Search TV Network Chief Executive Officer (CEO)
Based New York, NY USA
Search Firm Filcro Media Staffing, New York, NY
Officer in Charge Tony Filson , New York, NY
Reporting to Board of Directors, New York, Nashville, Miami
A music TV network seeking a radical departure from legacy media distribution, broadcasting and consumer music entertainment assimilation. Looking to the future, and the way music will be produced, distributed, licensed and monetized across (8) eight media platforms, the firm retained Filcro Media Staffing to recruit an executive capable of the leading and building a unique music broadcasting entity.
Filcro Media Staffing prior to and subsequent to this search, conducted additional searches for the board members in business, technical and creative leadership roles.
Client Company Situation
Due to increased competition, affiliate agreements, music licensing costs and technology developments the board of directors opted to form a new company as a model for future multiplex, multicast music distribution across multiple music genres.
The board was seeking a CEO with solid efficacy in directing management and monetization within this space. The objective was to cut out legacy media CAPEX and start with a business model that vastly improved margins and lowered OPEX that was previously associated with 100-Million plus advertising driven Cable TV Networks. Utilizing OTT modalities, shedding NOC, BO&E CAPEX and OPEX were key here.
The CFO and Chairman of the parent company wanted to attract an executive with the capacity to leverage technology, content and distribution to the new TV Network's advantages across OTA, OTT, OEM, MSO, Mobile, Broadband, Cable Nets, Digital Publishers and White Labeling Modalities for primary industry advertisers and advertising agencies.
Executive Search Committee Member(s) Industry and Sector Inclusion
- Cable TV / MSO
- Broadcast TV / OTA
- Satellite TV
- Technology / Mobile
- Music Publishing / Music Distribution / Music Production
- Investment Banking / Media & Technology
The CFO identified Filcro Media Staffing (FMS) and Tony Filson (TF) functioning as Officer in Charge of Search.
Filcro Media Staffing is Retained
The Filcro Media Staffing Officer in Charge of Search (TF), The client CFO and current Chairman met in New York and set revenue goals for the Network. Based on Filcro Media Staffing’s experience conducting executive searches for other music and entertainment based TV Networks, the board of directors wanted guidance on a number of areas relevant to the future of broadcasting and broadcasting technology that could enable the Network to enjoy margins well above the industry mean, while greatly reducing OPEX.
Technology developed by the company for distribution gave them a distinct advantage over others in this space. The ability to multicast across eight media platforms without legacy BO&E and NOC costs was clearly one of the company's competitive assets.
The Filcro Media Staffing OIC and the client CFO felt that setting a new standard for music entertainment broadcasting would catch on quickly and they had to be prepared to execute at an aggressive cadence to monopolize on their intellectual property and music rights agreements. Filcro Media Staffing and every member of the executive search committee agreed on the recruitment strategy formed by the OIC to attract the proper CEO to lead the Network on business technical and creative levels.
Challenges Facing the new Chief Executive Officer (CEO)
- Evangelizing New Forms of Music Distribution & Monetization
- Attracting and Building Senior Management Teams in NY & CA
- Financial Controls that Excluded Legacy Media CAPEX
- Adaptation of New Technology to Affiliates and Distributors.
- Identifying a New Board Member
- Optimizing Back Office Management in NY, CA, IL, MI and FL
The Filcro Media Staffing Solution
Filcro Media Staffing proceeded with revenue objectives, team building, technology and genre specific industry experience at the forefront.
The initial universe of potential candidates was rich and obtaining insight into each candidate's experience with adopting new technology to transform broadcast brands and garnering buy-in from the industry was key. Evangelizing new modality to an industry steeped in legacy media with vast investments in broadcast technology and distribution that were no longer needed, would not be an easy task. Broad acumen with technology vendors, advertising agencies, Fortune 50-5000 clients, affiliate agreements and music media consumers were all essential as the board's plan was to be disruptive and position the brand as the new standard for B2B, B2C and C2C music monetization and broadcasting.
Of the initial universe of 20 screened and possible CEO’s, 4 were separated as first tier candidates and after extensive interviews, Filcro Media Staffing, the client Board, and the investment bankers all agreed that one executive was highly desired and every effort was made to attract this talented executive in New York.
Successful CEO Recruited
A CRO of a large multinational media technology company who prior to that role was the CSO of a music and entertainment TV Network.
With immediate U.S. and LATAM Multicultural market priorities based on current affiliate agreements, this new CEO was ideal.
Having broad management experience in all business, technical and creative areas relevant to the Network, the CEO had clear plans to also attract key Vice Presidential level executives he had relationships with. His tactical and strategic capacities to plan, execute and bring new media product dissemination to fruition were noted in the industry.
We are limiting this case history as requested by the board and wish the firm and their board well through their M&A activity.
Subsequent to this CEO executive search engagement, Filcro Media Staffing was again engaged by the board to help spin-off the Music TV Network so a multinational music / media conglomerate could gain access to U.S. markets by acquiring the firm's digital assets and music libraries. Filcro Media Staffing successfully identified a buyer for the TV Network and guided the acquisition to fruition.
Filcro Media Staffing provided executive search firm and media management consulting services as designated by the board successfully.
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