Learning From Cuban and Corcoran

Based on what we learned in our last research regarding Mark Cuban and Barbara Corcoran, we intend to incorporate three important elements that they critically support into our business plan for Walking Wolf Productions, Corp.

First, we plan to make clear to investors that the idea of web series and motion pictures being distributed for free through an online platform is not only a great business given to its highly demanded products, but also because of its clear direction, successful future, and large margin of profitability. We plan to do this by establishing graphic statistics within the business plan that shows the amount of viewers watching shows and films over the internet and how it has grown during the last few years. This will allow investors to see the future of the business in the market and its prospective growth. Also, we plan to show this by presenting the investor along with the company’s business plan surveys of audiences relating to TV shows, films, and how they now watch them more over Hulu, Netflix, iTunes, or online platforms such as HBOGO.com, NBC.com, and ABCGO.com than in DVD’s or regular broadcast programming.

Second, we plan to attack all investor doubts and insecurities by overstating that our business is an Internet-based business. As a rule of thumb, given to the open market and the lack of boundaries that the internet provides, the majority of businesses that are currently based on the web are massively successful. However, the fact that we are intending to distribute the most visited forms of entertainment aside to games which currently exist on the market, will make us even more popular, profitable, and expandable.  We will be clear that we also intent in creating an app for Android and Apple which would also give access to mobile consumers and a port of entry for game consoles and devices with internet access so people can see our products anytime, anywhere. 

Third, based on Barbara’s Corcoran’s tips, we intend to build a prospective team of people that are suitable to make the business succeed and grow accordingly. We will mention in the plan we do not only aim to have a bunch of filmmakers and artistic individuals running the company, but a full administrative staff of coordinators, accountants, managers, and a lawyer that make sure the company runs to satisfy not only consumer needs, but the investor’s need of return on investment.

Overall, selections of our plan we consider to be the most important are the executive summary for its capacity to tell the entire business idea in the beginning, briefly, and to the point, forecast projections such as the target market and industry analysis sections for their ability to tell how well would the business behave in the real world, and the marketing plan, which lets investors know how and through which channels we intend to reach our target market. It is important for investors to know how we plan to succeed and survive the competition.

FIRST LOOK ON BUSINESS PLAN EXPERTS

Mark Cuban is an American businessman and investor born in July 31, 1958 on Pittsburgh, Pennsylvania. He is the owner of the NBA’s Dallas Mavericks, Landmark theaters, Magnolia Pictures, and he is the chairman of the HDTV cable network HDNet. His business net worth is $2.5 billion dollars, and he is #171 in Forbe’s list of US Billionaires. As a young adult, Cuban enrolled as a full time student at the University of Pittsburgh and then transferred to Indiana University in Bloomington, Indiana, graduating in 1981 with a bachelor's degree in business administration.

Cuban’s critical key components when looking into a business plan are a) the actual consumer need for the product or service, b) the track record of the business and individual owner of the company, and c) the business’ growth prospect. Cuban has a particular interest for internet related business that profit from e-commerce and other web services. As for point A, Cuban looks for business plans that have high-demand and need in its products or service to ensure the number of sales and ROI. He prefers financing a business of PS3 games that consumers can download online for a monthly membership fee where there is already a market and need, rather than a local store of hand-drawn prints for T-shirts. About point B, Cuban explores through the company’s and individual owner’s financial backgrounds the level of responsibility and commitment of the business. Studying someone’s financial background helps understand individual and corporate habits in the way money is spent and saved. Ultimately, point C is a view at the possibility that the business can expand and branch out. As a business man, Cuban likes to finance businesses that can stand on their own and automatically create new assets. An example is HDNet, which is a network that builds its audience based on new seasonal content.

Barbara Corcoran is an American business woman, investor, business consultant, and television personality born in March 10^th, 1949 on Edgewater, New Jersey. She graduated from St. Thomas Aquinas College in 1971 and started her own real estate business, The Corcoran Group, with a $1000 loan in 1973. She is a columnist for “More Magazine”, “The Daily review”, and “Redbook”. She became also a “Shark Tank” show personality and investor on ABC in 2009.

Corcoran’s critical key components when looking into a business plan are a) a great executive summary that answers a.1) what is the business owner trying to make happen with his/her business?, a.2) why is the individual owner suitable for the job?, a.3) Is it a good business?, a.4) What is it going to cost? And a.5) How long is it going to take? Also b) presenting the total revenue that the company could generate if it captured 100% of the market rather that presenting the total market or overestimating its size, c) presenting the true company risks rather than downsizing these to not scare investors, d) and answering what makes the company’s product or service different? Ultimately, Corcoran’s emphasis is in the executive summary: let the executive summary reflect the gold mine a business truly is including its risks and potential problems along the way.

References:

-          Barbara Corcoran (2011). Official Website. Retrieved November 27^th, 2011 from http://barbaracorcoran.com/

-          Green, Penelope (2005). "The Real Estate 'Queen' in Her Hive", The New York Times. Retrieved November 27^th, 2011 from http://www.nytimes.com/2005/09/25/realestate/25habi.html

-          Expert Views on Business Plans (2011). Steven Burhoe’s Blog. Retrieved November 27^th, 2011 from http://bpexpertviews.blogspot.com/

-          Mark Cuban Profile Page (2011). Forbes.com. Retrieved from http://www.forbes.com/profile/mark-cuban/

Walking Wolf Productions explores the world of webisodes and mini-series

The world of webisodes has expanded for independent filmmakers in the last decade. Now, even TV episodes made by ABC, NBC, and Warner are being casted on the internet. Independent shows such as “Clark and Michael” along with “Steven King’s N” are also being pushed all over the web, bringing a chance for new content to be picked up by networks.

Independent Webisode Guide

Thus, it is the time for us at Walking Wolf Productions to explore this new category of content and provide a fan base of 900 followers several mini-series of different genres. We have the purpose in 2012 of creating three web pilots in pursuit of obtaining support by sponsors who wish to promote their products and services on the web. This in combination of digital marketing will allow us to complete at least two seasons per show and build an audience of minimum 10,000 viewers. Once this target is met, we plan to pitch the show to local and regional TV stations that would like to follow up with the show.

The first show will be a drama that will be targeted to women in their mid-thirties and mid-forties. Our plan is to appeal this demographic by creating a show that contributes to society’s morals. It will be an episodic show that will have one new story every time with one same host. The method will be that at the end of each story we will deliver a message to the audience through the eyes of the host and the victims in the story.

The second show will be a horror with the same feel than “Harper’s Island” where it will be one continuous story with thrilling cliff-hangers that case the audience to continue watching. The story will have to do with a serial killer and its different victims. However, the story will be told from the eyes of a man new to the setting who will not understand the situation of the circumstances until the end of the story. The killer will be revealed in the end with the purpose of making a story twist that surprises the audience with its sudden results.

Finally, the third show for 2012 will be chosen by the audience, and they will be able to vote what is next for Walking Wolf in its mini-series collection. The audience will be able to write a pitch to the producers of the company by writing to mytvpilot@walkingwolfproductions.com, and depending on the story the producer’s choose, that audience member will be credited in the production.

Films for the thinking man

Read our article in the independent film section about us by Suite 101

 

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Changing the World One Story at a Time

 We welcome you to read our new article by Los Angeles Splash Magazines

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Digital Marketing for the Entrepreneur

As I researched my way to push our company and films through social media campaigns, I encountered the following tools and prospect company services:

1.     There is a website called Buysocialpower.com. If you have the budget and are willing to be a do-it-all-yourself entrepreneur, this website allows you to buy a fan base for Facebook, YouTube, and Twitter. You might think, is this organic at all? But the truth is, it is just a lead way. Right after you buy your fans (basically the website connects your social platform’s title page with people in your market place and that would be interested in your product) you still have to do the work of multiplying these fans and maintaining them by promoting your services and products through campaigns and inciting these fans to tell others about yourself.

   Visit their website

Right when you access the landing page, there is a video explaining the whole process of social marketing and how can their company help in giving you that lead way of 1000, 5,000, or 10,000 fans so you can work with a real social media campaign. They have different plans according to the amount of fans you want them to connect to your page and the platform (Facebook, Twitter, YouTube) you will be choosing. For the self-starting businessman, I encourage you to check it out.

Now, if you are the kind of entrepreneur who finances his own projects through Indiegogo.com and Kickstarter.com, you may take your project and create an amazing campaigns with stunning artwork, great pitch videos, and attractive pledging offers that will raise the money to push your projects forward. In social media, there are several companies that focus in advancing this craft. Some of them are very independent and others are very corporate. In my research of finding such companies, two entities caught my attention:

2.   Film Marketing Services, LLC focuses in pushing independent films forward through socials marketing, distribution, and event planning. John Gursha, who has been associated with the entertainment industry for over ten years and started his career at the NBC lot with an NBC page in 2001 on the tonight show with Jay Leno, leads the company. If your desire is to let a professional handle your connections as a producer and your social media campaign, Film Marketing Services, LLC is your answer.

Visit their website

 3.     Banyan Branch is a more structured company, which focuses not only on film, but also other products and events. The company works with other companies such as Disney, Porsche, FOX, Microsoft, Paramount, Hartz, Univision, and Gilt Groupe. However, they also have smaller clients like Grasshopper and Clarisonic.

  Visit their Website

In the world of marketing, PR and distribution, social media has become a pivotal elements in today’s modern industries and the world of the Internet. Facebook, Twitter, and YouTube play the primary roles in the way we connect across the world.

Artemis: A new director’s viewfinder designed for digital filmmakers

Chemical Wedding has an extraordinary application for directors and cinematographers that indulge in the digital world. Artemis Viewfinder and now Artemis HD bring a whole new world to filmmakers on a budget or simply filmmakers that believe digital is the new way to go in the motion picture industry.  The power of this application consists in this: it allows you to build your set of lenses and equipment while location scouting. However, you don't need to rent a $200 director’s viewfinder, and it gives you the ability to record images for storyboard reference. In the past, cinematographers and directors had to use an eyepiece, which depending on where they set the ring, they could see the way the camera was going to capture the scene. Nowadays, this application allows you to not only capture digital samples with different types of lenses and aspect ratios, but also lets you view the way you would capture a scene with new digital formats such as a Red One camera, a Viper, or the now famous DSLR cameras Cannon 7D and 5D.

What is even more amazing is that the application is now available in the Android Market and Apple Store, meaning you can make use of this great new way to build your scenes either through an iPhone, iPad, or an HTC Sensation. It doesn’t matter. Artemis Viewfinder is $29.99 and its remote version to control it through a secondary device is $4.99. Yes, it can be remotely controlled. Thus, if you have an iPad and an iPhone you can give the iPad to your director and as a cinematographer you frame the shots through the iPhone. Artemis will let you adjust the focal point, aspect ratio, or the focus in order to provide you flexibility with the way you frame your shots. After the work is done, the recorder frames will also capture the information so you can rent the equipment necessary if you with to acquire a desired look. It will even incorporate in the picture’s information GPS data so you are able to remember where you precisely took the shot.

Current supported lenses and formats include:

Standard and Super 16mm
Super 16mm Anamorphic
Standard and Super 35mm
35mm Anamorphic
65mm
35mm Digital (D-21, RED, F35, Genesis)
2/3 " Digital (F23, Viper)
1/2" Digital
1/3" Digital
Canon 5D and 7D

 I encourage all of you who really want to take seriously digital filmmaking and even analog filmmaking to acquire this new application. It will be costly in the beginning, but it will make you precise in your decisions regarding the look you wish to give to your new projects. And don’t worry about new formats or updates. They are all free once you buy the application and have an Android Market or Apple App Store account. Go ahead! If you want to find out more, go and visit Chemical Wedding's Website.

Indiegogo opens Distribber, a real chance for independent filmmakers

As I researched Distribber, I found out they are partnered with Indiegogo.com. Indiegogo is an online platform which allows you to pitch a project to a main audience and ask for funding support. Thus, I found excellent that one as a filmmaker can use their services to request distribution funds for Distribber itself. Distribber is an excellent aggregator of independent films that sells works to the most used VOD distributors such as Netflix, iTunes, and Amazon on Demand. However, in order to allow the filmmaker to maintain full rights and revenue collection of their works, they always charge up front fees for every project and the quantity varies per distribution channel. In the many eyes of filmmakers, this may look extremely unfair as there is no sense in charging the seller for its product. However, Distribber's variety of channels and speed of processing is fast, and they will represent you while your content is up and running. Also, Distribber helps push some of the marketing and advertisement of the film through their website along with a particular distributor's online platform during a certain time.

Therefore, here is where I find both entities' partnership ideal. By Distribber making part of Indiegogo, one as a filmmaker will be able to pitch a project and request for the necessary funds needed to pay Distribber's distribution fees. One can use the Indiegogo platform to acquire funding from the project's fans themselves. This service, on the contrary of what Distribber offers, is free and allows the filmmaker to pursue his own funds without having to get them out of his/her own pocket. The only part you have to do as to contribute to the process is work a captivating video, a portion of the film, a trailer of the film, an animated proposal that shows your fans and future investors a) why should they invest in a project, b) what is the project about, and c) how do you plan to benefit them as investors of the project. This last point doesn't mean necessarily you will pay them back, but it could be you providing them with a free copy of the film, free tickets and food to your next screening, or even you making them part of your credits list.

Overall, I believe Distribber is not meant for all filmmakers and all types of outlets. However, if one plans to distribute a product for the most part online, and also, one expects to make more than $1300 in revenue, then I believe Distribber is right for you. Still, if the problem is about acquiring the necessary funds to pay their services, then use Indiegogo's platform to acquire the necessary budget to pay for Distribber's fees. It will not only be helpful to have knowledge of this possible procedure, but also it is great practice for a filmmaker to acquire funding for upcoming projects by making part of these funds originate from the project's fans themselves. 

Walking Wolf 2012

Walking Wolf Productions is at the brink of launching it's new product line of feature films with it's short compilation, "The Remenents". The company's purpose is to start the line with an intrinsic set of stories which deliver a message inspiring survival. All of it's stories/short films are award-winning and will add up 90 minutes of feature length content which will be distributed through main stream aggregators such as Create Space, IndieFlix, and Distribber. These aggregators will give the film access to the iTunes, Netflix, Amazon VOD, Amazon.com, Hulu.com, and Comcast VOD market places. In addition, Walking Wolf Productions will have the chance to continue playing in the festival circuit and retain all of it's rights as a creator for the projects. 

It's a given fact Walking Wolf Productions will need to redesign artwork and marketing strategies now that the shorts will enter the feature-length content market. Still, the company wil not only work on given tasks, but also redeliver its now compiled products through another major screening in Miami, FL, home base of the corporation. Also, Walking Wolf Productions will be traveling next month to the United Kingdom to exhibit it's newest short film, "Fractured Minds" and see the possibility of selling to distribution sales presentatives of the European market that will be attending the festival its new feature film product. The company will thereafter travel between November and December to Los Angeles to sell it's new product at the American Film Market and Distributors Exhibition.

Furthermore, Walking Wolf Productions plans to have four new projects launched for next year. The first one will consist in opening its first brand new office in Kendall, Florida, the second one will be creating it's new Web TV site which will start with three mini-series which are currently under development, the third will be doing a final revision of it's next action-thriller "In True Nature", and the fourth will be finishing the development phase for "Matters of the Heart" (working title) it's next heart-wrenching drama. As it is visible, Walking Wolf Productions has it's hands full for several months to come.

Entertainment Law Podcasts of the Week

1.     How the Power of Branding Drives Trademark Law (From the Thompson Compumark Podcasts Series by Thomson)

The podcast centers in how trademark law has had to adapt given to the new branding rules brought by the world of the Internet. Nowadays, protecting a company’s name and the image that represents that name has become global. No longer does trademark law center on the U.S, but also in worldwide markets. The following cases were addressed to prove this point:

b.     Metel v. Barbies

“Barbies”, a restaurant in Canada decided to post their menu online in order to give leverage to their brand and attract new customers. However, Mattel, the creator of the doll line, “Barby”, became aware of the incident and asked the Canadian restaurant to please remove their website for it was infringing the “Barby” trademark. The Canadian restaurant did not comply, and Mattel went to court with the case alleging, “we were famous” and thus deserved to ask for other similar brands to be expunged. Yet, the supreme court of Canada responded to Mattel that there had to be a connection between the channels of trade before an opposition could be upheld. Thus, the court specified they still had to use the totality of the circumstances and not the mere statement Mattel “was famous.”

In my opinion, no matter how much leverage and popularity your brand acquires, procedures in court have to be made within the process established for that particular infringement. People cannot get “too cocky” as the lawyer in the podcast expressed. The law is the law, and although popularity is for the masses, a country is ruled by a code and not by self-centered individuals with elevated egos.

c.      Jaguar v. Remo Imports

Jaguar, the motorcar trademark expanded to sell leather-made goods in the 1980’s. However, Remo imports filed a lawsuit that Jaguar was associating goods that competed with their trademark and thus was driving consumers into a market in which they did not belong. Jaguar backfired their claim by arguing it was a natural extension for a brand like Jaguar, which inspires luxury and wealth, to sell leather-made merchandise with the logo of the company on it. In addition to this argument, they added that Remo on the contrary was using their claim to diminish the value of their brand in order to sell products of their own which resembled Jaguar’s and which were fabricated way after. The result was the court ruling an expunge of the Remo products.

d.     Levi’s v. Small Businesses

Small businesses filed lawsuits against Levi’s for using the word “overalls” as part of their trademark association. Levi’s argued back that although it was their purpose to expand as a brand, the word “overalls” could not be taken away from their trademark’s association to consumers given jeans (the primary product of Levi’s) were technically considered a type of overall. Yet, the court asked Levi’s in return of reversing the small businesses’ claims to include “male, female, and children overalls” in their advertisement if they desired such expansion of the brand legally to take place.

2.     Monkeying around with copyright law (Episode 23 of the Entertainment Law Update Podcasts Series by Gordon P. Firemark)

The podcasts comment about different cases regarding copyright law and copyright infringements happening now.

b.     Righthaven, a copyright troll (company that goes around acquiring rights in copyrighted materials so that instead of suing people, they can get money by settling the matter on their own without litigating), has been filing lawsuits against bloggers and online users who have been republishing work that official newspapers and magazines rightfully own. Yet, they have failed three strikes in a row based on the court not favoring Righthaven’s actions and the court’s interpretation that the true copyright holders of the pieces in question are the magazines and newspapers that originally produced them.

                                               i.     Righthaven v. Democratic Underground

                                              ii.     Righthaven v. Hoean

                                            iii.     Righthaven v. Dibiase

c.      Jack Kirby v. Marvel

Jack Kirby appeals loss in Marvel copyright lawsuit based on his work made between 1958-1963 in the company stating that there was never an official contract that mentioned Kirby working for the company in order to deliver ideas that would be used later by Stan Lee in the final comics. Marvel restated this was a work for hire and that in any work for hire when one works for a company, one’s creations belong to that company. Yet, Kirby has shielded in the copyright act of 1909 (act ruling during that time), which does not specify what a “work for hire” entails (meaning it didn’t exist back in the time). He has mentioned he was only instructed to create pages of ideas through sketches, but was never told they would be the base of current Marvel characters, which catapulted the brand to success. This appeal is in proceedings since the time due to lack of evidence from behalf of Kirby.

d.     Warner Brothers Entertainment, Inc v. X1X Productions

Although the Lyman Frank Baum characters by law should have entered to be public domain by now, Warner Brothers, with the creation of “The Wizard of Oz” in 1939, acquired a renowned trademark over specific looks of the characters. This has been a battle between being a trademark claim and a copyright claim. Warner Brothers wants to claim other people need to acquire license and rights from them in order to use the characters. Yet, other entities have been smart by not being detailed about the main characters and have stayed with secondary characters which weren’t very well depicted in the 1939 version such as in the case of the “Wicked” play producers.

3.     YouTube, Hurt Locker, and Idea Theft (Episode 12 of the Entertainment Law Update Podcasts Series by Gordon P. Firemark)

The podcasts comment about different cases regarding copyright law and copyright infringements happening now.

a.     Michael Douglas v. Diandra Douglas

The film Wall Street 2 reignited a battle between superstar Michael Douglas and his ex-wife Diandra Douglas given her divorce decree stated when would receive 50% of the income from any “spin-off” of a film made during the time of their marriage. However, the court brought a problem to the definition of the term “spin-off” which is not a legal term. According to the speakers of the podcast, what she should have drafted in the decree was “any derivatives.” Nonetheless, the case is currently pending a decision.

b.     Viacom v. Google/Youtube

The district court of the southern district of New York ruled that Youtube/Google is not liable to the contributory copyright infringement Viacom was claiming. The court protected Youtube/Google based on the safe harbor provision section 5.12 of the DMCA where the service provider is not liable for infringement by reason of storing user generated material if the provider is not knowledgeable that the material is infringing. Viacom opposed arguing Youtube knew about its infringements and was only pretending not to know in order to fill their website with content.

c.      The U.S. Copyright Group v. 5,000 illegal downloads

The creators/producers of the award-winning film “The Hurt Locker” incorporated a copyright protection firm, which accuses 5,000 Internet users of downloading illegal digital copies of the film via bi-torrent software. Comcast when alleged said they would work on the matter when the time comes on a per-case basis, and the court is currently questioning if filing against/persecuting 5,000 people is a legitimate way of copyright protection. Copyright can only protect when there is a specific defendant and when there is a series of transactions (in terms of illegal downloads) harming the filing company. However, with bi-torrent in extremely hard to calculate given elements which trigger a lawsuit.

References:

How the Power of Branding Drives Trademark Law

http://itunes.apple.com/us/podcast/how-power-branding-drives/id264628681?i=23010931

Monkeying Around With Copyright Law Podcast

http://itunes.apple.com/us/podcast/id313301718?i=96594890

Use the Force, Big Boy, and Watch Out for Beyonce’s Undies

http://itunes.apple.com/us/podcast/entertainment-law-update-podcast/id313301718?i=93105276