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The former president of Sony Music advises creative entrepreneurs

Today, we launch The Business of Creativity Series which will include a series of 12 interviews of You-Tube with personalities from the creative sector.

Our topics may be names you do not know automatically, but these are the "power behind the thrones" of the global entertainment and creative industries and you most likely interacted with their work. By listening to their stories, we can inspire ourselves and a generation of creative entrepreneurs and start-ups can learn how to continue their business and pay their bills.

The creative sector is an important sector in terms of the economy and employment on a global scale, but few operators within this sector include really the commercial and creative elements and struggle to combine them successfully. Too often, creators find money "a big word", and investors find creative fun, but not serious business people.

According to a report by UNESCO and EY in 2015, the creative economy employed nearly 30 million people worldwide and generated $ 2.25 trillion in revenue – or 3% of GDP global – in 2013. This is significantly more than global telecommunications ($ 1.57 trillion) and greater than the GDP of India, Russia or Canada
In the United States alone, it is worth $ 700 billion and in the United Kingdom £ 83 billion a year. The table below shows the dominance of the sector in various countries.

 2016-12-23-1482499288-8820399-Creaativetable2.png "src =" "width = "526" height = "536" /> <br /> Despite these measures, the creative sector could be even more successful, since much of its success is accidental and is not actively cultivated as a business strategy . </p>
<p> For the Business of Creativity series, I have carefully researched and selected creative entrepreneurs who have succeeded on a large scale because of their seamless integration of creativity and commerce. </p>
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Ged Doherty is our first interview subject in this series.

Ged is actually the very embodiment of a creative entrepreneur and is considered a royalty of the entertainment and music industry around the world.

His story is firmly rooted in the music industry that saw him take over the position of CEO of Sony Music in the UK for a decade with artists such as Dido, Beyoncé, Kings of Leon, Foo Fighters and Calvin Harris.

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<p> He was president of the Brit Awards (UK response to the Grammys) – not that they needed a comparison with the Grammys because the UK has one of the is the chairman of the BPI (the UK body of the music industry) and is the co-founder of Raindog Films, 5 years old, alongside his business partner, Colin Firth, winner of an Academy Award </p>
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Ged has enjoyed tremendous success with a career that has brought him across all spheres of the entertainment industry, from managing artists to the president of record companies going through the owner of an award-winning film and television production company. people, Ged is emphatic money does not drive him – and he is honest – he is driven only "by the art".
Still, he has a commercial success.

So, how do we achieve balance between these two? Are they contradictory or complementary?

Ged's philosophy is simple: If you take care of the art, the trade will always take care of itself . Moreover, he intrinsically understands that to achieve the level of success with his art, money is both necessary and a measure of the added value of his work in the economy.

Moreover, he intrinsically understands that to achieve the level of success with his art, money is both necessary and a measure of the added value of his work in the economy.

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Ged's name is regularly pronounced in the same sentence as another creative / commercial genius, "X-Factor" and "Got Talent's" Simon Cowell.
When Sony's president, Ged oversaw the joint venture in which Sony bought 50% of Cowell's Syco Record Company – one of the most innovative offerings of the 21st century entertainment industry , which sought to create music, television and digital.

So, what was the thought process that initiated Ged's path into creative entrepreneurship?
Why leave the security of the world's high-paying businesses and embrace the spirit of enterprise? Why go from the top (president) to a start-up?

"I consider myself a serial entrepreneur When I left Sony, I left the support environment of a company I approached my friend Colin Firth (winner of an Academy Award and Ged's partner in his latest project, Raindog Films) and I said that I wanted to start a film production company. He wanted to start a music business. have compromised and decided on films first and music later. "

Raindog films have enjoyed phenomenal success in the first four years of their lives:
Their film Eye in the Sky was voted first at the Toronto Film Festival in 2015 success, doing the American box office Top Ten. Their second film, Loving was critically acclaimed at the 2016 Cannes Film Festival.

All of Raindog's films are made with the goal of adding social value – and in this way, they have a unique selling proposition (USP) in terms of business that attracts customers and this income. Two of their films are in the running for the Oscar contest in 2017.

It is too easy to write this as a music mogul and a movie star who already succeeds in succeeding.
But business is not so simple and creative businesses are even more complex. Ged had never run a film business before and Colin Firth had never been to the camera producer side.
Yet, by offering unique content at the highest level, they attracted investment and revenue and Raindog films were successful. ]

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The creative sector is everyone's wallpaper on the life of the planet and, therefore, culturally and economically important to the world. Below, the UNESCO / EY report shows a city ranking for the creative sector.

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Yet, creative start-ups have great difficulty in getting financing to start and grow, and they are often not taken seriously by the business community or seen as progressive as are technology entrepreneurs.

Ged's departure board for them?

"Concentrate on your art and commerce will take care of itself."

Given the parameters of the creative sector as it is, no advice should be necessary to the investment community. Yet this is the case
We can all encourage them to take a second look at investments in this sector and realize the important "investment capacity" of this millennial industry.

See the complete interview of Ged Doherty on You tube Channel:
Michael Jacobsen-Entrepreneur