The Entertainment Economy: How Mega-Media Forces Are Transforming Our Lives

It is the best of books, it is the worst of books. But for those of you interested in becoming self-supporting, even wealthy, beloved and famous artists, ignore Michael Wolf’s book, The Entertainment Economy, at your own risk. The only thing really shocking about this book is that it sets down in cold, facile language the rules of getting your product into the raging currents of the media deluge. At first glance it is a discouraging read for those who still harbor thoughts about the sanctity of artistic expression. Look a little deeper, though, and realize that what this mega-media consultant has given you is the keys to the kingdom. Instead of thinking of yourself as another lonely writer, filmmaker, or singer at the mercy of a hostile media universe, change your self-concept to that of an AEO, or Artist-Executive Officer, of your own entertainment corporation. Because the bottom line to people like Wolf and the media clients he serves is money, market share and mo’ money.

From this vantage point, which has you thinking tactically about the business of finding an audience, as well as strategically about the nature of your expression, Wolf’s book can serve as a manual in how to breach the citadel of entertainment corporations who control your ability to achieve your objective. As Sun-Tzu said, “It is only one who is thoroughly acquainted with the evils of war that can thoroughly understand the profitable way of carrying it on, ” and in this vein I offer ten maxims gleaned from Wolf’s book which describe the objectives, operations and thought processes of the enemy: Maxim I: There are rules to the game, learn them. Does it make any sense to spend your whole life developing your artistic expression to lose the opportunity at the final gate because you are ignorant of certain entertainment business fundamentals? The concept of the AEO, or Artist-Executive Officer, is a hybrid - in today’s media environment you have to develop your craft and understand the rules of business if you want your work to reach an audience. There is an upside to subjecting yourself to learning the rigors of dollars and sense business considerations - it quickly rubs off any juvenile shine your work may have to it. Maxim II: You are competing against everything else. Everything. From an entertainment executives point of view, every product in the media multi-verse is simultaneously competing with everything else out there - not for honor or recognition, but for market share and consumer dollars. There is no such thing as an isolated medium, so your product has got to stand up to universal expectations of production and entertainment value no matter what medium you are working in. Maxim III: Your product must fulfill the audience need to be entertained. Having so many entertainment choices available to us at any given moment and so little time in which to enjoy them, Wolf says, has the effect of, “. . . upping the ante for each entertainment decision. Not only is a bad movie perceived as a waste of time, it also represents a major opportunity cost in terms of other fun one might have had. The value of each leisure moment is increasing, and with it the consumer’s demand that time spent be high-quality time.” Maxim IV: Be aware of trends in society and entertainment. Your goal as an artist is to be, ” . . . so in touch with the times [you] can express the longings and desires of mass humanity . . . what we are talking about are people who can feel the vibrations in the air and catch the wave of mass culture,” says Wolf. Maxim V: Your product must be finely tuned with an eye toward Maxims III and IV. The first hurdle you have to pass is the “Who Cares?” test. Then it must simply entertain a mass audience in such a manner that it becomes a cultural tsunami that will have you exclaiming, “I’m King of the World!” Maxim VI: The market is growing, more content is needed. For Wolf, we’re living in a New World Entertainment Order, with the opening of developing and formerly closed markets, the explosion of new programming channels from satellite TV to MP-3 and the, “Entertainmentizing of the Economy.” With this phrase, Wolf describes the addition of entertainment content to every aspect of our lives, which leads us to . . . Maxim VII: Artists have the upperhand over the suits because they are hungry for content to sluice through their channels. Wolf describes a, “. . . fundamental shift in the balance of power in every aspect of entertainment. In two words: talent rules.” Maxim VIII: The suits control distribution, deals and marketing more than they do content. Don’t let them intimidate you - if they didn’t need you, they wouldn’t talk to you in the first place. The fact is, suits and talent are locked in more of a symbiotic embrace than the death tango of the mongoose and the cobra. Maxim IX: Entertainment is an alchemy which hasn’t been bottled. Do not panic. In case of panic, paste this phrase to a wall and beat your head against it. The demand for content is here to stay. Develop your craft, respect the audience, understand the society in which you live and you will sell what you have to offer. Someday. Maxim X: Every entertainment concept, product and empire started with an idea that didn’t exist before. Not only should you not panic, you should be feeling pretty good about yourself. Last year’s phenomenon percolated in the back of a busboy’s mind for perhaps as long as twenty years before it broke all land-speed records on its way to a gazillion unit sales. In the end, you have an equal chance as anyone who shows up with the right product at the right time - especially if you know the rules of engagement beforehand.