Slow-paying advertising agencies continue to be an issue for collection teams — an issue that seemed to worsen with the pandemic. Fortunately, a three-part plan from an industry expert who’s been in the media collections business for 50 years offers a solid structure, sound advice, and actionable insights for the best bet in collecting what’s due.
Remote work has been in full swing for well over a year, and for some companies, it has become permanent, for at least a portion of employees. Along with the work-from-home trend, cyberattacks have escalated, as hackers take advantage of less-than-secure technology infrastructure and computer configurations. Fortunately, industry insiders have thought the issues through, and offer us their best practices for keeping cyberattacks at bay.
There is much discussion in the broadcasting world around digital ad sales, as evidenced by panel sessions at MFM’s annual conference, Media Finance Focus 2021. While one school of thought is that digital sales is still taking a back seat to traditional ad sales, one very astute ad sales leader is all in on digital ad sales. Here are some of its challenges and opportunities.
In just a few shorts years, esports has exploded onto the scene, attracting massive viewership and generating revenue in quite distinct ways. Will its exponential growth continue, or are there unknown risks in its uncharted territory?
What happens when companies try to maintain — or even rebuild — their culture during and after a crisis? Is culture something that becomes so ingrained in a company’s DNA that for good or bad, it cannot be changed? Or can and will companies adapt their cultures for a reemergence after a crisis, or even a seismic event such as a merger?
Facebook and Google lead the media industry as companies being most heavily targeted by the FTC, Congress and even the Biden Administration. The central question at the heart of scores of lawsuits files in the past year: Have companies such as Amazon, Apple, Facebook, Google, and Microsoft become too powerful, and do they exercise anticompetitive practices?
Adding employees while you are working remotely, and hiring for remote-work positions are something of two sides of the same coin: as the hiring manager, you need to virtually present your company as a great place to work, either to prospective employees who may soon return to the office, or to new hires who may work remotely. Here are some tips for both situations.
The Media Financial Management Association’s Media Financial Focus annual conference is just around the corner. There are some strong advantages to its being held virtually again this year. If you’ve not registered yet, today’s the last day to do so before rates increase.
Diversity and inclusion within the media industry were moving ahead at a respectable clip. Then the pandemic happened. How should organizations get back on track with their hard-fought efforts?
COVID-19 knocked nearly the entire media industry for a loop. How do credit and collection teams cut clients a break, but still collect what’s due their companies?
As the lines continue to blur between traditional and digital media, players scramble for a piece of the new and very appetizing pie.
Leaders and employees need to focus on self-care to avoid pandemic-related burnout. Staying healthy, and personally balanced is crucial as we continue to face an uncertain future. Here are some ways to work toward that goal.
The media and entertainment industry has disproportionate influence over society’s attitudes, feelings and behaviors. When we take time to embrace and mentor people of color in our business, as the late Jeana Stanley of Hearst did, good things happen — we foster advancement while combatting stereotypes. Here’s to the time in our country when everyone can clearly see what they can be.
Companies must find ways to improve communications between the two departments. That will pay big dividends as you select and upgrade financial management technology. Additionally, this sharing of information should not be limited to managers; it needs to be encouraged among all members of both teams.
TV station values are impacted by a series of sobering conditions this year. Yet there are several reasons for optimism, not the least of which is ATSC 3.0.
The pandemic, coupled with racial and civil unrest, has devastated businesses and affected their advertising spend. When it comes to extending credit to, and collecting from, advertisers affected by this volatility, consider “thoughtfulness and creativity.”
The time to apply for trademark registration for a “new podcast, radio interview show, video game, online magazine or mobile app” is when the product is still in the development stage by filing an intent-to-use or ITU.
A good working relationship between the media and the FAA should serve both parties well as specifications are developed. There’s no question that both groups are committed to and concerned for aviation safety. “Given the news media’s support of the overall adoption of a remote ID regime, it is highly likely that the parties will be able to come to accommodations in the final rules,” says attorney M. Anne Swanson.
For media businesses, the COVID-19 pandemic, and related recession, accelerated trends related to the introduction of new advertising products and accepting new and different types of advertisers. It is also exacerbating the problem of slow payments and accelerating business failures. Given these changes, it may be time to re-evaluate credit approval and accounts receivable practices.
The pandemic has sharpened focus on new technologies, including virtual applications. “In the next five to seven years, you’re going to see multiple waves of virtual devices ingrained into mass consumer electronics,” predicts Ted Schilowitz, futurist for Paramount Pictures.
That is an inherently uncomfortable proposition. But, as we are seeing amid civil unrest and protests across this country and abroad, having frank and honest conversations on the subject, including the ability to air grievances without negative repercussions, is really the only way we can move forward. These conversations must be followed by meaningful actions. Learn about five such actions to help companies keep the lines of communication open while making the changes that need to be made.
Now may be the time for both media providers and advertising agencies to set aside their differences to adopt a middle ground that benefits all concerned.
Any new software process transformation should begin by asking three questions: What are the costs? What are the business requirements and pain points to be resolved? How will the software solution be implemented?
Robotic process automation and artificial intelligence are changing the way we do business. While experience still counts, good decisions tend to require more research and often involve other departments. There seems to be more process and less service. It may be time to consider adding some automation, especially for onboarding new clients, dealing with blocked orders and to streamline the entire ad sales process.
The Scripps-owned video news network Newsy is welcoming aboard two new hires with notable journalism backgrounds. Amber Strong joins the team as a politics reporter, covering the 2020 election with a focus on health care. Strong arrives from CBN News, where she worked as a White House correspondent. She’s also spent time at MSNBC and […]
For the second time in three years, ABC has promoted a Freeform PR staffer to serve as its senior vp communications. As expected, Freeform vp communications Naomi Bulochnikov-Paul has been elevated to serve as senior vp communications at broadcast network ABC.
As WarnerMedia Entertainment continues to tweak its cable priorities in anticipation of upcoming streamer HBO Max, the company has hired Corie Henson, formerly of Fox, ABC and Electus, to lead unscripted programming at TBS, TNT and truTV.
The ability to take risks, a skill that can be practiced and mastered, can lead to improved outcomes. Challenges that require a risk-taking mindset are based on responding to external customers. Organization leaders face similar challenges responding to internal customers and employees.
A fresh series of Facebook ads this week by Democratic presidential candidate Sen. Elizabeth Warren seeks to put the social media giant on the defensive — by telling a lie.
The ads, which began running widely on Thursday, start with a bold but obvious falsehood: That Facebook and its CEO Mark Zuckerberg have endorsed President Trump’s reelection campaign.
In today’s music licensing scenario it’s not clear who owns a piece of music, or which performance rights organization each copyright owner is affiliated with. The lack of a competitive marketplace with ASCAP and BMI remains a sticking point and it’s sure this conversation is only just beginning to heat up.