MAR 4715 Chapter 6 ful to postl

MAR 4715 Chapter 6 ful to postl - Entertainment Marketing...

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Unformatted text preview: Entertainment Marketing Entertainment Marketing Chapter 6­­ Publishing: The Printed Word Books, Newspapers, Magazines, & Games Nicole Howatt How It Works How More than 30,000 publishers operate in the U.S. Three main industry products Books­ most read? Newspapers Magazines­ hand­out? Common features of all three products Labor intensive Circulation and advertising Production Distribution Seasons? Books Books Book publishing encompasses a wide variety Fiction and non­fiction (greatest % books sold?) Trade books, examples?: general bookstore sales and library circulation Mass­market: reprints and original fiction and non­fiction; sold same channels that distribute magazines Hardback vs. Paperback Tradition released in hardback first, then followed with paperback in a year, Reasons? durability and stacking (leather) collectors and higher profit margins. If want, will pay. Now: Many authors must first develop a “following” through paperback and must “earn” the right to be published in hardcover Forecasting Forecasting Main challenge of forecasting: Main challenge of forecasting: Non­predictable size of market segment (unlike educational market) What must the publisher consider before extending a What must the publisher consider before extending a contract? Overhead costs Physical costs (PPB) Marketing costs Discounts to retailers and wholesalers Potential sales (will it meet or exceed sales goals to cover costs?) Marketing Books Marketing Books The Classic Approach The Classic Approach Sales reps call on bookstores/chains before book is released Direct Marketing­expensive but can be effective How to get a good list: Magazine subscription lists, organizations and special interest groups Backlist Sales Backlist Sales Re­release of authors previous books upon release of new book “No one can see or read everything when it is first available.” The Release The Release Marketing Books Marketing Books Reviews “Cranes” The New York Times Advance version of book sent to newspapers, magazines, Internet review sites, etc… although many other review lists exist, this one still receives a larger proportion of cranes Populist reviews: reviews posted by “actual” readers of the book (amazon.com) Talk Show Circuit Tends to work mostly with a publisher’s top authors towards daytime talk­shows Expert opinions Radio Interviews Radio Interviews Audiences for radio fills particular niches Book Awards Awards can increase sales of an author’s entire “stream” of books New Approaches in Book Marketing New Approaches in Book Marketing The author as a marketer Book­singing tours Web sites Promotional events Branding Who/what is normally branded? (Genre? Author? Imprint/ Publisher? Character?) Character as the Brand­ Harry Potter More movie tie­ins More movie tie­ins Placing star of the movie version on the cover of the book Growing Trends in the Book Market Growing Trends in the Book Market Print on Demand (POD) Printing books only as they are ordered Electronic Publishing­issues? Electronic Publishing­issues? Some not able to print Used book sales Used book sales Used book stores Online retailers: Extra, Extra… Read All About it Extra, Extra… Read All About it Changing competitive market Changing competitive market Niche markets being reached (morning papers, evening papers, Sunday papers, content papers, tabloids, etc…) Above the fold Different content Where do most revenues come from? Where do most revenues come from? Sales generated from ad space­ Circulation­ 15% Newspapers command about 23% of all advertising dollars spent in US News online News online New Stuff…. New NEW YORK (Adage.com) ­­ The demise of NEW YORK (Adage.com) ­­ The demise of the 8­year­old Teen People's print edition last week is one more indication of just how quickly digital media can change the game. Magazines Magazines Approximately 20,000 consumer and business magazines were published last year Niche marketing at its finest!!! However, approximately 160 magazines account for 85% of industry revenues Online magazines (“zines”) Eliminates many industry challenges Offers own benefits Animation, audio clips, 3D/virtual images, extension of brand at fraction of cost (brand loyalty), “new” advertisers, extra content Revenue and ROI Revenue and ROI Some of the most important revenue streams Circulation and subscriptions Advertisements and advertorials Reads like article Mailing list rental Why are circulation numbers important? Why are circulation numbers important? Generating advertising rates Measurement of success Measurement of success Cost Per Thousand (CPM) Growing Popularity of Games Growing Popularity of Games Only a Game? Only a Game? Accounted for $11 billion dollars in 2004 Industry grew 11% in one year alone (even following huge negative press) 36% of all U.S. households list computer and video games as a primary source of entertainment New Game Frontiers Product placement Games designed as promotions (advergaming) Study found that 82 of the country's largest food marketers were operating more than 500 youth­oriented online advergames. Internet interactive offerings and wireless components Cell phone games Targeting the Game Market Targeting the Game Market The Market (who purchases games?) Most games purchased by young adults, ages 18­24 Adults 25­40 close behind 43% of sales to women Partnerships and licensing Partnerships and licensing Partnerships between software, cable/connectivity suppliers, and hardware suppliers Books and magazines Movies and TV programs Sports franchises/leagues Marketing Hurdles Violence Piracy New Channels of Distribution How Game is Made­Marketing ...
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