Entertainment Types Look to the Anderson School at UCLA for Survival in Modern Hollywood; The MBA is Becoming a Vital Credential Among High-level Entertainment Professionals.

Business Editors & Education Writers

LOS ANGELES--(BUSINESS WIRE)--Dec. 27, 2000

Co-producer of "Pleasantville," vice-president of productions at Mandeville Films/Walt Disney, Business Affairs Manager at Instinct Records; these are just some of the competitive posts The Anderson School's Class of 2002 have left behind in pursuit of a management degree.

In the last few years, The Anderson School's admissions office has seen an increase in the number of MBA-bound students who share backgrounds and experience in the entertainment, communications and media industries.

For those on the entertainment path, obtaining an MBA might have been considered untraditional in years past, perhaps even unnecessary. Not any longer.

In recent years, the entertainment industry has moved ahead of aerospace as America's largest export industry, and over the past five years, Southern California has fortified its place as the media capital of the world. Once relatively small niche companies catering largely to leisure activities have now become enormous multinational corporations that have significant effects on the world's culture and economy.

These rapid changes within the industry, including consolidation of ownership and the convergence of entertainment and new media seem to be luring more and more students to seek fundamental business skills through a management degree, said Linda Baldwin, director of admissions at The Anderson School.

"The number of people seeking an MBA from entertainment backgrounds is definitely increasing, but our students' rationale for seeking an MBA is much different than it was two or three years ago," Baldwin said. "The industry oftentimes demands high level management skills and profound intellectual ability so our students' underlying principle for getting a management degree is very sophisticated and complex."

According to career data obtained from the School's Parker Center for Career Management, students choosing the entertainment/communication field post graduation has doubled since 1998. In 1998, almost four percent of Anderson MBAs opted for an entertainment career. While the MBA class of 1999 graduated an all time high of Hollywood-bound students, with nine percent choosing careers in the communications industries (five percent- entertainment, four percent- media/communications).

Teddy Lynn, class of 2002 and former co-producer of "Pleasantville" has already climbed himself to the top of the entertainment ladder. The 27-year-old MBA student has been involved in the business since he was 10, working in agencies and production studios, and most recently he co-founded the production company, Infinite Monkeys, which he folded before accepting admission to Anderson. While Lynn prepared for business school he continued to receive offers from the entertainment world. Positions, no doubt, that some work years to achieve. So why did he put it all on hold for an MBA?

"Most people in Hollywood don't understand how conventional business works, I remember handling a $40-50 million budget and not truly knowing where the money was coming from," Lynn said.

As Lynn began to observe where the entertainment industry was headed, he realized he needed financial know-how if he were to ever return to the business. Lynn says his rationale comes from the premise that Hollywood is now generating funding from all sorts of industries, individuals and investors. The money is no longer solely coming from one source, he said, but rather banks and other untraditional investors.

The Anderson School can also add music professionals to their diverse list of MBAs. Like those in the entertainment field, music gurus have been forced to adapt to the rapid changes affecting their industry in the New Economy; to compete, some have chosen to seek a master of business.

Michael Jeon, a first-year MBA and previous business affairs manager at Instinct Records, comes to Anderson in search of basic business skills, which he says is often a lacking quality among his former counterparts.

"The perception used to be that an MBA won't get you anywhere in the music business -- its all about starting at the bottom and working your way up," Jeon said. "But the industry has seen some major changes taking place with the rise of the Internet; businesses are changing, new businesses are emerging, industries are converging -- business skills are very valuable and even traditional music companies need MBAs more than ever."

The student-run Entertainment Management Association at The Anderson School is one organization attentive to the shifting interest among business management students. EMA provides students with educational seminars, resume reviews, and above all, the chance to network with key Hollywood executives. EMA began with no more than 30 members over 10 years ago, and is now over 100 members strong.

"Having all of the up-to-date tools and formal training an MBA provides is more important than ever, especially in the field of entertainment," said Albert Beveridge, class of 2002 and former vice-president of production at Mandeville Films/Walt Disney. "When you know and understand all the basic disciplines, change is less intimidating because you are more adaptable to different business models and different revenue streams."

While finance, marketing and accounting continue to be Anderson's strongest areas of study, courses such as "Positioning in the Changing Entertainment Landscape," and "Institutional Issues and Change in Entertainment" within the Entertainment Management Program attempts to examine the power that entertainment and telecommunications media have and in what ways their structure and influence will change in an era of increased competition and convergence.

The Entertainment Management Program takes maximum advantage of Anderson's location in Southern California, the media capital of the world, to offer courses, speakers, internships, and field studies in the media worlds of film, television, music, theme parks, and new technology.