ENTERTAINMENT INDUSTRY COLLAPSING, BUT NOT DUE TO INTERNET
Contact: Nancy Davies FOR IMMEDIATE RELEASE
Tel: 888-242 6312
Email: Nancy.Davies@sumartra.net
ENTERTAINMENT INDUSTRY COLLAPSING - BUT NOT BECAUSE OF INTERNET DOWNLOADS
Industry Insiders Admit That Biggest Problem In Entertainment Industry Is Lack Of Finance And Support To Launch New Films, Bands, Acts.
We’ve long been told that due to Internet downloads CD sales and film revenues are plummeting, and that the entertainment industry is collapsing, and that we may soon all be forced to watch nothing but drab re-runs, listen to ‘classic’ re-issues, and feast on the occasional mediocre new music or film. But industry insiders now admit it’s not because of Internet downloads.
Creativo, a consultancy, recently surveyed more than 500 entertainment businesses about problems facing the entertainment industry. More than 95% identified the lack of funding and support as their main problem. Sarah Maitland, Creativo Research Director, clarifies, “interestingly, there has been a lot of publicity over the last 5 years claiming Internet downloads have caused the entertainment industry’s current problems, but we’ve found most companies admit Internet downloads are an opportunity not a problem, and the real problem is the lack of financing for creative projects. Most people never think about it, but every new film, album or video game released, no matter how cool or how exciting it is, needs to be financed somehow. If finance is not available - and it isn’t now - there won’t be any more cool films, albums, or games, it’s as simple as that”
But there is hope on the horizon - new website MediaMoghul.com (www.mediamoghul.com), launched today, provides a dynamic new method for filmmakers, record companies and other entertainment businesses, to get backing, support and funding.
MediaMoghul.com CTO Bill Gordon explains, “we’ve developed MediaMoghul.com as a result of our experience working in the entertainment industry, and the site aims to democratize the industry, and the way projects are selected and funded and supported. MM enables the creative process to happen in a transparent way, by allowing the public to decide to finance the creative projects they are interested in”.
Can MediaMoghul.com turn things around for the industry? Aspiring producer Irie, from Espresso S thinks so, “the huge step forward is that people can finally raise finance for their projects, to actually turn their dreams into reality….this will change everything”.
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If you’d like more information about this topic, or photos, or to schedule an interview with Bill Gordon, Sarah Maitland or Irie call Nancy Davies on 888-242 6312 or email Nancy at Nancy.Davies@sumartra.net