Ultimate magazine theme for WordPress.

BUSINESS LEADERS, INDUSTRY EXPERTS & PHILANTHROPISTS CONVENE TO SHARE THEIR INNOVATIONS IN BALANCING PROFITS & PURPOSE AT BUSINESS OF SPORT AND ENTERTAINMENT ROUNDTABLE AT 2018 COMMONWEALTH BUSINESS FORUM

0

BUSINESS LEADERS, INDUSTRY EXPERTS & PHILANTHROPISTS CONVENE TO SHARE THEIR INNOVATIONS IN BALANCING PROFITS & PURPOSE AT BUSINESS OF SPORT AND ENTERTAINMENT ROUNDTABLE AT 2018 COMMONWEALTH BUSINESS FORUM

  • Business of Sport and Entertainment Panel convened prominent figures from Sport and Entertainment.
  • The panel was chaired by CEO of Sterling Media and CWEIC Advisory Board Member Natasha Mudhar. The Business of Sport and Entertainment Panel was hosted by Sterling Media, who were selected as the Official Global PR & Communications Partner for the 2018 Commonwealth Business Forum.
  • 2018 Commonwealth Business Forum (CBF) underway alongside the 2018 Commonwealth Heads of Government Meeting (CHOGM) in London this week across three iconic locations attended by 800 business leaders and 30 Heads of Government.

 

London: The Commonwealth is a natural hub for the entertainment and sports industries with 3 of the world’s top 10 film industries – India, UK, Nigeria – and a thriving sports community as demonstrated by the Commonwealth Games.

 

Leading entertainment and sports figures from across the Commonwealth came together to discuss the Business of Sport and Entertainment, at a roundtable hosted by Sterling Media for the Commonwealth Business Forum (CBF), which took place at the Queen Elizabeth II Conference Centre.

 

Chaired by CEO of Sterling Media and CWEIC Advisory Board Member Natasha Mudhar, the Business of Sport and Entertainment round-table featured a compelling and insightful exchange of ideas and knowledge, as some of the Commonwealth’s most entrepreneurial minds in sport and entertainment discussed how the commonwealth sport and entertainment industries can take advantage of new revenue streams, channels of communication, distribution, and partnerships, and whether, in an ever-changing volatile climate, the sports and entertainment industries have a moral obligation to be more socially conscious and focused on purpose.

Moderated by Dr Kamel Hothi, Non-Executive Director for Sterling Media and Advisor for the Queens Commonwealth Trust, the panellists included prominent figures in entertainment and sport including:

  • Satish Modi, Chairman, Modi Global Enterprises which includes the company Regent Films, focused on cross-collaborations in the film industry. As author. Mr Satish Modi also wrote the book In Love with Death, which he will now be adapting for the big screen
  • Robert Maxfield, CEO, Professional Golfers’ Association (PGA), has raised the profile of the PGA brand and created employment opportunities for its Members.
  • Paul Smith, Director of City and Spectator Experience, Cricket World Cup 2019 has more than 20-years’ experience in the sports industry, working across a range of major events and tournaments including the Athens, Beijing and London Olympic Games
  • Hannah Wood, International Campaign Development Manager at Comic Relief leads the charity’s international portfolio through planning and delivering new and strategic initiatives outside of the UK, including overseeing the launch of Red Nose Day in America.
  • Ian Stokes, Managing Director, StadiArena has worked in both the public and private sectors, serving business-to-business clients throughout the UK and Europe.
  • Ragi Moonsamy, Managing Director, Unipalm Investment Holdings, a group dominant in Property, Mining, Telecoms, Media and Technology. His extensive business experience and strong discipline has made him one of South Africa’s most dynamic business leaders.
  • Dr Nnaeto Orazulike, Group Managing Director, Genesis Group, a multifaceted business group headquartered in Nigeria with inters in cinema through the company Genesis Deluxe Cinemas.

Opening the discussion, Natasha raised the point that there has been a proliferation of new revenue streams, markets and distribution channels for entertainment and sports, which has helped to enhance the bottom line. She mentioned how in recent years, many more businesses are seeking to reposition their brand purpose and vision, in response to creating a more authentic, relevant and meaningful conversation with stakeholders, and how the focus is shifting from profit to purpose. She then commented on the power of entertainment and film in creating social change, saying “Entertainment in action tells us that you can inspire and entertain in equal measures.”

Many of the panellists agreed that income streams have expanded for the industries, especially within the Commonwealth. Speaking about the growth of his Genesis Cinema chain, Dr Nnaeto Orazulike, Group Managing Director of Genesis Group said that renewed interest in home grown entertainment and the rise of Nollywood mean that he’s now expanding cinemas to further states in Nigeria, particularly amongst an emerging middle class, saying “Ten years ago we saw barely 5% of these films being shown, now it is 35%. Demand is increasing thanks to the middle class.” Similarly Robert Maxfield, CEO, Professional Golfers’ Association discussed how a new ageing market was helping to develop Golf as a sport, and the drive to help diversify further through attracting more female players.

Paul Smith, Director of City and Spectator Experience for the Cricket World Cup shared how Cricket has adapted to increased streams of income and interest with the T20 games, designed as easy to market to new customers as well as new countries, increasing the potential for growth in the sport.

 

Ian Stokes, Managing Director for StadiArena agreed, highlighting how his company looked beyond stadium construction as their primary income stream, making revenue by convening community and lifestyle interests.

One of the major points discussed and raised at the panel was focused around social responsibility: whether the sports and entertainment industries should be socially conscious or if this should be a task for the not for profit sector and governments, and what initiatives, if any, are being undertaken to expand and measure the social footprint of these industries.

Paul Smith highlighted the power of sport, saying that “Sport is one of the few things that has the power to bring the whole nation together. Major sporting events can see up to 25 million people uniting as one together to support a united cause.”

Ragi Moonsamy, Managing Director, Unipalm Investment Holdings responded, highlighting the responsibility of sports stars and entertainment stars to be truthful, saying “The answer extends beyond any form of documentation. The core thread is trust, and we need to be able to trust influencers in sports, politics, religion and entertainment to conduct themselves in such a way that will positively influence the youth who look up to them.” He also highlighted the need for sports to return to its core objective and message, that being to promoting excellence and the importance of the entertainment industries fulfilling more realistic ideologies as opposed to escapist.

Hannah Wood, International Campaign Development Manager at Comic Relief agreed on the power of sport, by referring to its value in bringing people together with a view to raise charitable funds. She also recognised the challenges of a changing market place, but noted the role of corporate partnerships, saying, “Corporate partners can help us get the product out there which is the symbol of something bigger.”

Responding to a question from Dr Hothi on the role of social good in building sport stadiums, Ian Stokes said highlighted the relationship between Business and Sport along with education and health as four pillars for development, saying “It is nice to see how development in the regional level is spilling over into the national level, as demonstrated by India in the recently concluded Commonwealth Games in Australia.”

Satish Modi, Chairman, Modi Global Enterprises, explained his own view that “What you have will not go with you, but what you give will. That is the reason why I am motivated to give back to the downtrodden and those without access.”

Following a dynamic discussion that encompassed a range of ideas including partnerships between education and cinema, and videogames and sports, convergence as a driving force behind purpose emerged as the theme of the panel.

 

Concluding the session, Natasha and Dr Hothi then proposed a code of conduct that all current and upcoming influencers in sport and entertainment should sign to ensure that they practice and demonstrate positive messages. Natasha also stressed the need to turn awareness into action as a result of the panel. Encouraging each participant to become changemakers as a result of the session, Natasha called for the panel to reconvene in the near future to continue the discussion surrounding the business of sport and entertainment in the commonwealth, creating a legacy of collaboration and shared ideas between the two industries.

The panel was hosted by Sterling Media, who are leading the global communications for the CBF as the Official Global PR and Communications Partner for the event. The CWEIC are working closely with Sterling Media to communicate the strengths of the Commonwealth network for private sector and Governments alike at the forum this week. Speaking about the session, Natasha Mudhar, CEO & MD of Sterling Media said “This session has been a strong reminder of what is possible when two industries like entertainment and sport come together for the common good. What we have discussed here, transcends not just the boundaries of business but continents and across 53 Commonwealth Nations, to converge ideas and cultures for creating a larger platform to deliver social good though the business of sport and entertainment.

It’s been an honour to chair the session and I now look forward to moving the needle from ideas to actions. As part of the 2.3 billion strong Commonwealth, it’s our responsibility to help facilitate and deliver change though two of the world’s most popular institutions – Sport and Entertainment.”     

The CBF is organised biennially by the Commonwealth Enterprise and Investment Council (CWEIC) and is taking place ahead of the Commonwealth Heads of Government Meeting (CHOGM) later this week. Taking place between 16-18 April in London for the first time since 1997, CBF is an exclusive event that has convened 800 senior business leaders alongside 30 Heads of Government at three iconic Central London venues.

Discussing the session, Chairman of the CWEIC Lord Marland of Odstock said, “One of the key elements bringing together the Commonwealth 53 nations, and with it over 2.4 billion of the world’s population, is the business of sport and entertainment. The Commonwealth is increasingly influential hub for both sport and entertainment, as evidenced by the success of the recent Commonwealth games as well as the fact that several Commonwealth nations – India, Nigeria  Malta and the UK have some of the world’s most prominent film industries.

Therefore we are delighted that prominent figures from the sport and entertainment industry are here at the Business Forum. I am delighted that Natasha Mudhar from Sterling Media who represents many media and sports organisations ls to chair this session which truly celebrates the spirit of the Commonwealth and its citizens.”

 

 

Leave A Reply

Your email address will not be published.