Full Sail: Entertainment Business BS
Recently, I switched my major from Music Production to Entertainment business. This was an incredibly hard decision to make as music has been a huge part of my life for about a decade now. Once I got far enough into the music degree to be working on realistic projects, I realized I actually hated what I was doing and I wasn’t confident I’d be able to graduate with that degree.
So I switched; and a HUGE weight was lifted off my shoulders. I am now working on a very practical degree that will provide me skills applicable to any industry I decide I want to work in. Music can once again be something that I don’t have to stress over every day.
During my time as an entertainment business student, I will acquire skills such as accounting, management, business law, graphic design, marketing, and much more. I am super excited to be making this shift and working toward new goals! Though it will take me an extra year to graduate, I believe I will become a much more well-rounded and educated person because of it. I will be posting portfolio projects along the way to track my progress!
Business in the Entertainment and Media Industries
The Business in the Entertainment and Media Industries course explores the evolving infrastructures across various industry sectors. Students will examine emerging innovative business strategies within these creative industries as well as current business trends. Students will also identify the variety of careers available for business professionals in these industries and their respective skill sets, with an eye toward developing the abilities are vital to their chosen fields.
Assignment 1 - Adapt or Die: Businesses that Failed to Innovate
'Atari has had many "deaths" as a company and their name still exists today, however they officially went bankrupt in 2013.
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By 2013, the business mainly existed for brandig opportunities. Their last console was released in 1993, around the same time that JTS bought the corporation. Atari continued to make royalties off their games for a few more years until they were sued for doing so.
Atari was a very successful gaming company starting in the 70s. They created tons of classic games we all know and love such as Pong, Space Invaders, and Frogger. They were purchased by Warner Communications in 1976, which actually helped them grow. Following the video game crash in the 80s, Atari was split up and sold to two separate companies: Commodore 64 and Time Warner Interactive. Atari was again partially sold to Hasbro Interactive in 1998 and Infogames Entertainment in 1999. This process was repeated multiple times over the years until the original concept of Atari as a brand ceased to exist. They stopped making hardware and eventually stopped creating games. All but one of the people who originally were involved with Atari are no longer are a part of the brand. Only the founder, Nolan Bushnell, is still left; he joined the board of directors in 2010. The brand who once was a role model in the gaming industry now only exists for people to hold on to the nostalgic memories. There are many decisions that could have been made which could have saved Atari from its downfall. Had they decided to never sell Atari to Warner Communications in the first place, it could have been a thriving game company today. But there are only so many times you can break something into pieces before it becomes just a bunch of broken pieces. Unlike other “dead” companies, though, Atari’s name, legacy, and nostalgic games will continue to live on.
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It is extremely hard to figure out the right decision to make for your business, especially if it is on the verge of failing. Many companies let themselves get bought out by larger ones because it is a faster way to make money, and it can be easier than sticking with it through the long haul. Other have no choice but to sell their company because it’s already failing and it’s a better option than trying to stick with it and ending up in debt. Atari, though, was already a very successful company when they first sold to Warner Communications. Founder Nolan Bushnell stated in a Reddit post that he regrets his sale to Warner in 1976; that same year, Bushnell rejected an offer from Steve Jobs to invest $50.000 into Atari in exchange for one third of the company, another decision he regrets. It’s easy to look back on these decisions and pick out the obvious correct one. But when you are actually faced with a situation like this, it’s nearly impossible to predict the future outcomes of each option. In most cases, you can’t back out of an agreement you’ve made that involves a lot of money. Therefore, it is extremely important to take the time you need to think about each decision and do as much research you can into who and what you’re making a deal with. You could be sitting on a gold mine and not even know it. It’s pretty safe to say, though, that if things are going well in your business, you should probably should just keep doing what you’re doing. A one-time offer could be a small fraction of a life-long commitment.
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References:
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Orland, K. (2013, January 21). Today's Atari bankruptcy latest in a long history of corporate deaths. arsTechnica. https://arstechnica.com/gaming/2013/01/todays-atari-bankruptcy-latest-in-a-long- history-of-corporate-deaths/
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Makuch, E. (2014, August 26). Atari “Destroyed” by Sale to Warner, Says Founder. Gamespot.
https://www.gamespot.com/articles/atari-destroyed-by-sale-to-warner-says-founder/1100-6421905/
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Rebecca. (2022, November 30). The History of Atari: A Complete Guide. History Computor.
https://history-computer.com/the-history-of-atari-a-complete-guide/
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Neate, R. (2013, January 21). Game Over? Atari Files for Bankruptcy in US. The Guardian.
https://www.theguardian.com/business/2013/jan/21/atari-files-bankruptcy-america
Business Management
The Business Management course analyzes the management principles that sustain a successful company. Students will learn about performance management, team management, and leadership in a business environment. This course examines various types of organizational structures and corporate cultures. Students will also gain insight on the importance of creativity and innovation in making business decisions. Other business topics include human resources, time management, effective communication, productive meetings, and role reviews.
Discussion 3 : Diversity in the Workplace
Diversity and inclusion in companies and media has been a major topic in recent years. Minority communities including black, indigenousness, LGBTQ+ groups and their allies are quite vocal about how important it is to see diversity in the workplace and in the screen. Despite all this talk, Hollywood is not seeing a lot of improvement on this issue. This was going largely unnoticed until awards season came around; the vast majority for awards candidates happened to be white men, even though there were plenty of people from diverse communities who deserved nominations. Los Angeles is home to one of the most diverse communities in the world, and Hollywood movies have been more diverse than ever. So why is this still a problem?
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For many years now, the entertainment industry has been one of the biggest advocates for diversity. It gives people a giant platform to speak out and bring equality into workplaces. But if you look at what is happening behind the scenes, the reality for the film crews and non-white actors is quite grim. A few Southern California universities did a study and found out that 70% of directors are white men, minorities are often included on screen just to check off the companies diversity requirements, and white actors are often paid much higher rates than minorities are. So even though Hollywood claims to care about diversity and inclusion, research shows they are only making these moves to boost profits.
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It's really not hard to treat people with respect and provide a foundation based on equality for everyone who is and wants to be a part of your business. Yet many companies across the US seem to struggle with this concept. As a business owner or hiring manager, it is important to make sure everyone in a leadership position truly values diversity and inclusion so no one on the team is treated as inferior to anyone else. Compensation should only vary slightly across the same position and no one should be paid more unless they are proven to be more qualified. To keep leadership in check, team members should be able to do a review on their managers just as often as their own performance is reviewed. If more businesses implemented these processes, you would start to see more diversity in workplaces, as well as higher retention rates and better quality of life for employees.
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References:
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Bhattacharya, T. (2023, February 10). Hollywood needs diversity behind the camera as well. Aljazeera. https://www.aljazeera.com/opinions/2023/2/10/hollywood-needs-diversity-behind-the-camera-as
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TVNewsCheck. (2023, April 17). Minimal Growth In Entertainment Diversity: Study. https://tvnewscheck.com/business/article/minimal-growth-in-entertainment-diversity-study/