MEDIA AND ENTERTAINMENT BUSINESS PLAN IN NIGERIA
This Sample Media and entertainment Business Plan In Nigeria Can be used for Grant Applications, Bank Loans, Proposal Writing, Business Concept notes, Competitions, etc. Media and Entertainment Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the implementation.
BUSINESS DESCRIPTION OF MEDIA AND ENTERTAINMENT BUSINESS PLAN IN NIGERIA
INDUSTRY- MEDIA AND ENTERTAINMENT
PATILAD INC is a Record Label and Digital multimedia company that proposes to specialize in the manufacturing, sales, promotion, and distribution of audio and video recordings of associated music artists, poets, spoken word artists, comedians, and all types of media and entertainment creatives.
PATILAD INC is leveraging technology using the interconnectedness of the internet to manage the repertoire of various artists and proposes to set itself apart from another record label through its unique value proposition that cuts across all sectors of the media and entertainment market and its marketing and promotion plan.
PATILAD INC head office will be located in Jos, Nigeria we want to work with local artists, involved in many different genres of entertainment to help them launch their musical careers, our founding team consists of experienced producers, record executives, and successful artists who put together have recorded projects that have received critical acclaim worldwide, and generated hundreds of millions in income.
PATILAD INC has the opportunity to generate profitable revenue based on conservative financial projections, we are currently seeking funding in equity investment capital to establish and implement our major objectives which include but are not limited to; setting up a corporate office in a major city maintaining overhead expenses, acquire artists, production projects, etc.
Products and Services of Media And Entertainment Business Plan in Nigeria
- Manufacturing and production of audio and video content
- Artist and repertoire development – this consist of our ability to discover and develop
- Promotion and marketing
- Distribution and on-demand streaming service
Benefits of Our Products And Services
- Quality control
- Exclusive promotion
- Financial support for artists
- Connection to a large network of promotional outlets and sponsorships
- Legitimacy and legal
- Artist repertoire and public relations
Keys to Success for Media And Entertainment Business Plan in Nigeria
- Create a brand image
- Corner the market
- Discover and Signup new talent
- Manufacture content
- Promote content
Objectives of Media and Entertainment Business Plan in Nigeria
- Build creative brand
- Increase sales and additional revenue through the sale of related merchandise and paraphernalia
- Minimize expenses and increase profitability
- Satisfy customer base and exceed expectations by consistently producing and distributing extremely high-quality content
- Increase creative and productive personnel
- Build partnerships with 3rd party revenue streams e.g., TV, Game sync deals, and increase awareness.
- Develop cutting edge technology
Goals of Media and Entertainment Business Plan in Nigeria
- Sign contracts with curated artists
- Release full-length projects for various artists
- Implement 360 degrees promotion
- 5% revenue growth per year
- Diversify user base by curating and promoting artists in different genres of entertainment
- Increase brand awareness
- Strategic partnerships with large auxiliary distributors to assist in physical and online distribution
Vision of Media and Entertainment Business Plan in Nigeria
Our vision is to build a result-oriented digital multimedia agency with services and products that will transform traditional manufacturing, and the promotion of digital content.
Mission of Media and Entertainment Business Plan in Nigeria
At PATILAD our mission is to provide, highly creative digital marketing and multimedia services that will help clients in promoting brands, and content to a wide audience across the world.
Read Also: Internet of Things Business Plan in Nigeria
Swot Analysis for Media and Entertainment Business Plan in Nigeria
Getting competent talent on our team has always been a major focus for us, PATILAD we have a strong and competent technical and Marketing team with deep sector knowledge in media and entertainment, Including our repertoire of highly talented artists.
as a new start-up and player in the industry, one of our weaknesses is the immediate ability to compete for market share with the already existing media companies, in addition to the fact that the record label is in a highly competitive industry with limited flexibility in pricing.
- Numerous opportunities for new content development from curated talents
- Various revenue streams
- Development of proprietary products and services
Threats include government policy and regulation, and economic crises that reduce the purchasing power of our customers
Marketing and Distribution of Media and Entertainment Business Plan in Nigeria
We will concentrate our advertising and promotion efforts on digital channels to harness the interconnectedness of the internet to reach a large number of users
- Social media marketing
- Email marketing
- Music blogs
- Online music marketplaces- e.g., Spotify, Tidal, Amazon.com, google play
Management Team and Experience of Media and Entertainment Business Plan in Nigeria
Our management team at PATILAD is highly experienced and qualified, the key members of the management team, their backgrounds, past experiences, and responsibilities are as follows;
Daniel Balmun- A full-stack software engineer with over 6 years of demonstrated working experience in technology industries and fast-growth start-up markets, as he serial founder who has succeeded at other technology companies, he will serve as the product design and engineering lead on the erstwhile team.
Dayo Adetiloye- (B. Agric, MBA, PMP) has over 15 years of experience in business management, business start-up dynamics, financial management of the business, and overall business growth and development, he is an alumnus of the enterprise development center (EDC) of the Lagos business school (LBS) pan African university PAU) he is our business development strategist and a strategic partner
Lilian Mfon- Lilian is the head of our marketing team, most of our marketing strategies are online-based and she is the best personnel for the job she has a well-established digital marketer with proficiency in content management social media marketing, search engine optimization, and marketing.
Market Analysis of Media and Entertainment Business Plan in Nigeria
The record industry is a highly concentrated market with a few big corporations controlling a huge percent of music and entertainment distribution and records sales, trends in the industry include the adoption of cutting-edge technology to make media content readily available to users in more sustainable formats and more affordable rates, however, a gender gap exists and many female entertainers have largely excluded other industry analysis and metrics worth considering include
- Industry growth year on year
- Disposable income- economic situations which increase the purchasing power of customers can directly benefit the industry.
- Industry Regulation- copyright laws, licenses, intellectual properties
Our customers and customer segments include;
- Artists – musicians, poets, spoken word, comedy, dance, etc.
- Artist fans and audience – people who pay for digital and physical media and entertainment content.
Competitor Analysis for Media and Entertainment Business Plan in Nigeria
Our competition includes other regional and indie record companies in Lagos, Abuja, etc.
- Mavin Records
- Capital records
Competitive Advantage for Media and Entertainment Business Plan in Nigeria
- Quality control
- Experienced Personnel
- Legal framework
- Low overhead costs
- Broad customer base
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