Media Industry Finance & Accounting Media Accounting, Media Finance, Media Audit, Media Talent Payment, Media Sales Finance, Media Investor Relations
Filcro Media Staffing recruits media industry specific accounting and financial professionals to meet the talent acquisition needs of diverse media, music, broadcast and telecommunications entities.
TV broadcast networks, cable nets, station groups, radio, motion picture, music, mobile, digital publishers, MSO’s, media technology companies, telecommunications and media conglomerates are all supported for domestic and international recruitment.
Since 1985, Filcro Media Staffing has consistently and reliably provided recruitment services that facilitate the expeditious identification of media focused financial executives and senior financial leadership.
Variables such as the media organization's size, revenue, ownership, structure, geographics, media platform(s) and businesses are all relevant to Filcro Media Staffing’s specialized recruiting experience in the media industry.
With exceptional media industry recognition and over thirty years of media industry relationships, Filcro Media Staffing recruits and attracts the type of executive that most companies would not normally be aware of or able to identify and attract on their own.
From global corporate financial governance to national, regional and local media markets with departmental needs, Filcro Media Staffing brings forward uniquely qualified media focused financial and accounting executives regardless of the size of the organization, geographic or compensation.
Media sales, treasury, audit, talent, production, affiliate and licensing environments having unique accounting practices but are commonplace in Filcro Media Staffing’s recruitment repertoire.
From CFO to Manager of Sales Finance, Filcro Media Staffing is proud to represent all our client’s financial recruitment interests.
Below are a few examples of the diversity of our financial recruitment capabilities all focused on the media and entertainment industry.
Client Situation: The President of Network Sales identified Filcro Media Staffing (FMS) and Tony Filson (TF) to conduct the search based on the firm completing similar media centric financial searches at the Network and the parent company.
The president wanted to optimize financial operations, revenue optimization and financial reporting on a national basis. This new executive was to be a strategic financial change agent who could analyze financial process within context of national ad sales as the Network reached the billion dollar revenue mark. This executive would work closely with senior management in their executive offices and travel as required to institute the strategic and tactical policies to implement the President's initiatives in the five Network sales offices to include: New York, Chicago, Los Angels, Washington DC and Detroit.
Industry and Sector inclusion:
Broadcast Television Networks
Cable TV Networks
Media Sales and Buying Environments
Digital, OEM and OTT Broadcasters
TV Divisions of Motion Picture Studios
Filcro Media Staffing Commences Search
The Filcro Media Staffing Officer in Charge of Search, Tony Filson commenced the search in markets surrounding New York, NY and Chicago, IL to avoid a West Coast corporate relocation, if possible. Tony Filson concurred that a suitable universe of candidates with the appropriate media ad sales financial reporting experience within the Network's compensation range could be identified in the targeted geographics, based on experience with similar searches. New York and Chicago offered ample “Media Financial Reporting” populations to establish a suitable search universe at the desired cadence.
Filcro Media Staffing identified Major Broadcast Network, MSO and Cable Network financial executives establishing a diverse and ample search universe from both geographics. There were approximately twenty primary experience areas of interest that every candidate would have meet prior to being tiered for the search and then subsequent examination of management styles, mentoring and cultural fits.
Establishing continuity in the national sales organizations’ financial reporting to optimize Network sales revenue was one of the President's primary goals here. It was important that each executive brought forward could implement reporting that allowed the ad sales organization to anticipate vs. being reactionary and capitalize on inventory and planning where appropriate.
As this search was being conducted to establish a new line of financial reporting, the President was intimately involved in collaboratively establishing the skills and experience required. Prior to Filcro Media recruiting and establishing three tiers of candidates for universe compilation; the President and Tony Filson established consensus so ample latitude could be expressed in two areas, to identify the ideal Vice President.
The clear definitions set forward at the onset were “ideals” and no changes were ever needed during the search process. The President was clear as to what he was seeking in skills and experience. Based on Network strategic initiatives this new financial executive would require an unusual capacity for growth in a relatively brief period. It was essential that this Vice President of Sales Finance have a proven track record of functioning with autonomy strategically as a change agent charged with transforming process and accountability to optimize TV Network revenue.
The Financial Reporting and Management skills required offered some challenges at the onset based on the tactical and strategic role this person would play in developing the Network’s national financial infrastructure in Washington, DC; New York, Chicago, Los Angeles and Detroit. After the first week of recruitment it became apparent that New York as opposed to Chicago was going to be our primary focus during the search process. Everyone was very pleased with the planning and results.
A person who could quickly examine sales and financial process on a granular level and look at a “deal” to determine if it’s the “right deal” for the Network was essential too. This person could then emulate their thought process / workflow in others in the five national sales offices. We sought confirmation below, on and above line that these mentoring / training skills were a solid part of the new Vice President's experience. We also sought assurances that the new Vice President would remain effective, given the clients unique culture and reporting structures with the proper “capacity”.
Challenges the Vice President of Advertising Sales Finance
Generate analysis of actual vs. plan vs. forecast and explain variances, highlight trends, and identify risks and opportunities based on new metrics and analytics outside of traditional C3/C7 and upfront projections. Primary data was to be established vs. secondary as advantages to corporate reporting and the sales organization.
Track and maintain Registered and Closed Budgets for the Broadcast Upfront.
Create competitor analysis illustrating growth projections against competitors and the industry's overall projected growth.
Develop customized financial modeling of deal information and pricing details that would become available through the full cycle of the sales process.
Develop the rate card in support of the company's overall sales strategy including calculating total and average impressions, cpm’s, average unit rates, and revenue built based on TV programming and Digital properties.
Create program revenue analysis and forecasts providing variances to the budget and pacing vs. prior year.
Prepare and distribute the audience deficiency liability report to determine the amount of make goods that need to be aired and it's impact on each sales division's P&L.
Work in conjunction with credit manager to review and act on collection concerns
Review ad sales commission reports
Act as liaison with Network and Corporate CFO and staff to include; finance, reporting, accounting, audit and treasury as required.
Hire and train Financial Directors and or Financial Analysts in the Network's other sales offices to assure there would continuity across the national sales organization.
The Filcro Media Staffing Solution:
Filcro Media Staffing proceeded to Identify "exceptional" financial executives with the proper media sales financial analysis experience to facilitate the financial reporting and strategic goals desired by the President.
The mix of analysis and strategic involvement on a “deal” level were key factors in the tiering of candidates. The Network required a person who could function with autonomy across all lines within sales and also financially reporting to corporate finance as a cross-functional team member in a multi-billion dollar U.S. based media and entertainment conglomerate.
It was very important that process, workflow, and reasoning be able to be articulated “clearly” from conceptualization to planning, executing and brining solutions to fruition. We needed to emulate these traits in those that would be reporting to this executive in remote offices so we expected each financial executive who made the final tier to have exemplary mentoring and professional development skills.
The highly skilled audit and sales analysis executives we interviewed with “spot on” experience and hard skills would not work at this Network without the proper “soft skills”. We embraced those most apt to relate to a broadcasting culture that is unlike anything else in the industry. We wanted an executive who could relate to senior financial management outside of the broadcasting division. This executives would need to provide detailed sales financial models utilizing reporting methodologies that a CFO or EVP of Finance in a publicly held corporation could relate to. Justifications would have to be presented to non-broadcasting financial executives at times, who were not accustomed to nomenclature or OPEX in a national TV sales organization. The soft skill sets and capacity to articulate concisely to a board or executive committee and justify findings were essential as reporting into Divisional and Corporate finance on the CFO, Treasury and Compliance levels were real scenarios.
Successful Vice President Recruited:
A Senior Director of Finance who was also responsible for Network Sales Analysis with extensive Network financial advertising sales experience with one of the world's largest media and entertainment companies in their cable TV multiplex, MSO and corporate reporting environments.
Within both TV Network, MSO and Cable Net experience this financial executive had proven himself in every area of concern relevant to the goals established for this executive search.
This executive autonomously managed revenue analysis, yield management and budget development for a multiple Major Cable Network’s advertising sales planning groups for their multiplex. His responsibilities included preparing advertising revenue analysis, maintaining revenue forecasting models, budget tracking, assisting in the annual budget development process, managing commercial inventory utilization, conducting monthly reconciliation's with financial teams and developing new reporting tools for management.
His technology acumen with specific software utilized in the broadcasting industry was also an “ideal” as they were being implemented in the client company and this new Vice President could lead this finance technology effort with the broadcast and financial technology teams.
Prior to the above position this executive was a Senior Strategic Planning Analyst in New Business Development. He facilitated the financial and marketing analysis for multiple networks (multiplex) owned by another major media and entertainment conglomerate, which closely aligned the current OPEX of our client.
His capacity to identify strategic partnership opportunities for programming and interactive services, development of business models, revenue reporting, content licensing, budget development and management of the cable / interactive media plans for strategic partners in conjunction with Network production and operations teams, honed his ability to work across all lines of business. His experience reporting directly to the Network President and Vice President of New Business Development as well as functioning as lead with Ernst & Young, prepared him well for the duties he would take on at the new Network and the reporting structures he would implement when interacting with the CFO at corporate.
This Duke under grad, London School of Economics and Columbia Business School, MBA with extensive broadcasting experience proved to be an exceptional fit from a strategic and tactical perspective for the Network. He is by any measure a vital, proactive business and financial asset to the company and has received recognition for his devotion, work ethic and quality of work product.
Since completing this search the executive has been promoted and has successfully instituted financial policy functioning as a change agent. He has hired new financial directors and analysts and trained those internally to institute the strategic goals set by the President when Filcro Media Staffing was retained.
The media and entertainment industry's most recognized leader of talent payment and accountability across all media platforms. The firm’s goal with this search was to expand into new geographics and services that pro-actively complimented the diversity of the media and entertainment communities the firm services.
To identify a National Director of Talent Payment to be based in Los Angeles, CA - USA. - The President also put forward the option of New York or San Francisco to assure that the best in class Talent Payment Executive could be attracted and minimize relocation costs.
Due to attrition, the President required an addition to staff. The hiring executive saw this as an opportunity to expand the firm’s business, upgrade modality and build a succession plan.
Continuity going forward was paramount to allow for growth in the firm’s most active geographics in Los Angeles, New York & San Francisco. Los Angeles was the President's ideal.
Industry and Sector inclusion for Universe Compilation
Cable Television Networks
Digital Media Networks
Motion Picture Studios
Recording Industry & Music Producers and Publishers
National Payroll & Talent Payment Companies
The Filcro Media Staffing Recruitment Solution
The President voiced her preference of identifying the best person for the position and was willing to express latitude with compensation and where the Director would be based. The new Director's capacity to service a demanding and prestigious list of large media and entertainment companies was paramount.
The recruiting process started immediately and the search was completed in approximately (4) four weeks based on Filcro Media Staffing’s relationships in New York and Los Angeles.
The initial impression during the first week of the search was that layered environments lacked the scope and autonomy we were seeking in the new Director. The culture of the hiring company required a more hands-on executive than we were seeing at the motion picture studios and TV networks. Medium sized producers of syndicated content, talent agencies and competitors of the client company were the most prolific sources of “ideals”.
Filcro Media Staffing having extensive recruiting experience for TV Networks, motion picture studios and advertising agencies for talent payment personnel knew the key markets and environments to target for universe compilation, this factor and the aggressive stance requested by the President expedited every phase of the search.
Filcro Media Staffing presented candidates from New York, Los Angeles and San Francisco; all these targeted geographics were requested by the firm’s President and established (3) three tiers that had to be refined in (2) two weeks.
Successful Director of Talent Payment Recruited
In her current role at a competitor of the client company and prior at a media and entertainment conglomerate the new Director was responsible for all Commercial Talent contracts to include SAG, AFM, AFTRA, IATSE, DGA, BMI, ASCAP and others.
Currently managing a staff of 15+ consisting of Supervisors, Coordinators, Data Entry and Payroll Support Administrators the new Director of Talent Payment had strong experience managing employees throughout the United States. Her ability to manage nationally from remote locations was also desired by the President of the hiring entity.
With strong relationships with the various unions she was equally familiar with the motion picture studios, TV networks, digital content producers, music publishers, advertising agencies and the media and entertainment industry as a whole. Her media industry contacts and business acumen were a correct fit for client company.
Her Talent Payment acumen was respected well above the national mean. Unions and major media companies would often call her to to obtain guidance on complicated contract negotiations. This known presence in the industry would also allow for the recruitment of staff in New York, Los Angeles and San Francisco in the near future. She had a reputation of being a “good boss” and everyone who worked for her and with her, was complimentary on her management style, soft skills and results oriented modality.
Filcro Media Staffing’s extensive experience recruiting for Talent Payment executives in the TV, Motion Picture, Advertising and Music industries permitted the expeditious identification of an extremely talented Director of Talent Payment to facilitate the President's business goals.
The new Director was recruited out of Los Angeles so no relocation was required. At the final phase of the search process, The president was given options in New York, Los Angeles, Atlanta and San Francisco.
From the initiation of recruiting to the formal offer and acceptance a period of four (4) weeks transpired. Less than one (1) week was taken prior to the search to complete the Agreement and receive the firm’s financial obligations.
The President's availability and desire to complete the search quickly was key to facilitating this aggressive time-line.
The New Director became acclimated quickly and has accomplished every business goal set forth at the onset of this executive search.
Multinational media and entertainment conglomerate. Television, Motion Picture, Music, Digital Media.
The Senior Vice President of Finance identified Filcro Media Staffing (FMS) and Tony Filson (TF ) to conduct the search for a Director of Audit for the firm’s U.S. and LATAM Digital Media and Television Groups.
Filcro Media Staffing had completed prior searches for this group in Sales Finance and Affiliate Accounting. The Senior Vice President wanted a change agent to reorganize the firm’s audit environment in-line with initiatives that were implemented by one the big four accounting firms. The search had to be completed prior to the acquisition of media assets and a new CMS for content distribution in U.S. and LATAM markets.
Industry and Sector Inclusion
Big Four Accounting Firms
Multinational MSO Operators
Motion Picture Studios
Digital Content Producers and Distributors
Filcro Media Staffing is Retained
The Filcro Media Staffing Officer in Charge of Search Tony Filson was asked to commence the search in markets surrounding New York and avoid a corporate relocation if possible. Tony Filson concurred that a suitable universe of candidates with the appropriate audit experience could be identified in New York if the Motion Picture Studio experience related to the TV Network would be “added value” vs. mandatory. The SVP agreed and it ultimately led to the search coming to fruition quickly without the need for relocation.
Challenges Facing the New Director of Internal Audit
Streamlining existing audit practices for local, regional, national and international markets relevant to the U.S. and LATAM broadcasting, cable networks, interactive, entertainment segments and corporate departments.
Oversee 12 auditors in US and LATAM locations who perform operational, sales and management audits in multiple languages.
Coordinate with two external audit firms the completion of of a new LAN/WAN/SAN reporting system.
Lead an effort to re-engineer audit practices in LATAM and evaluate business risks of non-performing assets.
Fill a critical audit role in New York for SOX and audit committee compliance.
Filcro Media Staffing Recruitment Solution
Filcro Media Staffing proceeded to recruit (8) eight audit professionals with the financial and media experience required. Two of the candidates would require relocation.
Filcro Media Staffing initially identified (4) four New York based candidates with Big Four experience; (2) two New York based candidates with TV Network experience; (1) one Miami candidate with multinational MSO experience; (1) one Los Angeles candidate from a movie studio's TV division.
Successful Director Audit Recruited
Starting his career at KPMG and currently the Director of Audit for a publicly traded multinational media and entertainment conglomerate, this executive who spoke both English and Spanish was uniquely qualified.
Additionally, the new Director of Audit for The Americas had worked in financial reporting for a multinational Spanish language broadcaster where content was produced all throughout The Americas and distributed globally.
Having recently overseen an IT project that included new reporting software he was familiar with the LAN/WAN/SAN infrastructure project he would be overseeing as well as the vendor.
With 32 dotted line and 10 direct reports in and out of the U.S. he was accustomed to managing audit staff outside the U.S. and their support infrastructure.
With intimate knowledge of digital, TV and motion picture studio accounting practices he was perfectly suited to lead this group and be part of a succession plan the SVP had implemented with the VP of International Finance set to retire in (4) four years.
His knowledge of compliance in the media industry was highly respected and he represented his current employer at industry functions sponsored by the big four and technology symposiums for audit and financial reporting.
As a mentor he led a graduate program from his alma mater that attracted gifted financial executives while at the audit firm, the TV Network and his current employer. His soft skills offered a balance that would be needed in unifying U.S. / LATAM financial divisions that were territorial in nature.
Based in New York City, no relocation was required and the candidate accepted with great enthusiasm. There were two other candidates who made the final round and the SVP was prepared to offer the job to the Miami based candidate and relocate him if the New York candidate had rejected the offer.
The search was completed within the estimated time-line to coincide with the acquired assets and the new IT vendor for finance.
Major U.S. multinational advertising agency with offices in Hong Kong, London, New York, Los Angeles, Minneapolis, Sao Paulo, Tokyo and Singapore. The firm operates business globally and this search was relevant to creative production accountability for SAG, AFTRA, IATSE, DGA, ASCAP, BMI and AFM related administration in all their areas of operation.
The Director of Human Resources identified Filcro Media Staffing to conduct the search based on Filcro Media Staffing completing similar, senior level searches within the broadcasting, advertising, music, TV and motion picture industries in related creative production and business environments.
Executive Producers managing these environments as well as Programming Development executives in television and the motion picture industry had all utilized Filcro Media Staffing and the firm was retained to conduct the (2) two search for Minneapolis. The client had just lost (2) two key staff members and Filcro Media Staffing was asked to replace both at the same time. Filcro was retained to identify one senior, and one junior Talent Payment employee.
Industry and Sector Inclusion
Broadcast Television Networks
Cable TV Networks
Motion Picture Studios
Producers of Syndicated Programming
Music Producers, Music Publishers
Filcro Media Staffing is Retained
The Filcro Media Staffing Officer in Charge of Search Tony Filson was asked to commence a national search and establish guidelines to assure that both the Senior and Junior positions could be filled and that those identified would compliment and add value to the department's ability to service the creative producers and business management needs of the Agency.
It was the opinion of Filcro Media Staffing from the onset that a suitable universe of candidates could be identified in New York, Los Angeles, Minneapolis and Chicago.
Filcro Media Staffing being retained to identify both new employees gave the firm an assured understanding of succession plans as they related to the present skill sets and future capacity needs of each employee. Clear definitions were established with the Director of Human Resources, Executive Business Manager and the Senior most Production Executive. Filcro Media Staffing was provided with a cultural understanding of the firm that was from (3) three different perspectives within the agency. This un-myopic view was extremely helpful during universe compilation. Since Filcro Media Staffing was charged with identifying both the Senior & Junior Talent Payment individuals we there would be no “parity issues” as we separated the required skill sets and talent payment experience into two distinct job description.
The diversity of the production products included standard commercials, long form and interactive content made it challenging when planning universe compilation across the the entire United States. Establishing an initial universe of qualified talent payment candidates was done with no latitude expressed to the hard skills required.
The client opted to see the candidates from the Advertising Industry, first. The fact that Filcro Media Staffing reported directly to the hiring manager helped a great deal when what was presented as a “market driven search” was in reality “budget based”. Filcro had to share an immediate snapshot of the market in other cities and what would be required from a compensation perspective to attract their “ideals”. The client was attracted to the experience of senior and junior level candidates that had everything they wanted but exceeded their salary expectations by 15%.
Challenges Facing the New Talent Payment Employees
Formulating talent session and residuals estimates
Providing teams with estimate revisions as needed
Calculating and processing talent sessions and residual payments per media buy.
Updating payments as changes in a media buy occur.
Comparing payments against estimates and advising production teams.
Tracking holding fees and sending out monthly holding fee notifications.
Negotiating commercial renewals and reinstatement of commercials
Setting up and maintaining records of all commercials
Making reuse payments based on traffic information
Tracking holding fees for all commercials
Analysis of media plans and the ability to suggest cost effective schedule to the teams
Breaking down residual estimates into Excel spreadsheets when required by client and /or teams
Maintaining direct client contact while servicing diverse internal groups
Assimilating trends with industry practices and burgeoning new media like interactive, short-films, etc.
Mentoring and teaching others in and out of the department
International talent and celebrity negotiations
Direct relationships with music publishers
Filcro Media Staffing’s Recruitment Solution
Filcro Media Staffing Identified the "best in industry" talent payment managers who performed similar functions in and out of the advertising industry in Chicago, New York, Los Angeles, Detroit and Minnesota. Due to the uniqueness of the diverse skills required, the initial universe was weighted too heavily toward the top end of our desired compensation targets. It was prudent at that time to clearly define where we wanted to differentiate the Senior and Junior positions within the department. Concentrating on “ideal industry” experience as opposed to “ideal skill sets” ultimately led to the successful completion of the final universe.
Based on Filcro Media Staffing’s recruitment success in attracting candidates the hiring manager wanted to focus on tactical, autonomy and contract issues. This facilitated great clarity and it was then deemed appropriate by the client company to eliminate all candidates not coming directly from an advertising agency environment. The types of relationships this Senior and Junior person would have to maintain was indeed unique and the client hiring manager wanted as “short” of an assimilation period as possible based on the absence of similarly skilled individuals within the company.
The Executive Manager and Human Resources allowed Filcro Media Staffing complete latitude and both positions were completely tiered in less than (3) weeks and the (2) two Talent Payment employees hired were identified, recruited, attracted and delivered in less than (1) one month. This was a special request by a company that greatly needed and appreciated Filcro Media Staffing’s help when they needed it most.
The Successful Talent Payment Employees Recruited by Filcro Media
Senior Manager of Talent Payment from Detroit
Talent Payment Administrator from Minneapolis
Both new employees were from major advertising agencies.
The new Senior Talent Administrator had strong mentoring skills that would be needed from the onset. With two new employees starting at the same time we identified an exceptionally mature minded person for her years of work experience. She would be able to acclimate herself quickly as she helped develop her new direct report. Her extensive experience with “Big 3” automotive accounts had honed her skills in a demanding environment. This was a logical next step in her career in a “corporate culture” that played a key role in her attraction.
The new Talent Payment Administrator while lighter in experience had strong acumen of all SAG, AFTRA and AFM codes and contracts that would normally be acquired with many more years of experience. Again, the culture of the client company was key in attraction. The ability to accurately portray the skills and culture from the onset, assured success in the end. The lack of any relocation requirement was financially advantageous to the client and allowed an immediate transition.
Both these searches were completed as an aggressive cadence. The advertising agency was very happy they retained Filcro Media Staffing based on the time-line to completion and attracting such exceptionally qualified candidates to Minneapolis. The agency had attempted to fill these two positions on their own, prior to retaining Filcro.