BUSINESS DEVELOPMENT & ENTREPRENEURSHIP
Mama Mia Case
Yusuf Cihan Yagsatan
Mamma Mia is a successful stage show, their success leads to more demand from audience which leads to more performances resulting in a lot more critics. What can be done to sustain its success without being a moderate commercialized play?
As we have yet to define the main decision problem, there are two possible solutions step up within the set. First one is to add up more feature to the stage plan, play content, etc… simply by adding up something new to discover to the audience. The other one is to perform a new reviewed scenario with more visual content. We have decided that fisrt solution is much more appropriate for this masterpiece. Rather reviewing the whole scenario and corrupt its origins, adding up some small but modern details, like integration of the play with augmented reality and social media will be a very good idea. If Mamma Mia can enable an online experience of Mamma Mia during the play it would receive much more attention than the original version. Since the attention is considered as the new curreny, these increased attention rates will result in as an increase in the cash flow. IF think about a performance play while you can actually interact with the play real-time that would be the next level for entertainment and stage performance industry. With the help of hashtags and QR codes audience can experience more about the play, a counter argument may be put on this measure of change like what if the new adaptations will ruin the uniqueness of the play. This could be right to some extent but offering something new to the audience is mostly perceived as an update, something more advanced by the people. Enhancing the play with various utilities of modern technology or a screenplay it can enrich the whole experience of Mamma Mia
Mama Mia Case Questions
1. Can the performing arts be considered “an industry”?
WE can say that its an emerging industry all exclusive for 1st world countires due to importance given to art & entertainment rather than stability of economy. It is not hard to see that this is becoming an industry slowly and gradually in the United States of America. We can definitely say that they are creating a momentum in the sub-categories of daily consumption.. People who came to see the shows spend their money on activities, local products, services, and employees, etc… these momentum created by viewers also creates a cash flow within its range.
In USA where performing arts are spread widely and happens on a large scale and therefore ends up contributing a whole lot to the overall economy. According to the Broadway statistics it is estimated as per the years 2006-2012 that the estimated direct spending, indirect spending and related audience spending in total amounts to be more than 1 billion dollars per year, which happens to be a huge amount in this industry.. Even Mama Mia ended up brining a large sum of million dollars since 2003, contributing to the economy. http://broadwayworld.com/grossesshowenlarge.cfm?show=MAMMA-MIA!
In conclusion we can say that its still premature to call that as an industry however there are a lot of potential, as resulted from statistics its growing and reaching huge numbers not just only revenue scale but also the magnifiying effect of side-expenditures, created job opportunities, promised increase of audience life quality and maybe the more important aspect. Inspiration created by these masterpieces to posterity of society.
2. From an entrepreneurship perspective, highlight the issues that must be considered when dealing with creations in the performing arts that have cultural or classical roots.
The most important issue of the cultural root is the audiovisual content of the show. The story and the songs must be familiar to...