From the President

Eyes on the Consumer

In order to win in today’s world, focus on customers first, rather than perceived business needs, and success will follow.

“Art is going to win; it has leverage over pipes.” –Gary Vaynerchuk (a.k.a. Gary Vee)

Imade a point of attending Gary Vee’s “Attention Is the New Currency” keynote at this year’s Radio Show. It seemed a sure bet that he was going to say something interesting, and perhaps even controversial.

Vee’s message, in his quote above, is that the future will be based on giving the consumer what the consumer wants. Successful media companies will be those that embrace evolving content, distribution and service models.

It’s the same message I read in this issue’s “Future of Media” articles. Take, for instance, the piece about diginets from Bond & Pecaro’s John Sanders and Jake Lourim. They credit the success of these subchannel networks to both a simple business model and “a surprising viewer appetite for programming reruns.”

At the same time, the authors warn that these businesses may affect revenues, including those from retransmission consent. Vee would advise companies to find a way to make money serving their consumers.

High Radius’ Bill Weiss looks at ways to automate the credit and collections functions in a shared services center (SSC). The objective for deploying the robotic process automation and artificial intelligence solutions he outlines is to provide a better, faster experience for those business units.

While not strictly part of the special report, I would argue that Joost van Dreunen’s “Dear Expert” column about the actions of two behemoth esports investors surely fits the bill. Not only are there already 900 million viewers globally, van Dreunen argues that experiences with esports will help media companies adapt to internet content delivery.

Robin Szabo of Szabo Associates expands on the SSC function in his piece about consolidated back office solutions. He explains

that the business units are clients, and the SCC’s goal must be “no one does it as well, for less.” Another feature article, by TFM editor Janet Stilson, focuses on unions and deserves everyone’s attention. She’s done an outstanding job talking with an HR professional, a news director and a photojournalist to tease out what is important in labor negotiations. You will come away with a deeper appreciation for both sides of the discussion. Three regularly scheduled columns round out this issue. Sarah Levitt’s “Human Factor” submission covers a topic that is close to my heart – coaches and advisors. In “Credit Where Due,” Robin Szabo provides information about what must be Backoffice explained when refusing a business units are shared services request for credit. Finally, “Last Word,” by Lehrman Senter’s Nancy Ory, center clients, offers an update on the govand the SCC’s ernment actions around rogoal must be “no one does it as bocalls. As she points out, even when used for a valid business reason, companies well, for less.” should consider the advisability of using a communication method associated with scams and fraud. Vee admonishes media companies to consider the consumer. That’s something we also keep in mind at MFM and BCCA. You say you want more education and networking opportunities. We keep adding them. This year we created the BCCA Credit Workshop (which took place in October), a half-day program for video games finance professionals and a Media Tax Summit. (See event information about the Tax Summit on page 9.) We’ve also created discounted packages for Distance Learning Seminars. Vee’s final advice for Radio Show attendees was “bring value.” That’s what we aim for year-round. Mary Collins is president and CEO of MFM and BCCA; Mary.Collins@MediaFinance.org.

EDITORIAL ADVISORY BOARD

MICHAEL DENSON Director, Credit Services NMCP GREG LECHOWSKI Market Controller, Phoenix Bonneville International CAL MOSTELLA Vice President, Treasurer WarnerMedia JOHN SANDERS Principal Bond & Pecaro MEREDITH SENTER Member Lerman Senter PLLC C. ROBIN SZABO President Szabo Associates JAMIE GRANDE MFM/BCCA Staff Liaison

CONTRIBUTORS

SARAH LEVITT Magnificent Leadership

JAKE LOURIM Bond & Pecaro

NANCY A. ORY Lerman Senter PLLC

JOHN SANDERS Bond & Pecaro

C. ROBIN SZABO Szabo Associates

JOOST VAN DREUNEN Nielsen

BILL WEISS HighRadius