34 The transition from an executive job at a major entertainment company to life as an “independent” can be a jarring experience for many — like a bird in a gilded cage being released into the wild. Many studio content distribution executives enjoyed some of the best jobs in the business — with significant salaries and bonuses, healthy expense accounts, cushy offices, and plentiful support staff. Their IT departments fixed their inevitable tech bugs, and their travel departments helped them by arranging flights (where they turned left upon boarding), and organizing limos to meet them at the airport, which would then whisk them off to luxury hotels. Champagne would flow at studio premieres and parties on a regular basis. But now these perks are enjoyed by an ever-diminishing number of executives at the top of the studio food chain. Beyond these vanishing perks, perhaps the biggest loss for some is the regular access to key decision makers that major distributors enjoy. After a good run at occupying a seat that they never owned themselves, they’ll soon find out if their business connections were merely transactional or friendships that will endure unconditionally. If the latter, then the departing executive will have a leg up in transitioning into another full-time opportunity or to building a viable consulting practice. In any case, the care and feeding of their personal network is where a lot of their focus will shift as an independent. The executives in transition will need to make some decisions about what they hope their new careers will look like. In other words, what is the vision that will match the new reality? With comparably remunerated executive jobs diminishing, and perhaps some other factors, like ageism or a reluctance to relocate tipping the scales against their prospects, some will attempt to make a living as consultants, some will try to launch their own distribution or production companies, while others will change industries, and still others may just give up and “retire.” My goal here is to provide some hope for newly independent executives, as I’ve been at this same crossroads three times during my long career, after overseeing TV distribution at Paramount in 2004, MGM in 2011, and Endeavor Content in 2019. In the first two instances, I suspected that some other company would come along and hire me, and indeed this happened — but not until I endured prolonged periods where I had to “eat what I killed” as a consultant. Unless you are lucky enough to have received a generous severance package or you have other significant sources of income, you’ll have to figure out how to make a living in the interim. Here’s where every cliché in the book can come into play, but for me, it all boiled down to one basic mantra: “Get up, dress up, show up.” Well, maybe now in the age of Zoom, the dress up part (thankfully) isn’t as necessary, but the rest is true. In other words, if you are a new independent, you’ll need to get ready to start grinding every day to learn about changes affecting your industry, identify new potential opportunities, and expand your personal network. Trust me, there will be days that you won’t feel like making the effort, but your chances of success increase dramatically by consistently putting yourself in a position to connect with others, learn new skills, and uncover new opportunities. But before you do that, you should brutally assess your “value proposition.” Without a major company’s content to pave the way to future discussions, you must identify how you can offer value to potential clients and employers. Some executives will effectively use the experience gained in negotiating complex deals to their advantage, but others who are used to hammering out output deals and large packages for recognizable movies and TV shows will have difficulty adjusting to grinding out sales and pitching coproductions for less recognizable content. This is also where the new indies should think about the skills they can acquire that match the evolving needs of their chosen segment of the industry. We all can use a little reinvention, even if we don’t think we need it. In mentoring several transitioning executives throughout my career, I’m often surprised at how many of them seem to hang on solely to their primary skill set without any motivation to expand it. I encourage them and all newly minted independents to become students of whatever part of the business they want to pursue. Newsletters, podcasts, daily industry news feeds, etc. are all easier than ever to access and when you combine that with regular outreach to your industry contacts, future opportunities will come more clearly into focus. You’ll also likely identify potential collaborators along the way, something that I enjoy exploring every day. I named my company Marenzi & Associates for a good reason: anyone can become an Associate if they identify a substantial initiative we can collaborate on! For those of you who find yourself temporarily without a life raft, please know that there are many of us who have not only been able to survive, but to flourish as independent entrepreneurs. We support you and we are open to collaborating as your journey evolves. So pump up your confidence and check your ego before you set out on your new adventure. And unless the planets align for you, be prepared to grind every day. Good luck, get busy and make it happen! Transition From Major Studios to Indie Status Can Be Done October 2023 Career Talks Marenzi is the founder and CEO of SantaMonica, California-based Marenzi & Associates, which provides creative collaboration, strategic management advice and implementation for the media and the international entertainment industry. Previously, he served as head of Entertainment Sales & Partnerships at Endeavor Content, as well as holding president roles at Paramount International Television, MGM Worldwide Television, and UIP Pay Television. He received both his BA and MBA from Stanford University. By Gary Marenzi Perhaps the biggest loss for some is the regular access to key decision makers that major distributors enjoy.
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