5 minute read
From the President
A New Age of Discovery
As we start to return to a new sense of normalcy, uncovering hidden opportunities and vulnerabilities is critical.
“Become a free-range chicken.” – Joe Batista, Dell Technologies
This advice was offered by Dell’s chief creatologist as part of his opening keynote for MFM and BCCA’s (virtual) 2021 conference. His point was that you cannot scratch out new opportunities behind your desk; you need to get out where things are happening.
To see the possibilities, we must expose ourselves to new ideas. That’s also one of the themes running through this issue of TFM.
The conference had barely begun when we prepared the magazine’s content. Yet,
TFM editor, Janet Stilson, and MFM/ BCCA public relations consultant, Krista Van Lewen, were able to capture its invigorating spirit in part one of their conference wrap-up.
In addition to Batista’s call to stretch our imaginations, they look at the four technologies KTRK TV’s Tim Hinson advises we embrace and explain why LSU professor Tina Harris recommends advocate-mentors to develop the next generation of leaders. They also report on the business side of the entertainment phenomenon that is video games; the U.S. games industry went from $19.6 billion to $41.5 billion in 10 years.
Much of games’ growth can be attributed to savvy online marketing, explains New York University adjunct professor and video games advisor/investor Joost van Dreunen in a separate article, which is an excerpt from his recently released book. He says videos showing players in action help demystify complex games and extend game lifecycles.
Our media valuations feature, provided by Bond & Pecaro’s John Sanders, asks: “Did the COVID crisis mark the newspaper business’s final chapter, or should this period be seen as a new beginning?” He favors the later, again offering observations that apply across the media landscape.
Mary Hildebrand, from law firm Lowenstein Sandler LLP, addresses one of the downsides of the technological advances forced by stay-at-home orders: the increase in cyberattacks. As Hildebrand chillingly points out, “When employees are remote they are alone.” Fortunately, she recommends best practices and includes a sidebar listing what she calls “stand out” risk factors for companies with remote workers.
When employees are working remotely, they may be a little more casual about what could become copyright issues. Louis Levy from Lerman Senter PLLC lays out the “most common copyright myths” along with potential consequences for violating content owner rights. The transformation theme also runs through our four regular columns. “Dear Expert” authors Maxime Lefebvre and Joseph Weiss from Chubb provide advice about issues to consider before business travelers go back on the road. In “Credit Where Due,” Szabo Associates’ Robin Szabo offers a three-step plan to untangle the increasingly troublesome knots in advertising agency payment processes.
Sarah Levitt, this issue’s “Human Factor” contributor, reports on an increased interest in executive coaching. She provides 12 criteria to consider before hiring someone. Finally, in “Last Word,” KPMG’s Dan McGuire shares some learnings about what C-suite executives expect from tax department leaders and why individuals should consider a career in tax. His reasons include being at the center of decision-making.
This really is an exciting time to be working in media finance and accounting. MFM and BCCA members have a leg up because, as the articles in this issue demonstrate, we are committed to providing you with the information and connections you need to be successful.
Mary Collins is president and CEO of MFM and BCCA; Mary.Collins@MediaFinance.org.
EDITORIAL ADVISORY BOARD
SALLY BUCKMAN Member Lerman Senter PLLC DENISE DWYER Accounting Manager/Assistant Controller Morgan Murphy Media—West
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
MARY J. HILDEBRAND Lowenstein, Sandler LLP
MAXIME LEFEBVRE Chubb
SARAH LEVITT Magnificent Leadership Executive Forum Community
LOUIS J. LEVY Lerman Senter PLLC
DANIEL McGUIRE KPMG LLP
JOHN SANDERS Bond & Pecaro Inc.
JOOST VAN DREUNEN New York University
KRISTA VAN LEWEN MFM & BCCA Public Relations
JOSEPH WEISS Chubb
Thanks for 50 incredible years! We couldn’t have done it without you.
It’s not often a company accomplishes 50 years of serving clients, especially in the media business. But here we are, the first and largest media debt collection service, MORE focused than ever on delivering MORE debt dollars to our awesome clients. We also would not be here today without our talented employees who combine the art of diplomacy with savvy negotiation skills.
We asked a few clients to share why they continue to partner with us. Here’s a sampling of what they tell us. “...Szabo Associates more than delivers. They work as an extension of our internal teams helping us collect past due accounts. They are easy to work with, provide excellent service and their results have been outstanding...”
Christopher Sterling
Director of Credit & Collections Local Media Group Meredith
“It is with much enthusiasm that I am writing this letter on behalf of Szabo Associates, Inc. AARP began our business relationship with Szabo in June 2001 and for the past 20+ years we have been serviced with the utmost care and professionalism by their entire staff but specifically by Charles L. Langgood…We recommend Szabo for any of your collection needs and look forward to continuing our relationship with them.”
Linda Mitchell
AARP Credit & Accounts Receivable Manager
“I am so pleased with the incredible progress that has been made in the reduction of our DSO. Not only has the DSO for multiple PAGE members been reduced, Szabo has tackled some of the larger outstanding debts—all with great and continued success. I also want to compliment you on your customer service approach—always affable, but firm.” “We were looking for an affordable collection agency that would be courteous and non threatening to our clientele. Szabo has been that company! They took the time to understand who we are as a company and how we want our clients handled while also collecting over 90% of our debt. I would recommend Szabo to anyone who is searching for a collection agency.”
Darlene Mixon
Credit Manager Evening Post Publishing Group
Discover more reasons why we’ve thrived for 50 years and how we can help you recover MORE media debt dollars. Visit our new website Szabo.com to learn more.
