​PREAMBLE: Three years ago, before our colleagues were heading off to Cannes, we posted a short article about branding. We find now, in 2017, that our advice is the same: Go to build your brand. As an investment banker, brand adviser, and appraiser of entertainment properties - we have witnessed film sales companies and distributors make many of the same mistakes. They continue to acquire (and sell) movies and documentaries based on the metrics of the deal, and not based on a long-term strategy to build their brand, nor to establish a recognized global presence.
Our firm is all about helping companies build and realize their highest value: whether it is in film, television, music, video games, publishing or online. As you get ready to go to Cannes, we want you to think about what makes your company valuable, and to consider what you can do to enhance that value as you do your work of buying and selling films.
Many companies go from show to show, building their catalogs and selling territories without giving much thought to their overall company image or “brand.” But a company needs a brand. It needs to be known for something more than just an “eclectic collection” of films.
That is, in fact, what a lot of the foreign sales (and distribution) companies have become: A mixed assortment of movies and documentaries. We cannot discern much of a plan or corporate image from their list of titles accumulated over the years. Most titles were picked up because they were priced right and expedient, and the acquisition team knew they could sell them to a certain number of buyers. Not much thought was given to how this or that title fits into the overall company “brand,” or how a title will enhance the value of the corporation (and its library), as a whole. It often gets down to price, terms and sell-ability. Deal done.
You are what you buy (and sell).
We realize that building your corporate brand is crucial to the long-term successful growth and financial health of your company. What are you known for? Why do buyers want the films that you take to market? When you want to recruit top talent for your team, why do they want to work for your company?
​Let’s picture in our minds some of the following companies: EuropaCorp, Fortitude International, MarVista Entertainment, Lakeshore Entertainment, IFC, STX, Archstone, A24, Participant Media, and Electric Entertainment. We pretty much know what type of films (and television projects) they create, buy, sell, and release. They are brand conscious.
You should be brand conscious, too.
​Buying and selling films is more about personal relationships than it is about moving inventory. Often a film you acquire from a producer is because you sold their last film – and you may want their next one. But how does that relationship and property help your company build your brand? What is your long-term strategy, and how does this film help you?
Ten years from now, will you look back and be glad that you acquired and sold this or that film, or will it be just another brick in the wall?
We advise you to build your brand. Establish your niche in the vast entertainment business. Movies are not bricks.
​Acquire only films that will enhance the overall value of your company, and give you a catalog of titles that others would admire and wish they had acquired.
When we compromise our values for what is financially expedient, we lose sight of why we are in this business in the first place. Sure, we want to make money. But in the end, we want to be remembered for having done more than just making a profit – we want to have done something great.
​“It all comes back to feeling relevant. It is that search for relevance that drives even successful pop culture purveyors to strive to make and disseminate better quality, artistic entertainment… they don’t just want to make a buck, they actually want to make a difference. Touch people’s lives. Move the world.” ~ Stephen J. Kerr | BMC Online, June 6, 2014.
It does not matter if you have the best collection of creature features, Anime, Sci-Fi, romantic comedies, rock docs, international spy thrillers… or kid vid.
A lot of people talk about branding. Few companies (and we know who they are) in our business actually do it.
As you get ready to embark for France in 2017, think about your long-term goals and objectives. Carefully consider what you want your company to be known for; and what you - yourself - want to be remembered for.