Broadcast & Entertainment Service Sheet
Content (Film, TV & Music), Broadcast (Television & Radio), MVPD (Multichannel Video Programming Distributors), Video Gaming
March 17, 2021
Our TMT team helps clients protect and enhance enterprise value of companies and assets in an industry evolving through changing technologies, consumer behaviour and markets. Working for companies, equity holders and/or creditors, our engagements touch virtually every aspect of the global entertainment industry today. A major feature of our team’s experience is valuing and advising on the positioning and structuring of transactions where intellectual property rights are a key driver of value, understanding the implications of changing distribution platforms and assessing the strategies, processes, procedures and practices that determine a company’s ability to realise its value proposition. We have extensive experience across the broader industry and a particular expertise and understanding of the content industry. Clients seek our advice for:
- Strategy & Implementation. FTI Consulting provides analyses, processes and technology solutions to help companies tailor go-to-market strategies that drive revenues, optimise content delivery and reduce costs.
In the rapidly changing world of media and entertainment, companies need immediate results. Our professionals respond quickly to identify key operating metrics that drive value and impact on decision making, and evaluate external trends that impact on revenues.
Leveraging our analytical processes, we develop the appropriate strategies to improve results. Also, we know how to obtain a commitment to change from key parties within a company and understand how to facilitate collaboration with management to ensure that initiatives are readily actionable.
- Profitability Improvement. The FTI Consulting approach to performance improvement is to include revenue enhancement in addition to cost controls and efficiency. Our professionals identify key operating metrics that drive value, processes and procedures that impact on decision making and evaluate external trends that influence revenues. Armed with facts and our experience in best practices, we develop and help implement the appropriate strategies and processes to improve results.
We use a disciplined, metrics-based approach to create sustainable, measurable improvements in return on investment, cash flow and enterprise value. To maximise effectiveness, our professionals draw on the perspective gained from work on hundreds of engagements, understanding of industry best practices for key operating metrics, our proprietary company database and the knowledge of how to adapt and adopt those experiences to the specific situation at each individual client company.
- Valuation & Transaction Advisory. Our valuation and industry experts understand the complexities of forecasting assets and businesses in dynamic markets. Our professionals bring a unique depth of financial analysis, industry insight and practical experience to all our valuation and advisory projects. We have advised on over 1,100 entertainment and media projects representing nearly $130 billion in asset value across the filmed entertainment, television content, music, video game and new media sectors.
In the US, based on the number of deals completed, we have been ranked as the No. 1 financial advisor by Thomson Reuters for Motion Pictures/Audio Visual deals for 2010 - 2012 (1)
Worldwide, based on the number of deals completed, we have been ranked as the No.2 financial advisor by Thomson Reuters for Motion Pictures/Audio Visual deals for 2010 - 2012 (1)
(1) Represent advisory services by The Salter Group which was acquired/merged with FTI Consulting in 2012.
Financial opinions and valuation services include transaction-based opinions (fairness opinions, solvency opinions, collateral valuation opinions, intellectual property and intangible asset valuation opinions, and going concern valuation opinions), financial reporting opinions (purchase price allocation and goodwill impairment (ASC 805), portfolio valuations for private equity funds, hedge funds, banks and other capital market constituents (ASC 820), incentive compensation, options and “cheap stock” (ASC 718), revenue recognition for multi-element licensing arrangements (ASU 2009-13), and derivative valuation opinions (ASC 815)), tax planning and reporting opinions (estate and gift tax opinions, enterprise, minority interest and non-marketable minority interest for business and asset valuations, and equity/share-based incentives and compensation for services (IRS Sec. 409A)), and financial, strategic transaction advisory support (forecast preparation assessment, strategic alternatives and transaction structuring support, transaction due diligence (forecasts assessments and development, independent valuations), and transaction support for capital raising and M&A efforts).
- Interim Management. The challenges companies face may be strategic, operational, financial or market driven, but, inevitably, they will lead to loss of investor support and confidence if not handled optimally. Investors and owners engage FTI Consulting interim managers to assist their companies through critical periods or to achieve specific critical goals. Our interim managers have extensive experience advising and collaborating with boards of directors and executive teams to succeed in an interim management or turnaround scenario.
Equally, our Turnaround and Crisis Management teams represent a broad array of experience covering the entire C-suite. They know how to manage risk, reduce costs, improve liquidity and communicate effectively with stakeholders in various parts of the entertainment industry.
Many engagements are short term, requiring a fully staffed, highly skilled interim management team to execute quickly on a business plan. Others are long term and require one or two professionals with specific, identified skills.
- Investment Banking. We combine our extensive industry experience and contacts with investment banking/transaction execution expertise to convey a company’s key value drivers (and risks) to potential buyers, sellers and financing sources in a way no one else can do.
To help complete transactions, our FINRA-regulated investment banking subsidiary, FTI Capital Advisors, LLC, leverages our industry-specific, broad operational understanding of our clients to provide insight and expertise that drive value and overcome obstacles.
We have been distinguished among financial advisers for assisting clients in the formulation of financial forecasts to consummate merger and acquisition and financing transactions and for use in a wide variety of other situations, including assessing the economic potential and viability of certain business segments or operations and developing long-term strategic plans and alternatives.
By reconciling real-world transactional experience with academically supportable financial assessments combined with strategic, financial and operational analyses, we provide comprehensive advisory services to clients seeking innovative solutions in a wide variety of transactions.
- Restructuring. FTI Consulting has led the restructuring league tables consistently, thanks to our team’s in-depth, industry-specific operational experience and world-class financial expertise. We have represented a major constituent in almost every major telecom restructuring in the last 10 years and nearly 50 media and entertainment companies as well.
We approach restructuring with industry-specific knowledge plus bankruptcy and reorganisation skills. Our professionals have a highly respected track record of stabilising over-leveraged companies, resolving balance sheet issues, assessing operations, restructuring debt and maximising value to constituents.
Our restructuring team helps clients improve liquidity, conserve cash and manage working capital with services that include contingency planning, stakeholder negotiation, divestiture analysis, and debtor-in-possession and exit financing options.
- Strategic Communications. The Telecommunications, Media & Technology industry team within our Strategic Communications practice includes sector experts with experience representing a broad range of organisations and companies, from start-ups to multinationals. Our clients benefit from the team’s relationships with key influencers to provide a comprehensive suite of integrated communications services, including corporate and employee communications, financial communications, public affairs, creative engagement, strategy consulting and research, and crisis communications.