The rapid growth of the digital economy has created a wealth of opportunities for the media and entertainment industry.
Content creators benefit from easier access to distribution, allowing them to reach global audiences much more easily than was previously possible. On the flip side, the proliferation of digital devices and streaming access has created an on-demand culture where consumers dictate what content they want to watch, when they watch it, and how they watch it.
But with opportunity comes risk....
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In the world of business, partnerships are often the best recipe for success. Whether your business is looking to get off the ground, looking for new streams of revenue, or has hit a plateau and is looking to break through to that next level, teaming up with someone else who’s trying to do the same thing can be a win-win. One common way this is done is through brand and product licensing.
In the 2020 Winter edition of the MESA Journal, FilmTrack's current COO Michael McGuire explains how the pandemic has impacted the entertainment industry and how that impact may have fundamentally changed the industry moving forward. Most notably the halt of production and the shutdown of theaters has put tremendous value on existing libraries. Utilizing software such as FilmTrack to fully understand what is currently available for sale or distribution, as well as what will be coming available and when, has become imperative to not only conduct business as usual but thrive in the current economy.