Blockbusters: Hit-making, Risk-taking, and the Big Business of Entertainment

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About Blockbusters: Hit-making, Risk-taking, And The Big

About the Author Anita Elberse, the Lincoln Filene Professor of Business Administration at the Harvard Business School, is one of the youngest female professors to be awarded tenure in the School's history. Her work has been featured in The New York Times, The Wall Street Journal, Variety, and Fortune. She lives in Boston, Massachusetts. Product Description Why the future of popular culture will revolve around ever bigger bets on entertainment products, by one of Harvard Business School's most popular professorsWhat's behind the phenomenal success of entertainment businesses such as Warner Bros., Marvel Entertainment, and the NFL―along with such stars as Jay-Z, Lady Gaga, and LeBron James? Which strategies give leaders in film, television, music, publishing, and sports an edge over their rivals?Anita Elberse, Harvard Business School's expert on the entertainment industry, has done pioneering research on the worlds of media and sports for more than a decade. Now, in this groundbreaking book, she explains a powerful truth about the fiercely competitive world of entertainment: building a business around blockbuster products―the movies, television shows, songs, and books that are hugely expensive to produce and market―is the surest path to long-term success. Along the way, she reveals why entertainment executives often spend outrageous amounts of money in search of the next blockbuster, why superstars are paid unimaginable sums, and how digital technologies are transforming the entertainment landscape.Full of inside stories emerging from Elberse's unprecedented access to some of the world's most successful entertainment brands, Blockbusters is destined to become required reading for anyone seeking to understand how the entertainment industry really works―and how to navigate today's high-stakes business world at large. From Booklist Academic Elberse explains the entertainment industry’s blockbuster strategy, a risky approach that involves large resource allocation to acquire, develop, and market concepts with strong “hit” potential to offset average returns from other holdings. The entertainment industry includes fiercely competitive film, television, and music production companies; publishing houses; sports; and the nightlife market serving clubgoers and featuring high-profile DJs. The author’s intent is not to make a value judgment on entertainment products but, rather, to explain the workings of entertainment markets and describe the strategies that lead to success in attracting large numbers of consumers. Elberse notes that the blockbuster principles and practices of show business extend to other industries, citing Apple’s approach to selling computers, smartphones, and other hardware and Victoria’s Secret’s fashion shows with live performances and superstar models. Noting an increase in more competitive “winner-take-all” markets, the author concludes that “the business world . . . can learn quite a bit from the entertainment industry.” This thought-provoking book will appeal to students of all ages, those in the classroom and well beyond. --Mary Whaley Review “How come so many movies are sequels, adaptations and reboots? Why do music studios spend so much on just a handful of superstar artists? And since when did TV shows become so lush and sophisticated? . . . [Elberse's] great new book, Blockbusters, explains that the . . . questions share one answer. The blockbuster strategy--betting more and more money on fewer and fewer titles--has taken over the entertainment world.” ―TheAtlantic.com“In her new book Blockbusters …[Elberse] argues quite convincingly that in the music industry (in addition to cinema, television, books, and more) record labels are most profitable when they focus their funds on a small number of big-shot, can't-miss juggernauts.” ―Billboard“Forceful . . . Elberse analyzes the realm of culture with a rigorous, numbers-driven approach.” ―The Boston Globe“Persuasive… Elberse's