1. CHAPTER 7 ENTERTAINMENT MARKETING

2. The process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants through entertainment, or any diversion, amusement or method of occupying times

3. HOW MUCH T.V? On average people spend almost 3 hours a day watching television. 98% of all homes have at least 1 T.V. set

4. ENTERTAINMENT INDUSTRY Ranked in terms of time spent using the form of entertainment: 1.Television 2.Radio 3.Recorded music 4.Newspaper and magazines 5.Video games (home or arcade) 6.Films (theatrical or home)

5. MEDIA The methods used for communication or transmitting messages Media include film, television, radio publishing media, the internet, and more The companies that control the media and media offerings are large businesses such as Disney, Sony, Universal, and NBC and other television networks.

6. FAD Short term popular trend, style, product, or service

7. ENTERTAINMENT AND THE MARKETING CONCEPT Movie and tv studios are constantly striving to anticipate customer wants and needs – which is the function of the marketing concept – and provide what the public want The challenge for studios, theme park owners, and performers is to keep the customer coming back for more

8. Entertainment and Consumer Spending Entertainment marketing relies on meeting consumer demand for diversion and excitement at a price the customer is willing to pay

9. Cross Selling The method of selling the customer additional related products tied to one name

10. Leisure Time Free time for work or duties

11. Break even Have costs and expenses equal the income revenue Today it costs about $90 million to produce a major film and about $40 million to market it When a film proposal looks favorable, it is greenlighted, or given approval for production by the studio management

12. Oligopoly Studios including Universal, Paramount, Disney, MGM, and a few others are the core of the film industry Business situation in which a few firms affect but do not control an industry However there are independent movie companies, indies, that are not affiliated with major studios but still produce films Blair Witch Project was made for $35,000…how much did it make?

13. Theme Parks First amusement park was called “Pleasure Gardens” in Europe around 1550 In 1583 the world’s oldest amusement park, Bakken, opened near Copenhagen, Denmark Disneyland was created in the 1950’s Cost to create a ride can be $50 million

14. Affiliate An independent broadcaster that contracts with larger national networks for programming Ratings The rankings of a TV-show or radio-show popularity in certain time period

15. Music Industry A record company is called a label In the early 1980’s MTV appeared and revolutionized the music business with music videos The music industry has lost money as a result of illegal file sharing and downloading of music for free off the Internet Napster

16. Performing Arts From major productions on Broadway – the theatre district in NYC – plays in local venues, theater is a popular entertainment provider Academy Award – Film Golden Globe – Film & TV Emmy – TV Grammy – Music Tony – Theater