MTV The Leading Multimedia Youth Brand - Essay Example

MTV – The Leading Multimedia Youth Brand ABOUT MTV MTV Networks is owned by Viacom International Inc., an international leader in programming and content. With over 135 channels and over 200 interactive properties across the globe, the MTV Network has been revolutionizing music ever since its inception in 1981. Almost three decades into the entertainment industry, the company continues to makes its presence known with innovative media products on a host of platforms such as the internet, wireless and interactive television services. The company has its headquarters at 1515 Broadway, New York City. The work environment provides its employees the ability to contribute, be heard and be successful. MTV was named the world’s most valuable media brand for an uninterrupted six years by Business week and Intebrands world’s most valuable brands study. MTVN Media Products Its portfolio of media and entertainment can be broadly classified into online and television channel brands. Some of MTV Networks online, online interactive and web based entertainment brands include Harmonix, AtomFilms, GameTrailers (GT), Xfire, AddictingGames and Shockwave, GoCityKids, Neopets, ParentsConnect and Quizilla. CMT, Logo, MTV, MTV2’s, mtvU, MTV Tr3́s, MHD, VH1,VH1 Classic,VH1 Soul, COMEDY CENTRAL,Spike TV,TV Land,Nickelodeon, Nick at Nite, NOGGIN and The N are the television channel brands under the networks portfolio. The programming content of the MTV channel laid emphasis on reality shows The Real World and Road Rules during the mid- to late 1990s and early 2000s. The years 2005 and 2006 witnessed the channel returning its focus on reality television content with the debuts of popular shows such as 8th and ocean, Laguna Beach: The Real Orange County, Parental Control and the like. To attract and retain the teen and young adult viewer segment, the channel has also airing movies made for that particular age group. Several productions of its own film producing division is also being broadcast. In 2009 it added scripted comedy programs to its pprogramming portfolio With the recent downslide in the networks ratings, MTV stepped into 2009 with a massive shift in programming. It broadcast content focuses more on reality programming. "You get an intense sense of reality that you haven't seen on television before," Graden says. "These are (techniques) that are interesting that I don't see anyone else doing." Brian Graden is the President of Programming, MTV and VH1. Revenues And Profits The following excerpt taken from www.smartbrief.com gives an account of the Third Quarter 2008 financial Results of Viacom of which MTV is a unit. “Revenues grew 4% to $3.41 billion in the third quarter 2008 led by a 6% increase in Media Networks revenues with Filmed Entertainment revenues relatively flat versus the prior year's results. Operating income declined 15% in the quarter, primarily reflecting a $91 million decrease in the Filmed Entertainment segment as it lapped the strong performance of Transformers in the third quarter of 2007. Third Quarter 2008 operating income decreased 15% to $689 million versus $815 million in the third quarter of 2007. Operating income for the Media Networks segment declined 4%, reflecting the impact of lower advertising and consumer products revenues as well as higher expenses primarily related to programming. Business Outlook For the full year 2008, Viacom expects to deliver mid-single to low double-digit growth in adjusted diluted earnings per share from continuing operations. Stock Repurchase Program For the quarter ended September 30, 2008, 7.6 million shares were repurchased for an aggregate purchase price of $215 million. As of October 31, 2008, the Company has $1.4 billion remaining in its existing $4 billion share repurchase program. “ Stock Summary Chart as on 7th, April, 2009. Adopted from: http://data.cnbc.com/quotes/VIA Distribution The company also extends its international presence through licensing agreement, joint ventures and syndication deals. HIRING PRACTICES The entertainment network is constantly on the look out for hot talent to fit its working culture. To get the best in the industry the company does not restrict itself to just one source of recruiting its employees. From picking up from the internal talent pool, through references to advertisements in across media categories, the company uses them all to find the right talent for the right job.” Viacom values a diverse workforce that reflects the rich diversity of our viewers and clients.” Hiring Freshmen The company’s annual recruiting schedule includes conducting internship fairs at different colleges in different locations at different schedules. The company’s website gives further information regarding this for the current year and the following year. While networking plays an important role in the entertainment industry, it is not the only way to get hired. You could get started as an intern or take up a temporary opportunity that comes your way, prove your capabilities and climb the ladder of success. Hiring Top Executives MTV always tires to retain the best of its talent. Positions that are vacant are notified to its employees first. This is especially true of top positions which require an in depth knowledge of the functioning intricacies of the company. For example the recent appointment of a top executive was from the companies internal talent pool. A news article from reuters reports as follows:”Houser most recently served as Senior Vice President of Human Resources for MTV Networks, overseeing New York and West Coast/Regional Human Resources for the Entertainment Group, the Music and Logo Group, Business and Legal Affairs, the Corporate Groups and the West Coast/Regional operations. She has worked at MTV Networks for over 10 years and was a founding member of MTV Networks' diversity council.” However the organization is always open to the best of talents and does hire from outside if the names in the internal talent pool do not meet the quality standards for a particular position. Hiring decisions handled by the HR in consultation with the respective hiring authorities in each department. Training Program Or Internship The network also offers internship programs at the company’s official premises situated at various locations across the U.S. Working with one the world’s leading entertainment network will be a one of a kind opportunity for students who would like to have a first hand experience of the industry. The company is an equal opportunity employer. The HR department is so responsible for offering coaching and conducting training programs as per the needs of its various departments. Departments And Their Roles The wide portfolio of media products and services are run by the MTV Networks Corporate. The departments that function under this include: Affiliate Sales and Marketing, Corporate Communications, Finance, Human Resources, Business Affairs and Legal Affairs, Creative Services, Research & Planning, Special Events, Network Standards and Public Responsibility. The broadcasting operations for viewers in the U.S. and North America, Mexico, Central and South America, and the Caribbean are taken care by the MTVN Network Operation Center (NOC), situated on Long Island. MTV’s Management function takes care of activities like marketing, sales, finance, HR and public responsibilities. The Creative division focuses on developing original and innovative content and it also works with the production department to ensure that right content is produced. It also creates the promotional spots and presentation tapes used by marketing, advertising sales and affiliate sales. Copywriting, planning and scheduling all promotional activities are among the other responsibilities. Production Department performs both pre and post production activities It also is responsible for managing a show or a project from it’s inception through production and post-production. Apart from this its handles show/project budgets and processes information such as Legal, Music & Media Licensing, Finance and Production Bibliography MTV Networks Names Catherine Houser Executive Vice President of Human Resources Thu Jan 10, 2008 9 http://www.reuters.com/article/pressRelease/idUS149328+10-Jan-2008+PRN20080110 Viacom Reports Third Quarter 2008 Results, 03/11/08, NEW YORK, http://www.smartbrief.com/news/ctam/industryPR-detail.jsp?id=3A71511F-F4E3-438E-A517-7B2A0BDACDC1 Real time Market Quotes, 07/04/09 http://data.cnbc.com/quotes/VIA Page 17, Equal Opportunities, Business Conduct Statement, http://www.viacom.com/aboutviacom/Documents/Business%20Conduct%20Statement.pdf Frankel, Daniel, Dec. 19, 2008, MTV Plans 16 New Reality Shows http://www.variety.com/article/VR1117997667.html?categoryid=14&cs=1 Read More