WME’s purchasing of IMG Worldwide will change sports management

IMGLast week the world of talent management experienced a major turn when William Morris Endeavor Entertainment LLC teamed with Silver Lake to purchase IMG Worldwide. The move to acquire IMG will have a strong impact on the talent management industry as a whole, but will specifically affect the sports world.

This acquisition is going to bring together two of the larger organizations that were, at one time, focusing on different parts of the entertainment world. William Morris was once focused on the music, television, movies and theater aspects of entertainment. Some of their biggest clients included the likes of World Wrestling Entertainment, the Ultimate Fighting Championship and the National Football League. It was their job to negotiate the million and sometimes billion dollar deals that would get these organizations featured on major television outlets.

IMG is a sports agency that has represented such stars as Peyton Manning, Rafael Nadal, Steve Nash and Lindsey Vonn.

This move is important for many within the sports world as it has become more recognizable that athletes have a great deal of value beyond their performance on the field or court. Athletes such as LeBron James, Shaun White and others are learning how to brand themselves in a way that allows them to continue to increase the strength of their bank account well beyond their athletic abilities. IMG will now have more backing to go after higher name athletes while stronger contacts in other areas of entertainment to open their clients up to new opportunities.

Changes such as these are important to notice as the world of entertainment becomes an amalgam of what it once was. While making a long term impact like Michael Jordan is a far off goal for many, there is still an opportunity for athletes to push themselves into new revenue streams. Effective managers have to be able to negotiate relevant deals for their clients while helping them move into markets that will continue to make them money long before their playing careers are over.

The $2.2 billion dollar deal that allowed William Morris Endeavor and Silver Lake to purchase IMG Worldwide may not have received much mainstream coverage, but the results of these powerful groups coming together is going to have a great effect on the sports and entertainment world.

If you’re in the market for talent management services the R&B Management Group can help give you some direction towards the goals that you have in mind.

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Beyoncé proves the strength of social media and branding

Jason LaVeris / FilmMagic / Getty Images

Jason LaVeris / FilmMagic / Getty Images

If you’re active with any type of social media platform then your feed was quickly taken over on late Thursday into early Friday by the one and only Beyoncé. In a matter of moments the Internet was her stage when she released a surprise album through iTunes. Leaning on nothing more than the power of her brand and social media the famed artist sold approximately 80,000 copies of her album in three hours. This is yet another example of a powerful celebrity leveraging their strength through online branding and social media marketing.

We at the R&B Management Group have continuously preached the strength of proper branding and the use of social media outlets to reach the masses. The feat that Beyoncé pulled off last week is one of the best examples of the success that can come when these two tools are used together. In one moment she’s set off a ripple effect that may not immediately hit the music industry, but will have longstanding ramifications that will be seen in the future.

Ssocial-media-seo-logoshe set nearly every social media outlet on fire with the release of her album. From numerous tweets of lyrics from new songs to simple Instagram posts that showed the cover art of the album; it seemed as if every fan took to their phone or computer to talk about anything that had to do with Beyoncé. According to a New York Times report the album release generated 1.2 million tweets in 12 hours. That in itself took the place of traditional album promotions that have been used in the past; especially when other artists such as Katy Perry and Lady Gaga also pushed the content to their millions of followers. While other entities have tried to use social media as a promotional tool, none have been able to generate such a response that Beyoncé created in mere hours.

The power of her brand was also on display during these developments as well. It was always clear that Beyoncé was a very popular musical artist but this album release fully shows how her fans relate their lives to her music. That positive engagement, which has come through a protected development of her brand, shows how serious it is for personalities and companies to protect their public perception. If she wasn’t as well accepted as she is today her album release and sales would not be as major a story as it is at this time.

Whether you are a fan of her music or not, there is still a lot to be learned from what Beyoncé did last weekend. The release of her self titled album will have long standing effects while she enjoys the immediate benefits. Either way, this is yet another example of how branding and social media work hand in hand.

Developing Your Social Media Strategy

social-media-seo-logosSocial media excellence has become one of the keys to developing a strong company brand. With so many different tools that are available for online promotion many companies and individuals are lost when it comes to creating their social media content strategy. With that in mind the R&B Management Group is looking at ways that you can take charge in developing the strategy that meets your needs.

Establish Your Goals

As with many things in life and business, establishing the goals of the campaign should be the first step that is tackled. Are you trying to build a following? Drive traffic to a website? Generate revenue through sales? All of these steps are important when building your strategy and will determine what platforms that are needed. For example, YouTube is a fantastic tool that can help develop a following if you consistently upload new videos. Twitter and Facebook are key if you’re working to drive traffic to a particular website. Each social media platform has a specific use that must be merged together based on your goals.

Stay Consistent

One of the biggest hurdles with using social media for a specific content strategy is that many individuals don’t know when to post materials and often fall out of habit of doing so. Staying consistent if one of the best ways to cultivate an audience that looks to hear from you. For example, if you have a company blog that updates every Tuesday morning users are going to know when to look for new content which should generate the traffic you’re looking for. Jenna Marbles is one of the more prominent YouTube personalities around and she is very consistent with uploading new videos every Wednesday. This practice plays a part in the high number of hits that her videos always receive week in and week out.

Real Interactions

An aspect of social media usage that makes the platforms so enticing to users is the way that it has become easy to engage with others across these platforms. Twitter makes it quite easy to talk to clients or anyone else who addresses your brand. As you develop your social media strategy engage those that are already influential in your industry while responding to anything that is sent to your handles. As the “voice” of your brand is heard more often more people will look to see what you have to say.

Social media content strategies can really help drive traffic and build your voice through the Internet. With so many different tool s ready for your quick and easy use, developing your own strategy needs just a few simple steps. We can hel you develop your social media content strategy at the R&B Management Group.

 

 

Kobe Bryant, The Los Angeles Lakers and Loyalty

BryantLoyalty is an ideal that is priceless but not cultivated the way it should by many business practitioners. It seems that so many businesses are focusing on finding new clients that they forget to take care of those that have been with them since day one. The same occurs in the sports world but since some of the athletes are multimillionaires their loyalty is often overlooked. Kobe Bryant has come under some criticism for his recent contract extension with the Los Angeles Lakers. However, both he and the organization should be praised for how they brought this deal to a close based on loyalty.

Towards the end of November Kobe Bryant signed a two-year contract extension that is worth $48.5 million dollars. In signing this deal Bryant has solidified himself as a Laker for the rest of his career while the team locks in two more years of one of the most exciting players in NBA history. However, there are still some who looked at the deal and decided it was bad for either the Lakers or Bryant for various reasons. Instead, this deal show be looked upon as a reward in loyalty by both the player and the team.

For the Lakers one must recognize the amount of money that he has brought into the organization. Kobe has been a Laker since 1996. In that span of time the team has played for seven NBA championships and won five. As he has grown into one of the greatest athletes to play the game, the team has greatly benefited during this journey.

Coming into this year the team was riding a wave of more than 300 consecutive games in which they had sold out the Staples Center that hosts their home games. With Bryant out due to injury that streak was ended. Bryant’s number 24 jersey is ranked number three among all sellers this year and that is more revenue that the Lakers generate from his presence. Even though the Lakers were expected to have a sub-par year they are still scheduled for 29 nationally televised games which is the most among any team in the league. All of these examples point towards streams of revenue that the Lakers can attribute to Kobe Bryant.

From the player standpoint Kobe is earning these millions coming off of a devastating injury at the end of last season. He’s also 35 years of age which is well after the point that most players begin to see a drop in their production. The Lakers are not only rewarding him for past success but showing faith that he will return to his form that can lead this team to another championship during these two years.

Loyalty in professional sports is very rare, especially when money is brought into play. Teams have been quick to jettison players in the past while players are often out to earn the most money they can during their short careers. Both Kobe Bryant and the Los Angeles Lakers behaved in a different manner during this situation. Business managers, owners and entrepreneurs can learn from this moment in how they treat valuable clients while working hard to obtain new business.