Business of Entertainment
Panel
Business of Entertainment
Panel
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BEVERLY HILLS - "Be a tough negotiator, but don't be tough just to be tough. If it doesn't hurt you and it helps them, give it to 'em -- that might help you later on when you deal with them on another issue next week." That was some of the advice given by entertainment industry executives at our Business of Entertainment Panel at Creative Artists Agency. More than 120 alums and friends attended the sold out panel, our third in this year's Yale in Hollywood panel series.
Our distinguished panelists included:
Topics discussed: Owning the Value Chain. Today's blockbuster movies like X-Men, Spiderman, Matrix, or Tomb Raider, make money not just from theatrical release, but also from books, video games, etc. Recongizing the revenue potential, some writers write a script AND a comic book or game backup to secure the rights for themselves. However, this strategy can backfire for a writer. Studios are making sure they own as many revenue-generating rights as possible, so if a studio sees a blockbuster action script, but the video game or book rights are not available, they may pass on the script altogether. Character Rights. Studios are becoming more and more savvy at locking in character rights for ALL characters - even minor ones - in a book which is being made into a movie. Product Placement. Product placement is becoming a more important revenue stream with the advent of PVRs. Issues: how to assign a value to a placement deal, and talent demanding more control/revenues from associating themselves with a product.
Financing. Financing a movie is becoming more difficult. Worldwide, financing has shifted from the Middle East in the 70s to Japan/Asia in the 80s to Germany/Europe in the 90s. But today, international sources to help fund movies have dried up. Where will the next wave come from? Piracy: Piracy is becoming a more serious issue, especially with Internet downloads. The recent leak of an unfinished copy of Universal's Hulk movie two weeks before release illustrates the prevalence of privacy. Studios are upset spending $50m+ for development/production and $30m+ for marketing a movie, only to see pirated copies obtained for free. Perks. Actors should try to limit the number of perks they request. High profile actors can request unreasonable perks ranging into the hundreds of thousands of extra dollars. The panel was co-sponsored by Loyola Law School, and lawyers earned MCLE credit. Loyola Law School is a State Bar approved provider of MCLE credit. Thanks to our panelists, CAA, our volunteers, and our audience!
Organizers: Ophir Finkelthal with Darcy Pollack, Vlasta Lebo, Michelle Gonzalez, Ilanna Bavli, Kevin Winston, and volunteers Craig Forrest, Vivian Umino. "I just wanted to thank you for your efforts in putting together
last night's Yale in Hollywood event. My friend Lorna and I had
a great time. I look forward to future events with the Yale
Club." "The event was awesome last night. I'd go to one of those every
week if I could." "I just wanted to thank you for organizing last night's event at
CAA. I thought it was a success. Though I'm not a Yalie, I was
glad to tag along with John to listen to a few of Hollywood's
biggest movers and shakers. I learned a great deal of the
business side of entertainment from the panel. An actor rarely
gets this kind of insight, let alone, one who's just graduated
from drama school. |
GUESTS
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