TMCnet News
Be willing to change, movie exec tells Fredericksburg-area businesses [The Free Lance-Star, Fredericksburg, Va.](Free Lance-Star (Fredericksburg, VA) Via Acquire Media NewsEdge) Oct. 19--The University of Mary Washington's 2014 executive-in-residence Dan Wolfe had one major lesson to impart to the Fredericksburg business community: change or die. Wolfe, vice president of NBC Universal Picture's worldwide creative operations, talked to a group of local business leaders Thursday morning as part of the residency program and said, "People need to be willing to change . . . you need to stay ahead of the curve and never be satisfied." At Universal, Wolfe oversees all post-production marketing of films in Los Angeles and London, from posters to trailers and ads. He showed the audience how his office used social media to get more views of the "50 Shades of Grey" trailers than they ever would have on TV or in theatres. The trailer, first released by Beyonce through her social media channels with a remixed version of her song "Crazy in Love," got more than 100 million views. The film, to be released on Valentine's Day 2015, is still being promoted through social media to reach moviegoers. Viewers then started filming their reactions to the trailer. When Wolfe first started with Universal 25 years ago, there was a strict formula for promoting movies. An advance trailer was released, then a second trailer, a poster and finally TV ads. About 80 percent of a $5 million to $15 million budget was spent on reaching potential viewers through TV. Now marketing costs as much as--or even more than--producing a film, and reaching filmgoers is changing as fast as the technology they are using. Wolfe said that he has become out of touch with new technology, and relies on the 20-somethings in his office to inform him what Universal is doing wrong and where funds should be going. "Maintaining the status quo is not an effective business strategy," he said. Netflix, YouTube and Facebook all work because all three adapt with their audience. But companies like Blockbuster and Kodak went bankrupt because they tried to stick with the status quo instead of evolve. Kodak, especially, refused to think forward by not investing in digital cameras even though they invented them, Wolfe said. He said that theaters will continue to lose out to platforms like Netflix, which just announced its exclusive release of the sequel to "Crouching Tiger, Hidden Dragon," if they don't evolve. "Theaters need to cater to what the consumer wants," he said, "instead of holding on to controlling where and when people see films." What people want is to experience media where, when and on whatever device they choose, he added. Wolfe is a 1984 UMW alumnus who has previously served as a commencement speaker, distinguished alumnus and graduate-in-residence at the Fredericksburg college. He is the 25th executive-in-residence at UMW, and spent the week speaking to students at the undergraduate and graduate campuses. During the student lectures, Wolfe focused on content, viewing habits and attitudes toward paying for media. He said being back on campus gives him a chance to see his alma mater grow and change, as well. "UMW gets it. It is going in the right direction," he said, referencing the newly opened IT Convergence Center and investment in digital learning. Lindley Estes: 540/735-1976 [email protected] ___ (c)2014 The Free Lance-Star (Fredericksburg, Va.) Visit The Free Lance-Star (Fredericksburg, Va.) at www.fredericksburg.com/flshome Distributed by MCT Information Services |