analysis and an understanding of the sub-segments of these sectors. Technology has had an incredible impact on classic media, and has enhanced the distribution options for most if not all content. Consolidation and convergence have become the mantra of most E& M businesses. Along with the shock waves of acquisitions in the new media space, has come re-alignment of organizations as disparate as NBC and MTV. Another new phenomenon has been unbundling as companies shed lackluster divisions to make way for new investments.

 

In order for us to understand this phenomenon, we need to analyze the companies, their parts and the importance of these within the sectors in which they operate. The entertainment and media industry is once again on the verge of considerable change.

 

 


TERM PAPER ASSIGNMENT - Due November 28, 2011

 

A 20 page paper, double-spaced with bibliography, (please not just web listings) and any exhibits or graphs you with to include.  

The paper will be graded on the basis of content, clarity, grammar, spelling, organization, and innovative thinking.  Where material has been excerpted, footnotes must be used.

Four to Five members maximum for each team. The general categories from which companies will be selected are listed below. Each team will select one important and/or interesting company to analyze. We will not select an entire conglomerate, but pick one or two divisions to focus the paper. There are many single product companies in the media and entertainment industries

You will have some time during the first class to shift between teams, and then maintain that position through the balance of the term.

 

TEAM /SECTOR

INDEPENDENT FILM                   FEATURE FILM

ANIMATION                                    BROADCAST TV & LOCAL

SATELLITE RADIO                       CABLE BASIC

CABLE PREMIUM                         DIRECT TO THE HOME SATELLITE TV

PRERECORDED MUSIC              ELECTRONIC GAMES

SPORTS CABLE – PROFESSIONAL LEAGUES & TEAMS

PUBLISHING: BOOKS, MAGAZINES, e-BOOKS

BROADWAYTHEATER                 MUSIC LABELS 

CASINOS                                         

 

 

 

 

TERM PAPER STRUCTURE

 

The table of contents for every term paper must include a brief background on the sector,  select one important company in the sector for development, what are the core competencies of the company, strength and weaknesses,  list and examine the  competition ( major three or four companies in the sector ), one/two paragraphs each on the top executives in the selected company including; Head of Marketing, Head of Promotion, Head of Publicity, Head of Events,   select one recent successful marketing activity  and one unsuccessful marketing activity attributed , and explain your rationale.  Summarize with opportunities or changes expected for the future.  Explain impact of technology on these companies in this sub-sector

Provide a listing of the following positions with the names of the executives currently in position:

                                   

Here is a way to organize the paper:

1-2 pages – executive summary

2 pages on the background of the sector

3 pages on the company selected for analysis

2 pages on top/leading competitors (no more than four companies) in the sector

2 pages on the executives or top players in the leading companies

4 pages on the effective use of marketing in the company

3pages on the impact of technology within the company

2 – 3 pages future trends

Plus charts, graphs, bibliography

 

Assignment #3, Presentations Dates December 05, 12, 2012

 

The papers will be returned when graded.  In order for the whole class to benefit from these, every team will provide a 15-minute presentation on the highlights of their paper.  It can be PowerPoint.  Six teams will present each evening on dates described in the syllabus.

 

Questions for The Walt Disney Company Case:

 

1.      Why has been Disney been so successful for so long?

2.      What did Michael Eisner do to rejuvenate Disney? Specifically, how did he increase net income in the first four years?

3.      Has Disney diversified too far in recent years?

4.      Where did the Management of Creativity change under Eisner?

5.      How would you asses the job Bob Iger is doing? (You will need to do some research to answer this question?

 

 

Questions for the CW Case:

 

1.      What are the major challenges in launching a TV Network?

2.      The formation of the CW network caught News Corp by surprise. Evaluate their response. Would you have recommended a different response?

3.      Which three shows would you run and why?

4.      What are the best time slots for each of the three shows and why?

5.      What are the issue and problems with talent at the network?

 

 

Questions for the Grand Central Publishing Case:

 

1.      Evaluate the three options facing Kostolnyik and Raab.

2.      Select one as the “best” and indicate why.

3.      How much would you be willing to pay for the rights to Dewey? Indicate why.

4.      Where are the decisions made at the Publishing House?

5.      Who are the brands at a publishing house?

 

 

Questions for the Marvel Enterprises, Inc. Case:

 

1. Why was Marvel’s turnaround so successful? Would you characterize that success as a fluke? Is it sustainable? Why? How?

2. How important are each of Marvel’s three divisions – comic books, toys, and licensing – to its past and future performance?

3.  Is Marvel’s success due to only one character, Spider-man? How can Marvel develop its lesser-known characters?

4.  Was Disney’s Acquisition of Marvel a Good Idea or a Bad Idea?

 

Grading

See "Assessment Components"

 

Professional Responsibilities For This Course

INSTRUCTOR POLICIES

                 Attendance/Lateness:

·         Students are expected to attend each class and actively participate in discussion of key issues.  Absences/Tardiness will lower your class participation grade. Missing class or being late will adversely affect your grade. Class will start promptly at 3:30 and 4:55 and late students disrupt the learning environment for those who arrive on time.

·         Late assignments will not be accepted.

Cheating/Plagiarism:

·         The Stern School of Business Honor Code governs conduct in the course.

Class Participation:

·         It is essential that everyone contributes to class discussion. You are expected to have read all the assignments for the day's class.

·         Learning will come from each student trying to understand the issues, cases, and media statements. Continue with scheduled reading assignments even if the class activities at times fall behind schedule.

·         No Laptops except to take notes, and absolutely no texting, twittering or other smart phone activity

·         Class participation will be graded on the quality of the interaction and will be measured against these criteria:

o    Preparedness of the comments

o    Extent of knowledge

o    Statement of practical relevant experience

o    New insights and building on statements of others

 

Stern Policies

General Behavior
The School expects that students will conduct themselves with respect and professionalism toward faculty, students, and others present in class and will follow the rules laid down by the instructor for classroom behavior.  Students who fail to do so may be asked to leave the classroom. 

 

Collaboration on Graded Assignments
Students may not work together on graded assignment unless the instructor gives express permission. 

 

Course Evaluations
Course evaluations are important to us and to students who come after you.  Please complete them thoughtfully.

 

Academic Integrity

Integrity is critical to the learning process and to all that we do here at NYU Stern. As members of our community, all students agree to abide by the NYU Stern Student Code of Conduct, which includes a commitment to:

The entire Stern Student Code of Conduct applies to all students enrolled in Stern courses and can be found here:

Undergraduate College: http://www.stern.nyu.edu/uc/codeofconduct
Graduate Programs: http://w4.stern.nyu.edu/studentactivities/involved.cfm?doc_id=102505

To help ensure the integrity of our learning community, prose assignments you submit to Blackboard will be submitted to Turnitin.  Turnitin will compare your submission to a database of prior submissions to Turnitin, current and archived Web pages, periodicals, journals, and publications.  Additionally, your document will become part of the Turnitin database.

 

Recording of Classes

Your class may be recorded for educational purposes

 

Students with Disabilities

If you have a qualified disability and will require academic accommodation of any kind during this course, you must notify me at the beginning of the course and provide a letter from the Moses Center for Students with Disabilities (CSD, 998-4980, www.nyu.edu/csd) verifying your registration and outlining the accommodations they recommend.  If you will need to take an exam at the CSD, you must submit a completed Exam Accommodations Form to them at least one week prior to the scheduled exam time to be guaranteed accommodation.

 

Printer Friendly Version