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Entertainment & Distribution > Midterm > Flashcards

Midterm Flashcards

1
Q

The six phases of a project include

A

development, pre-production, production, post-production, distribution and exhibition

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2
Q

The Five “P’s” of Marketing

A

Product, price, placement, promotion, profit

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3
Q

In terms of real monies to be spent, the contemporary film industry establishes a P&A budget generally defined as

A

A value of “50% of production budget.” That is: assume negative costs of $50 million, then the P&A budget would initially be set at 50% of that number or $25 million for a total outlay to produce, market and distribute the film of $75 million.

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4
Q

Negative costs

A

Total cost of producing the film

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5
Q

Above the line

A

Creative costs (story, script, producer, director, principal cast, supporting cast, etc)

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6
Q

Below the line

A

Production costs (direct production, pre-production, post-production, excludes anything above the line)

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7
Q

What is the balance between above and below the line

A 
1/3 = above
2/3 = below
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8
Q

P & A

A

Prints and Advertising

The expense for manufacturing the actual 35mm print or the hard drive for each theater’s film showing plus all other promotion (marketing & advertising) to support the film.

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9
Q

Exhibitors

A

The official title for theaters/theatre owners

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10
Q

Limited Release

A

Small number of screens, typically in select theaters in target cities, and typically less than 1,000 screens. Usually based on economics, marketing strategy, and/or award eligibility periods.

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11
Q

Wide Release

A

Typically considered 1,000 screens or more

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12
Q

How many more screens/cinemas are in North America?

A

Over 42,000 and 6,000 cinemas

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13
Q

Number of screens does not necessarily equal the number of theaters because why

A

“multiplex” theaters. That is, there are more screens than actual theater locations.

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14
Q

How much does it cost for a print or DCP (Digital Cinema Package) of the film?

A

$1000-$2000 for 35mm or $100-$150 for DCPS

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15
Q

Virtual Print Fee

A

The cost difference between a 35mm print and DCP

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16
Q

As of 2013, for the most part, the VPF has ceased since

A

1) well over 95% of all theaters are now converted to digital projection; and 2) According to recent trade articles, many film distributors have publicly announced they will no longer distribute films in 35mm format.

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17
Q

Platforming

A

Opening a film on a limited number of screens and markets, then increasing the number of screens and/or markets on subsequent weeks. Note: the increase is based on strategy and the film’s on-going success. This means the platforming is not necessarily defined by a weekly, bi-weekly, or even monthly expansion.

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18
Q

Bicycling

A

The act of manufacturing a limited number of prints and then rotating them (“bicycling”) them around the country to various theaters. Bicycling allows for a lower P&A expense

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19
Q

Sequencing

A

Refers to the pattern of distribution based on the principle of the “second best revenue alternative.” Sequential distribution means that films are normally distributed to the market that generates the highest marginal revenue over the least amount of time.

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20
Q

Rentals

A

The accurate term given to the exhibition of films by theater owners.

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21
Q

Four-walling

A

The “buying out” of an entire theater for a limited amount of time by the studio/distributor/production company.

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22
Q

How long can it take from outline or story treatment?

A

Over a year through arranging financing, final script, cast and crew. 18 months to bring a film from conception to final print stage followed by marketing and distribution.

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23
Q

Majors

A

Large organizations with production and distribution arms, extensive library assets, and in many cases with actual production facilities.

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24
Q

Are ticket sales for new film releases responsive to ticket prices?

A

No, they are not responsive to nominal changes. they are deemed to be inelastic.

There are a lot of costs due to move-going (babysitters, parking, popcorn)

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25
Q

Generally, demand for major-event movies are also essentially…

A

price- inelastic

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26
Q

Price-inelasticity

A

The price of movie tickets doesn’t change with the cost of producing, marketing and distributing the film or depending on popularity (high demand to view)

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27
Q

Why are 3D films more expensive?

A

Due to the increased costs for filming and projection equipment

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28
Q

A detailed movie budget

A

What the executive producer/producer presents to the financiers for investments to be made. This is essential

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29
Q

What numbers are given to film producers as a rough estimate and exact?

A

Rough- Budget needed during scriptwriting

Exact- Budget determined during pre-production

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30
Q

Preproduction

A

Represents the beginning of your project, and often is the easiest to project in terms of cost. This category should cover all expenses from the project’s inception through the night prior to the film’s start.

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31
Q

When is the bulk of the budget spent?

A

During production

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32
Q

Post Production Costs

A

Include an editing workstation, software, hardware, special effects software, a sound mixing program or mix‐in, salaries for the post‐production crew, test screenings, and other.

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33
Q

How much is budgeted for unexpected above and below the line expenses?

A

10% contingency

Studio films=no contingency, studio absorbs costs if it goes over

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34
Q

Project participation

A

Pays a percentage of calculated profit as determined by a fixed definition

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35
Q

Marketing is..

A

Consumers who want or need your product and how have the willingness and ability to buy

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36
Q

Segmentation

A

Principle that markets are heterogeneously definable by sameness. Provides starting point for analysis and planning in marketing.

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37
Q

What is the end goal of segmentation?

A

Maximizing market potential

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38
Q

Market segmentation

A

The process of dividing a large market into smaller segments of consumers who are similar in their characteristics, behavior, wants or needs.

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39
Q

Why is segmentation important?

A

It allows marketers to decide the characteristics and buying behavior of a group

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40
Q

Geographic segmentations

A

Breaks the market into different geographical units – towns, cities, states, regions.

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41
Q

Personal Demographics

A

Popular way of segmenting markets. People with similar needs and interests.

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42
Q

Psychographics

A

Divides consumers into groups based on lifestyle, personality, opinions, motives or interests

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43
Q

USP

A

Unique Selling Proposition, the key selling point for a product

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44
Q

Potentail marketing mediums/channels

A

Publicity (press release, feature stories, sneak peaks), Film festivals, Trailers, TV, Network, Cable, Spot-TV, newspapers, Radio, Internet, Tie-ins

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45
Q

Typical exhibition terms call for..

A

A sliding percentage of box-office gross after allowance for the exhibitor’s “nut.”

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46
Q

Nut

A

House expenses including, but not always limited to, location rents, telephone, electricity, insurance, mortgage payments, staff salaries, general overhead, etc.
*typically provides cushion of profit, negotiated or not

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47
Q

Standard Agreements

A

70% for first couple weeks after subtracting the nut, and exhibitor being 30% or less. Then biweeks adjusting by 10% (60:40, 50:50)

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48
Q

Aggregate Agreements

A

Distributor gets 55% and exhibitor gets 45% of ticket revenues without subtracting the nut before the split

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49
Q

If the movie doesn’t do as well as expected then..

A

The distributor usually has the right to a certain minimum floor payment (direct percentage usually more than 50% of box off receipts before subtracting the nut). With Aggregate, no floor payment is needed

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50
Q

Potential Revenue Streams

A

Box-office, pay/on-demand TV, Internet, DVD sales, DVD rentals, Network TV< Syndicated TV

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51
Q

SVOD

A

Subscription Video on Demand - you enter into an agreement

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52
Q

TVOD

A

Transactional Video on Demand - you pay depending on what you want to watch

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53
Q

AVOD

A

Advertising Video on Demand - you pay with your eye balls instead of credit card (Youtube)

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54
Q

The goal of broadcast networks, local station and basic cable

A

Maximize the size of an audience targeted by advertisers

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55
Q

The goal of specialty cable is

A

To attract the most viewers possible from the target audience

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56
Q

The goal of public TV station

A

To provide altrenative educational/informational programming

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57
Q

Network TV comes from..

A

Film Studios, indépendant producers, in-house programming

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58
Q

Cable networks often create and produce their own programming…

A

or buy programming from syndications or buy programming from independent producers or production houses

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59
Q

What did Financial Syndication open up?

A

Studios can own networks and networks can own studios - kept TV networks from becoming too powerful

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60
Q

Syndicated programming is sold by who?

A

Distribution companies to local broadcast stations and cablenetworks

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61
Q

First-run syndication refers to

A

Programs produced primarily for sale to individual stations (for example, Dr. Phil, Judge Judy, Wheel of Fortune, Ellen, etc.).

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62
Q

Off-network syndication refers to

A

Programs that have previously aired on a broadcast network (for example: Law & Order; Blue Bloods; Seinfeld, Two and Half Men, Everybody Loves Raymond, Friends, Andy Griffith Show)

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63
Q

Syndicated prices are based on…

A

market size, the number of “runs” per episode, the number of episodes in the syndicated package, the length of the agreement.

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64
Q

First-run prices are based on…

A

Annual or multiple-year contract

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65
Q

How many stations are in America?

A

Approx. 1,800

Including digital cable device, there’s nearly 1,000

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66
Q

Day-part

A

programming by the time of day to hit a targeted viewing audience

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67
Q

Rating Points

A

The percentage of all TV-owning households tuned to a particular show

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68
Q

How many households with TV sets/people per house

A

118.4 million/2.5 per household

69
Q

Nielsen uses a technique called

A

statistical sampling to rate the shows

70
Q

Advertisers pay to air their commercials on TV programs using rates that are based on

A

Nielsen’s Data

71
Q

Programmers also use Nielsen’s data to decide…

A

Which shows to keep and which to cancel.

72
Q

Share

A

The percentage of all “switched on” sets tuned to a show. Measures show compared to competitors in time slot

73
Q

DMA, ADI, TMA

A

Designated Marketing Areas, Areas of Dominant Influence, Television Market Areas,

74
Q

Sweeps

A

Specific time periods in the year which advertising rates for upcoming periods are established

75
Q

Sweep periods

A

November, February (stay-at-home viewing), May (effects new fall shows), July

76
Q

National (network) ads

A

Commercials purchased at the network and run across all of the network’s affiliates without exception.

77
Q

National spot ads

A

Commercials by a “national brand” that are purchased in specific local markets and at the local station level.

78
Q

GRP (Gross Rating Points)

A

The sum of all ratings figures

79
Q

Reach

A

The percentage of households or target audience exposed to a message at least once over a pre-determined span

80
Q

Frequency

A

The number of times a ad is used during a period of time

81
Q

What is the compensation for affiliates and networks

A

Affiliates receive cash from networks, advertisers and other paid programming (dependent). Networks are compensated by advertisers and/or other paid programming

82
Q

Upfronts

A

When better rated spots are sold to big advertisers who contract for large spot schedules. Provides firm revenue

83
Q

Duplication of Viewing Law

A

The percentage of the audience of program B which also watches program A simply varies with the rating of program A, with only small deviations.

84
Q

The Double Jeopardy Effect

A

When viewers of programs with low ratings are less loyal than viewers of programs with high ratings. Spiral effect of lower ratings=less views

85
Q

Stripping

A

The continuous use of episodes over several days per week.

86
Q

Lead-off

A

Placing the strongest program in the first position of the daypart to attract the largest possible audience.

87
Q

Hammocking

A

Placing a new or weaker show between two strong programs.

88
Q

Lead-in

A

Placing a strong program before a new or weaker show

89
Q

Block Programming

A

Placing programs of the same genre back-to-back.

90
Q

Tent-Poling

A

Using the strongest program to anchor the schedule at 9 p.m.

91
Q

Counter-Programming

A

Offering a programming slate that attracts an audience different from that of the competition.

92
Q

Stunting

A

Doing anything unusual to the regular lineup.

93
Q

Bridging

A

Rarely used strategy of starting an hour program on the half hour to get a head start on the competition.

94
Q

Returns Reserve

A

a % of sales revenue owed to the record company/book publisher/DVD company by the distributor but withheld from any payments due at that time, but they are paid out at a future date per the contract

95
Q

Why do we have returns reserve?

A

to protect the distributor from overpaying the record company/book publisher/DVD company on product that may be returned by retailers.

96
Q

SRP

A

Suggested Retail Price

97
Q

Recorded music, DVD and book retailers can be segmented into

A

1) mass merchants;
2) “big-box” stores;
3) independent stores;
4) gift stores;
5) specialty stores; e-commere/e-tailers/digital stores.

98
Q

Brick & Mortar

A

Physical, geographic stores

99
Q

Click & Mortar

A

Online/e-commerce stores

100
Q

Vertical Restraints

A

Are agreements between firms or individuals at different levels of the production and distribution process

101
Q

Purpose of vertical/horizontal restraints

A

To prevent resellers from competing on price and driving down profits

102
Q

Vertical Price Restraints

A

Along the same supply chain with the intent to fix the price or control the supply of a category of goods or services. Illegal

103
Q

Resale Price Maintenance

A

ensures fair return on investment for both manufacturer and reseller.. Rule of reason.

104
Q

Rule of Reasons developed by

A

the United States Supreme Court in its interpretation of the Sherman Antitrust Act.

105
Q

Rule of Reason

A

only combinations and contracts unreasonably restraining trade are subject to actions under the anti-trust laws and that size and possession of monopoly power are not illegal.”

106
Q

One sheet (product one sheet, product sheet, new release sheet, release sheet, tip sheet)

A

Standard selling tool for manufacturers and distributors

107
Q

One sheet includes

A
  1. cover image or film key art
  2. title/artist/director/cast/etc.
  3. mini-bio or summary of the
  4. project
  5. sales points
  6. SRP
  7. Co-op marketing
  8. budgets/terms/plans
  9. Sales history (if any)
  10. Merchandising tools
  11. Marketing highlights
  12. Promotion plans
  13. Publicity plans/highlights
  14. Tour schedule
  15. UPC or ISBN numbers and bar codes
  16. Appropriate company/organization logos
108
Q

Sales Cycle

A

The time period it takes a distributor to solicit orders from its complete retail account base

109
Q

A distributor bases its initial manufacturing order numbers on..

A

Sales orders

110
Q

Street Date

A

The advertised date than an artists new CD release will appear in retail stores

111
Q

“Just In Time Management”

A

Inventory management strategy that strives to improve a business’s return on investment by reducing in-process inventory and associated carrying costs.

112
Q

Two main segments of book publishing

A

Trade & Educational/professioanl

113
Q

Trade Books

A

Hit driven, mostly fiction/non-fiction

114
Q

Primary book configurations

A

“Hardcover”; “Paperback”; “Mass Market”; “E-book”; “Audiobook”

115
Q

How many book titles are released each year in the US?

A

Over 1 million (4000,000-major publishers, rest are small/self- publishers

116
Q

The average book released in the United States sells approximately

A

3,000-4,000 units.

117
Q

Plan-o-gram

A

Illustrates how and where retail products should be placed on store shelves increase purchases. Established by retailer, never distributor/manufacturer

118
Q

“Open-to-buy” budget

A

The budget allocated by a retailer to bring in product in any particular period is

119
Q

Free Standing Insert (FSI)

A

marketing tool often dubbed a “circular” and found extensively in Sunday newspapers that retailers use to advertise products directly to their community customer base.

120
Q

“Price & Position” program is

A

a co-operative marketing and sales program whose aim is for a manufacturer to obtain high visibility in-store placement along with a price-pointing strategy to generate quick sell-through.

121
Q

Purpose of price & position program

A

1) subsidized by the manufacturer or distributor; 2) used to give product high visibility with a discount price point thus encouraging purchases by consumers.

122
Q

End Cap

A

display location located at the end of a shelving row in a store

123
Q

Pick Bin

A

area in distributors warehouse where manufacturers products is physically located.

124
Q

E-Readers

A

electronic book reader

125
Q

Popular E readeres

A

Kindle, Nook, Reader, Bebook, iPad

126
Q

Effective in-store merchandising tools include:

A 
Floor Display
Point of Sale Video
End Cap Display
Poster Displays
Free Standing Inserts
127
Q

Distribution Fees calculated as..

A

percentage of wholesale price

128
Q

recorded music and books distribution fee of

A

18-33% of the wholesale selling price

129
Q

Marketing costs for recorded music, dvds, and books are…

A

between 6-12% of net sales rev

130
Q

Recorded music estimates initial marketing on a cost per unit sold basis of

A

$1.50 per unit basis

131
Q

Authors usually receive royalties of …

A

15-30% of net wholesale revenue

132
Q

Book distributors offer a discount to retailers of

A

42-55% of SRP

133
Q

Average every day discounting is roughly…

A

44-48% off SRP

134
Q

Net Pricing is…

A

final price after any cash allowance or deductions are considered.

135
Q

Reasons for Net Pricing

A

cost of manufacturing, cost of a licenses or the desirability of the product.

136
Q

Music Distributors often work on a wholesale pricing principle called Net pricing which means…

A

distributor is selling an item at a specific price per unit

137
Q

retailers have the right to return ___ ___ product for credit on their invoice

A

Slow selling

138
Q

Average CD returns are about …

A

20-30% of total units shipped

139
Q

Returns Authorization is needed for

A

Retailers requesting to send product back to the distributor

140
Q

returns reserve is

A

percentage of sales revenue contractually owed by the distributor for the label/book publisher/DVD or game studio

141
Q

UPC

A

Universal Product Code

142
Q

UPCs used by businesses must be capable of processing

A

EAN-8, EAN-13, and 12 digit UPC symbols.

143
Q

what is a Barcode? JUST GUESS

A

black vertical bars with the spaces. duh.

144
Q

company prefix is assigned to your company by…

A

GS1 US. each one is unique

145
Q

Item Reference is

A

A number assigned by your company. 1 - 5 digits

146
Q

International Standard Book Number (ISBN) is a…

A

10 digit number that uniquely identifies books

147
Q

Purpose of the ISBN is

A

is to establish and identify one title from one specific publisher

148
Q

Four Parts of ISBN:

A
  1. group or country identifier to ID a groups of publishers
  2. publisher identity to ID a particular publisher within the group
  3. Title Identity to ID a particular title
  4. check digit is the single digit at the end of the ISBN which validates the ISBN
149
Q

SKU, Stock Keeping Unit is….

A

used for companies to systematically track inventory or product availability. Assigned at the merchant level.

150
Q

SKU is assigned to each

A

unit. DUH.

151
Q

Other tracking methods besides the SKU are

A

UPC, EAN, and GTTN

152
Q

ISRC, International Standard Recording Code is…

A

internationally recognized ID tool for sound and music video recordings.

153
Q

ISRC is uniquely..

A

permanently ID’s the recording. regardless of format and changing of ownership

154
Q

ISRC does not ID what…

A

The song itself. ONLY RECORDINGS

155
Q

ISRC codes are always __ characters long.

A

12.

156
Q

ISRC Codes consisted of four parts:

A
  1. first two characters are alpha-2 country code
  2. next three characters are the ID’s organization which registered the code
  3. next two characters for the year of registration
  4. last 5 digits ID the particular sound recording
157
Q

Digital distribution generally covers the following areas::

A

Streaming, downloading, subscriptions, mobile, and kiosks

158
Q

B-to-B

A

Selling the sells aka business to business; Example = Distributors

159
Q

B-to-C

A

Business to Consumer; example = retailers

160
Q

One stops

A

wholesaler service where retailers can order ALL product they need at a single source.

161
Q

Rack Jobbers

A

firms that are retained by retailers to manager the retailers music sections INSIDE the store

162
Q

Selling Cycles typically range from ___ weeks (for mainstream music), to ___ weeks (for Jesus music)

A

2 weeks; 8-9 weeks

163
Q

The completion of the selling cycle allows distributors to…

A

aggregate (or Total) sale orders and accurately estimate the initial manufacturing units.

164
Q

a company will manufacture 10%-15% additional units above the aggregated initial orders because …

A

The amount should cover orders and early re-orders without much risk of having over-manufactured too much product IF actual consumer demand did not meet the initial order quantities.

165
Q

Individual video game titles sell less than _____ unites during its life cycle

A

150,000

166
Q

Roughly __ % of all video game sales happen during the 4th quarter of each year ; Why??

A

66; because of Thanksgiving, Black Friday, and Cyber Monday.

167
Q

Third party game developers will pay hardware manufacture between ___ per game unit sold as a royalty for allowing games to be played on those consoles

A

$5 - $10

168
Q

Film Studios, TV production companies, and book publisher may charge a game developers a …

A

Licensing fee of 10 - 20% of NET SALES REVENUE to license the use of intellectual property to create a game

Entertainment & Distribution (1 decks)

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