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THEUNIVERSITYOFTEXASATLOSANGELES
ENTERTAINMENTINDUSTRY–THEBIGPICTURE
COM324-1RTF347C
INSTRUCTOR:STUARTG.POLLOKPhone:3238423842Email:______________
UTLACENTER,BURBANK,CALIFORNIASemesterCreditHours:3
OfficeHoursWednesdays6:30-7:00PMandByAppointment
FALL2017CourseOverviewThisclassisanoverviewofthebusinessoffilmandmediafocusedonpast,presentandemergingpracticesfrombothamajormotionpicturestudioandindependentfilmperspectiveconcentratingontheeconomicsandbusinessmodels–“followthemoney”-thatdriveshowbusinessaswellasexposuretothecriticalpracticalexpertiserequiredtosatisfythemulti-faceteddemandsofproducingcontentintheever-changingmedialandscape.Thedisruptinginfluenceoftechnologicaladvances,changingconsumerhabitsandtheriseof‘international’willbeanalyzedaswellasthetensionsbetweencontent/distribution,business/creative,andrisk/reward,tonamebutafewparadigms,thatareatthecoreofunderstandingtheeternalbeatingheartoftheentertainmentindustry.Theclassisstructuredintwohalves,withthe‘eco-systems’featuredinthefirsthalfoftheSemesterleadingtothemid-termexamfollowedbythepracticalitiesofproducingleadinguptothefinalexam.Informationwillbepresentedinclassfromyourinstructor,handouts,readingassignmentsandindustryprofessionals.LearningObjectives
1. Analyzetherevenuestructureformajormotionpicturestudiofilms2. Analyzetherevenuestructureforindependentfilms3. Monitoremergingdisruptionfactorswithinthefilmindustry4. Identifyrecurringthemes,businessmodelsandtheroleoftechnologyinfilm5. Identify,manageandpresentfinancing,recoupment,collateral,and
‘comparables’analysissolutionsforindividualproductions6. Createandpresentabusinesscaseforaselectedentertainmentproperty
Assignments
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PertheCanvassyllabusdatesyoucaninstantlyaccess,youwillfindwrittenassignmentsareduetobepostedontoCanvasnolaterthanthecommencementofthenextclasssession(e.g.:anassignmentassignedonWednesday,itwouldbeduethefollowingWednesday.)Pleasedonotsubmitprintedmaterialunlessrequested.EmailALLwrittenassignments(double-spaced)to___________.Include“TheBigPictureAssignment”inthesubjectline.Makesureyournameappearsonthetitleofthedocumentandthecalendardateoftheassignmentonthepaperitself,notjustonthecoveringletter.Extensionswillbedifficulttocomeby.However,ifextenuatingcircumstancesarise,likeadeathinthefamilyoryourownillness,pleasenotifymeviatextoremailbeforethedeadlinesothatthemattermaybediscussed.SpecialGuestSpeakersIndustryprofessionalswillbescheduledtooffertheirinsightsandpersonalexperiences.Owingtounpredictableschedules,theremaybelastminutechangeswhichwillbecommunicatedtoallstudentsviatheclassFacebookpageandemail.Youwillbeexpectedtoresearchthespeakers,companies,andtheirworkaheadoftimetoaskthemquestionsinclassoronlocationINADDITIONtotheassignedquestionsyouwillbepostingonCanvas.Thiswillbepartofyourgrade.Thisisauniqueopportunityforyoutospeakdirectlywithprofessionals.ThesevisitsarehighlyvaluableandyouwillbeexpectedtoparticipateintheQ&Aforeachspeaker.Absences/TardySeeabovein“Assignments.”Allowplentyoftimeforyourcommute,asL.A.trafficisbothcongestedandunpredictable.Ifyouhavealegitimateschedulingproblem(thisdoesNOTincludebusinesslunches,familyvisitsandscreenings!)Pleasecontactmepriortoclassviaemail,text,oraphonecalltotheoffice([323-512-9200]).EveryOn-Timeclassattendancewillfullycounttowardsyoursemesterattendancegrade,howevereachinstanceofbeingTARDYwithoutanypriorapprovalwillresultonyouonlyreceiving80%ofthatevening’sclassattendancecreditandanABSENCEwillresultin0%creditforthatevening’sclassattendancecreditunlessdiscussedwithmepriortotheclassdate.EarlyexitswillhavethesameeffectasaTARDY.CRITICALNOTE:AtNOtimemayyourinternshipbeusedasanexcuseforbeinglateormissingclass.Yourinternshiphostshouldaccommodateyourneedtofulfillyourpunctualclassroomattendance.Itisyourresponsibilitytocommunicateyourscheduleaheadoftimewithyourhostsotheycanhelpyoumakethishappen.
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RecommendedIndustryLinksDeadlineHollywoodhttp://www.deadline.comVarietyhttp://www.variety.comHollywoodReporterhttp://www.hollywoodreporter.comTheWraphttp://www.thewrap.comImdbpro.comhttp://www.imdbpro.comBoxOfficeMojohttp://www.Boxofficemojo.comTheNumbershttp://www.the-numbers.comRecommendedIndustryBookstoresSAMUELFRENCH:7623SunsetBlvd.,L.AWRITERSSTORE:2040WestwoodBlvd,WestL.A.ClassroomEtiquettePolicyTheuseofcellphones,textmessagingandallformsofoutside-communicationduringclasshoursarenotacceptableandwillnotbetolerated.Laptops(withoutwifi),however,AREanacceptableformofnote-takinginthisclass.NOWORKINGONOUTSIDECLASSASSISGNMENTSORSOCIALNETWORKINGDURINGCLASSTIME.LearningOutcomes Assessment %ofGradeDesign,produce,explain,andapplykeywords/conceptsrelatedtobusinessofentertainment
FinalExam Paper20%Presentation20%
Critiqueandexplainaprofessionalbusinessandcareer
Mid-Term Paper10%Presentation10%
Understand,explainandcreatematerials
ClassAssignments 20%
Engageincriticaldialogueandcollaborativeknowledge-building
AttendanceandIn-classparticipation
Attendance10%In-class10%
TotalCourseGradeis100%andpresentationanddeliveryofFinalProjectismandatory.LetterGrade
Range
A 100%to94.0% A- <94.0%to90.0%
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LetterGrade
Range
B+ <90.0%o87.0% B <87.0%to84.0% B- <84.0%to80.0% C+ <80.0%to77.0% C <77.0%to74.0% C- <74.0%to70.0% D+ <70.0%to67.0% D <67.0%to64.0% D- <64.0%to61.0% F <61.0%to0.0% ServicesforStudentswithDisabilitiesStudentswithadocumenteddisabilitymayrequestappropriateacademicaccommodationsfromtheDivisionofDiversityandCommunityEngagement,ServicesforStudentswithDisabilities,512-471-6259(voice)or512-410-6644(videophone).Pleaseinformmewithinthefirstthreeweeksofclassifyouhaveaphysical,learning,sensory,orpsychologicaldisabilityandneedaccommodationtotakepartinortocompletetherequiredworkforthiscourse.UniversityEmailNotificationPolicy:AllstudentsshouldbecomefamiliarwiththeUniversity’sofficialemailstudentnotificationpolicy.Itisthestudent’sresponsibilitytokeeptheUniversityinformedastochangesinhisorheremailaddress.StudentsareexpectedtocheckemailonafrequentandregularbasisinordertostaycurrentwithUniversity-relatedcommunications,recognizingthatcertaincommunicationsmaybetime-critical.Itisrecommendedthatemailbecheckeddaily,butataminimum,twiceperweek.Thecompletetextofthispolicyandinstructionsforupdatingyoure-mailaddressareavailableathttps://cio.utexas.edu/policies/university-electronic-mail-student-notification-policy.Inthiscourse,emailwillbeusedasameansofcommunicationwithstudents.Youwillberesponsibleforcheckingyouremailregularlyforclassworkandannouncements.ReligiousHolidays:Religiousholydayssometimesconflictwithclassandexaminationschedules.Ifyoumissanassignmentorotherprojectduetothe
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observanceofareligiousholydayyouwillbegivenanopportunitytocompletetheworkmissedwithinareasonabletimeaftertheabsence.ItisthepolicyoftheUniversityofTexasatAustinthatyoumustnotifyyourinstructoratleastfourteendayspriortotheclassesscheduledondatesyouwillbeabsenttoobserveareligiousholyday.TheUniversityofTexasHonorCode:ThecorevaluesofTheUniversityofTexasatAustinarelearning,discovery,freedom,leadership,individualopportunity,andresponsibility.EachmemberoftheUniversityisexpectedtoupholdthesevaluesthroughintegrity,honesty,trust,fairness,andrespecttowardpeersandcommunity.ScholasticDishonesty:TheUniversitydefinesacademicdishonestyascheating,plagiarism,unauthorizedcollaboration,falsifyingacademicrecords,andanyactdesignedtoavoidparticipatinghonestlyinthelearningprocess.Scholasticdishonestyalsoincludes,butisnotlimitedto,providingfalseormisleadinginformationtoreceiveapostponementoranextensiononatest,quiz,orotherassignment,andsubmissionofessentiallythesamewrittenassignmentfortwocourseswithoutthepriorpermissionoftheinstructor.Byacceptingthissyllabus,youhaveagreedtotheseguidelinesandmustadheretothem.Scholasticdishonestydamagesboththestudent’slearningexperienceandreadinessforthefuturedemandsofawork-career.StudentswhoviolateUniversityrulesonscholasticdishonestyaresubjecttodisciplinarypenalties,includingthepossibilityoffailureinthecourseand/ordismissalfromtheUniversity.Moreinformationonstudentconductandacademicintegrityisavailableathttp://deanofstudents.utexas.edu/conduct/academicintegrity.php.WEEKLYSCHEDULE(SubjecttoChange)CLASS#1:INTRODUCTIONS/STATEOFTHEINDUSTRY/CLASSMETHODOLOGY(Wed.Aug23)
• Introductions• CurrentStateofthefilmandmediaindustry• ClassMethodology:
o HowHollywoodWorks+Economicso StudiocfIndependentcfDisruptors/digitalcfTVo RoleofTechnologyo Paradigms:
§ Business/Creative§ Content/Distribution§ Risk/Reward-‘FollowTheMoney’
o Learningthelanguageofsavvy
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• ThePlayers:o Talent:Writers(WGA);Directors(DGA);Actors(SAG-AFTRA);IATSE;
Teamsterso Producers–whatisaproducer?o Representatives:Lawyers;Agents;Managers;Publicistso Studiosandmini-majors;IndieDistributors;Disruptorso Indieplayers:SalesAgents;Buyer’sReps;CollectionAgents;
CompletionBondcompanies;Insurerso ‘Independent’FilmFinanciers;Banks;Bankequivalents;Private
Equity;Brands;Crowdfunding
ClassAssignment:Theclasswillbedividedintogroupsandeachgroupwillberequiredtoprovidetwobrief(1pageeach)papersinbulletpointformat,ANDtopresentthepapersinpersonatClass#2toyourclassmates,focusedon:
(i) ThehistoryofcinemaintheU.S.foreachdecadesince1900(eachgroupwillbeassignedonedecade);AND
(ii) Thenotablefilmhighlightsofoneinternationalterritory(eachgroupwillbeassignedonecountry).
Eachpaperwillfocusonthecreative(films/filmmakers),businessandtechnologicaldevelopments.ReadingAssignment:‘TheBigPicture’byEdwardJayEpstein,pages3to125.CLASS#2:AHISTORYOFHOLLYWOOD(Wed,Aug30)
• PresentationofClassAssignments• AHistoryoftheU.S.Industry:
o Creatorso ContractSystemo EraofLiberalization
ClassAssignment:ReviewandbefamiliarwiththeassignedhandoutstudiofilmfinancingmodelhandoutforparticipationinClass#3.CLASS#3:HOWTHEMAJORMOTIONPICTURESYSTEMWORKS(Thur.Sep7–classpushedonedayduetoLaborDayholiday)GUESTSPEAKER:TBD
• HowTheStudioSystemWorkso WhatisaStudioFilm?o Distributors,Banks&IPownerso RelationshipwithExhibitors
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o FilmmakerRelationshipso FinancingRelationshipso LittleYes/BigYes
• ‘FollowtheMoney’–TheDomesticEconomics:
o ReleaseWindowso FilmRentalso Costsoff-the-tops(1-7)o P&Ao DistributionFeeo HomeEntertainmento PayTelevisiono Cable/FreeTelevisiono Syndicationo Libraryo OtherRevenues
§ Merchandising§ ThemeParks§ Retail
• InternationalReleaseo Day-&-Dateo Major/MinorTerritorieso ReleaseWindowso Piracyterritorieso China
ClassAssignment:Prepareapaper/modelthatestimates,andshowsthecalculations,ofthetotalnetrevenuesdomesticallyforanymoviereleasedtheatricallybyamajormotionpicturestudiointhelastfiveyearsthatgarneredmorethan$10mindomesticboxoffice.Bepreparedtopresentanddiscussyourpaper/modelinClass#4.A1-pageSummaryoftheGuestSpeaker’sinsights.ReadingAssignment:ReviewandbefamiliarwiththeassignedindependentfilmfinancingmodelhandoutforparticipationinClass#4.CLASS#4HOWTHEINDEPENDENTSYSTEMWORKS(Wed,Sep13)GUESTSPEAKER:TBD
• DiscussionofClass#3AssignmentPapers/Models• HowtheIndependentSystemWorks
o Whatisanindependentfilm?o Markets(cf.festivals)o Sales/International
§ SAA(NOAs)
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§ DomesticRepresentation§ Co-Productions
o FinancePlans§ Equity§ Mezzanine§ Senior=Collateral
o RecoupmentPlans§ Waterfalls
o ‘Comparables’AnalysisClassAssignment.PrepareONEofeitheraFinancePlan,RecoupmentPlanorComparablesAnalysisforanindependentfilmprojectofyourchoosingsoldinthelastfiveyearsbyaprominentsalesagent.BepreparedtopresentanddiscussyourworkinClass#5.A1-pageSummaryoftheGuestSpeaker’sinsights.ClassReading.Handout‘FinalTopTenProductionIncentiveStates2015-2016.’CLASS#5:PRODUCTIONINCENTIVES(Wed.Sep20)GUESTSPEAKER:TBD
• DiscussionofClass#4AssignmentFP,RPorCompAnalysis• TopLocations• InternationalLocations• ATLcf.BTL• Caps/Minimums• Rebatescf.Credits• Discounting
ClassAssignment.SelectapropertythatyouwishtobethesubjectofyourFinalProject.Youarefreetochooseyourproperty,preferablyinfilm,anditmaybestudioorindieofanygenre,budget,rating,etc.A1-pageSummaryoftheGuestSpeaker’sinsights.CLASS#6:HOWTHETELEVISIONSYSTEMWORKS(Wed.Sep27)GUESTSPEAKER:TBD
• PitchyourchosenFinalProjecttotheclass.• TheTVsystem
o HowtheTVSystemWorks§ NetworkCycle§ CableCycle§ Co-Productions§ Syndicated
ClassAssignment.A1-pageSummaryoftheGuestSpeaker’sinsights.Prepareforyourmid-Term.
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CLASS#7:MID-TERMEXAM(Wed.Oct4)Interviewanotedmediaexecutive;writeapaperofnolessthan2pagesandverballypresenttoyourclassmatesinpersonthesummaryofthatindividual’spersonalandstrategicbusinessplanbehindtheircareerandtheirbusiness[Alternative:Prepareananalysisofwhattypeoffilm(studio/indie,genre,budget,rating,location,releasestrategy)youwouldmakeifyouwishedtomaximizereturnsoncapitalandverballypresentyouranalysistoyourclassmatesinpersonwiththeassistanceofwhatevermaterialsyouhaveprepared.]CLASS#8PRODUCING-DEVELOPMENT(Wed.Oct11)GUESTSPEAKER:TBD(Producing)
• HowItWorks• Pitching/Selling• IP/UnderlyingRights/©• OptionAgreements• WriterAgreements(Work-for-hire)• LifeStoryRights/PublicDomain• InvasionofPiracy/Defamation• Clearances• E&O• MusicRights• DevelopmentInvestmentDealStructures
ClassAssignment.A1-pageSummaryoftheGuestSpeaker’sinsights.CLASS#9:PRODUCING–PRODUCTION(Wed.Oct.18)GUESTSPEAKER-TBD(Legal)
• Packaging/Castingo DomesticRepping
• DirectorAgreements• ActorAgreements• ProducerAgreements• ProfitParticipations• GuildAgreements• FinancingAgreements
ReadingAssignment.Reviewandbefamiliarwiththehandoutscript,budgetandschedule.A1-pageSummaryoftheGuestSpeaker’sinsights.
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CLASS#10:PRODUCING–PHYSICALPRODUCTION(Wed.Oct.25)GUESTSPEAKER:TBD(lineproducer)
• Budgeting/Schedulingo Breakdowno ShootingDayso CashFlowScheduleo Locations/SoundStageo Night/Day
ClassAssignment.PrepareatopsheetbudgetinMovieMagicBudgetingsoftwareforyourFinalProject.A1-pageSummaryoftheGuestSpeaker’sinsights.CLASS#11PRODUCING–POSTPRODUCTION(Thur.Nov.2–ClasspushedonedayduetoHalloween)GUESTSPEAKER:PaulLeonardandANOtherTBD[tocome]CLASS#12MARKETING(Wed.Nov.8)GUESTSPEAKER:TBD• Marketing/Audience
o BigIdea/HighConcepto TraditionalvsDigital
§ NetworkMedia§ SocialMedia
o Ratingo Genreo Demographics
AssignedReading.GenderInequalityin500PopularFilmsbyStacySmith.EUDigitalSingleMarketDirective+Portability.[China]CLASS#13FUTURETRENDS(Wed.Nov.15)GUESTSPEAKER:TBD• Diversity• DigitalSingleMarket• Disruptors:Amazon/Netflix• Analytics:Slated/CinelyticsClassAssignment.A1-pageSummaryoftheGuestSpeaker’sinsights.
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CLASS#14GUESTSPEAKER(Wed.Nov.22)GUESTSPEAKER:TBD–TheJoysandChallengesofProducingCLASS#15:FINALPROJECTREPORTS/PRESENTATIONS(Thur.Nov30–ClasspushedonedayduetoGoodbyeDinner)• FinalProjectPresentationDue(anyformat)• FinalProjectpresentationinpersontotheclassofacompletedevelopment,
production,finance,recoupment,budget&schedule,sales,marketing&distributionpresentationprimarilyfromabusinessperspectiveforyourselectedFinalProject
SuggestedReading[tocome.]