Variety says...

That's what you read in every 'serious' production company's waiting room.

"Variety".

It's the Wall Street Journal of the entertainment industry.

If you're not in our industry you'd never read it.  It's kind of obtuse, doesn't have many pictures and is highly specialized.

It also costs $12 to buy and a subscription is something like $260/year.

"Dang, I'm certainly NOT reading that."

Okay, but it's got stuff in it that will help illuminate the trends that are shaping our industry and, like it or not, our industry shapes pop culture in a way that's almost singular.  Also, because our industry is so highly-charged, the things happening in it can give you some clues as to the larger movements that are going on in pop-culture at large and those movements are sure to be influencing you and what you do as well.

So, I thought I might start filling you in on the things I'm noticing as I read it.  Should be a weekly post.

From this week...

-American Idol's ratings are down.  Last year they averaged 28-30 million.  This year--so far--they're averaging 24-26 million.  Seems to me that this is related to their attempts to mix things up.  It's coming across as more complicated than anything.  The lesson for us?  Be VERY careful before changing something just 'cause you think change is needed AND be very careful of adjusting your vision and ideas to try and suit or match what you think the market demands.

-Online advertising is way down.  Our industry was thinking that web advertising would be the new 'holy grail' of keeping the studios in business.  It's just not panning out that way.  For the small folk like us it's still viable but if you're looking to make HUGE amounts online it's just not happening.  The lesson for us?  This economic slowdown affects companies and they have less to spend on advertising so as content providers we have to continue to make compelling art and make sure we know our audience.  Targeted seems to be more and more the case these days.

-Blue Ray is NOT blowing up.  Families are waiting to buy DVD's 'cause they're expecting to upgrade at some point to Blue Ray so that means DVD's aren't selling and Blue Ray's not selling.  The lesson to us?  Sometimes 'good enough' is 'good enough'.  Think very carefully before building planned obsolescence into your product or service.  At some point your audience is going to be tapped out.  This whole "I'm waiting on Blue Ray" thing is certainly true in my family.

-Every the biggest companies there are (NewsCorpt, GE, Disney) are really suffering right now. 

-Movie attendance and TV viewership are up.  This is typical for a recession.  Entertainment is typically recession-proof.  Problem is, the multi-nationals who own the studios are taking the profits from the studios and sending them to their other more troubled divisions leaving the studios struggling even though they're succeeding.  If you have a business (or a Church) be careful about robbing peter to pay paul 'cause eventually it'll bite you.

-International distribution is more and more important and this means high-concept, male-driven, action-oriented films are more and more in demand.  This is why you're seeing what you're seeing at the multi-plex.  The lesson for us?  Broad, universal appeal is what works best, no matter what business you're in.

That's what I got this week.

Hopefully that's useful for you as you continue working to build your life.

Peace,

T