MEDIA AND ENTERTAINMENT BUSINESS PLAN IN NIGERIA

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

BUSINESS DESCRIPTION

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

  1. Manufacturing and Production of Audio and Video Content:
    • This aspect of the business involves creating and producing high-quality audio and video recordings. It includes the recording, mixing, and mastering of music, spoken word performances, and any other audio or visual content associated with the artists and entertainers that PATILAD INC works with.
  2. Artist and Repertoire (A&R) Development:
    • A crucial function in the music industry, A&R involves scouting, discovering, and nurturing talent. PATILAD INC aims to identify promising artists, poets, spoken word artists, comedians, and various entertainment creatives. The company plans to invest in the development of these talents, helping them shape their artistic identity and career trajectory.
  3. Promotion and Marketing:
    • To ensure that the produced content reaches a wide audience, PATILAD INC will engage in comprehensive promotion and marketing strategies. This may involve advertising, public relations, social media campaigns, and other promotional efforts to create awareness and build a fan base for the artists and their works.
  4. Distribution and On-Demand Streaming Service:
    • PATILAD INC intends to manage the distribution of its audio and video content, ensuring that it reaches various platforms for consumption. Additionally, the company plans to tap into the on-demand streaming service market, making its content accessible to a global audience through digital platforms. This could involve partnerships with streaming services or the development of a proprietary streaming platform.
  5. Corporate Office and Overhead Expenses:
    • PATILAD INC recognizes the importance of having a central hub for its operations. The corporate office in Jos, Nigeria, will serve as the headquarters for managing various aspects of the business, including administration, talent management, and strategic planning. Overhead expenses cover the general costs of running the business, such as office rent, utilities, salaries, and other operational expenditures.
  6. Equity Investment Capital:
    • To implement its major objectives, including setting up a corporate office, acquiring artists, and funding production projects, PATILAD INC is seeking equity investment capital. This capital will provide the financial resources needed to establish and grow the business.

In summary, PATILAD INC offers a comprehensive range of services in the media and entertainment industry, covering the entire lifecycle of content creation, talent development, promotion, and distribution. The company’s unique value proposition lies in its interconnected approach, leveraging technology and a diverse team of experienced professionals to make a mark in the competitive entertainment market.

 

Benefits of Our Products And Services

  1. Quality Control:
    • PATILAD INC ensures top-notch quality in audio and video content production. With a commitment to excellence, the company employs rigorous quality control measures in recording, mixing, and mastering, ensuring that the final products meet industry standards and satisfy the discerning tastes of the audience.
  2. Exclusive Promotion:
    • Artists under the umbrella of PATILAD INC receive exclusive and targeted promotion. The company employs strategic marketing techniques to showcase its artists, ensuring that they stand out in the competitive entertainment landscape. This exclusive promotion enhances visibility and increases the likelihood of commercial success for the artists.
  3. Financial Support for Artists:
    • PATILAD INC provides crucial financial support to emerging talents. This support goes beyond recording expenses and includes investments in talent development, marketing, and other areas essential for an artist’s growth. By alleviating financial barriers, the company enables artists to focus on their craft and artistic expression.
  4. Connection to a Large Network of Promotional Outlets and Sponsorships:
    • Artists associated with PATILAD INC benefit from a vast network of promotional outlets and potential sponsorships. The company leverages its industry connections to secure opportunities for artists to showcase their work on various platforms, events, and collaborations. This network expands the reach of artists and enhances their exposure.
  5. Legitimacy and Legal:
    • Being under the umbrella of PATILAD INC provides artists with a sense of legitimacy and legal protection. The company ensures that all contractual agreements are legally sound, protecting both the artists and the company. This legitimacy enhances the credibility of artists in the industry and builds trust with stakeholders.
  6. Artist Repertoire and Public Relations:
    • PATILAD INC actively manages the artist repertoire, guiding their career development and helping them navigate the complexities of the entertainment industry. The company’s expertise in public relations ensures that artists maintain a positive public image and effectively communicate their artistic identity. This comprehensive approach contributes to the long-term success of the artists under PATILAD INC.

In essence, these benefits collectively contribute to PATILAD INC’s mission of not only producing high-quality entertainment content but also fostering the growth and success of the artists it represents.

Keys to Success for Media And Entertainment Business Plan in Nigeria

  1. Create a Brand Image:
    • Establishing a distinctive and compelling brand image is a key success factor, ensuring recognition and resonance in the competitive media and entertainment industry in Nigeria.
  2. Corner the Market:
    • Success lies in strategically positioning PATILAD INC to dominate specific market segments, capturing audience attention and becoming a go-to source for diverse and high-quality entertainment content.
  3. Discover and Sign Up New Talent:
    • Continuously scouting, nurturing, and signing new and promising talents is vital for sustained success, ensuring a fresh and dynamic artist repertoire that appeals to a broad audience.
  4. Manufacture Content:
    • The consistent production of top-tier audio and video content is pivotal, maintaining a prolific output that meets industry standards and satisfies the diverse tastes of consumers.
  5. Promote Content:
    • A robust and targeted promotion strategy is essential, leveraging various channels to ensure widespread visibility and engagement, ultimately driving the success of the artists and the overall brand.

 

 

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

Core Values

  • Credibility
  • Independence
  • Success
  • Profitability

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

STRENGTHS

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.

WEAKNESS

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.

OPPORTUNITIES

  • Numerous opportunities for new content development from curated talents
  • Various revenue streams
  • Development of proprietary products and services

THREAT

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

 

Customer Analysis

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
  • DMW
  • Capital records

Competitive Advantage for Media and Entertainment Business Plan in Nigeria

  • Quality control
  • Experienced Personnel
  • Legal framework
  • Low overhead costs
  • Broad customer base

 

For the remaining part of this business plan, including the detailed financial analysis, call any of our business plan consultants on 08105636015 or 08076359735, or send an email to dayohub@gmail.com.

We help institutions and organizations to write concepts and implement Business plans and also train on business plan writing in Nigeria. We can help you write a detailed, strong, and winning business Plan for any use in any industry.

Call any of our business plan consultants on 08105636015 or 08076359735, or send an email to dayohub@gmail.com

Click here to access your Free Gift on How to Secure Funding for your business in Nigeria and other business opportunities and information to help you discover, develop and fulfill your business potential.

 

  

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