How do entertainment companies work? What are their main services? Historically, entertainment companies have grouped themselves around their main offerings: movies, comic books, and toys. Some companies are also part of sports networks like ESPN. Walt Disney, for example, devised a flywheel, with the center of the wheel defining his company as Creative Talent of Studio/Theatrical Films. In fact, Disney was an entertainment company first and foremost, but now it also produces and distributes music, sports, and other entertainment.
The process of creating and distributing a film starts with a production company. The production process begins with the development of the specific project. Screenwriters create the script, actors and crew sign on, and production begins. Most productions never reach this phase. During pre-production, actors are prepped for their roles, sets are acquired, and shooting permits are acquired. Once production begins, the film will then be ready to shoot.
Technology is another key element of the entertainment business, which is why many tech-related positions are in high demand. Entertainment companies need people who know how to make movies, games, and other interactive experiences. While it’s true that the industry prioritizes its artists, employees are often left out. In many cases, people enter the industry with big dreams, only to leave in a few years, feeling that the stress isn’t worth the paycheck. According to statistics, the average salary of a college graduate in the entertainment industry is 31.3 million won. However, the average salary of all employees is only 28k USD.
If you’re looking to start your own entertainment company, you don’t need much capital. After all, the overhead costs are minimal, including living expenses, administrative expenses, equipment maintenance, and employee salaries. While you’re at it, consider your current costs and how much your direct competitors are charging. Make sure your business name is available for registration. Then you can get started. If all goes well, your business will soon become profitable.