Elevation Photos Blog

The Value of Valuation, Be Wary Of it!

In the WSJ this past Tuesday, there was an article about how Twitter is having a hard time filling it's positions because they need to take that much more time to find the right fit. Yes, they are growing by leaps and bounds, are signing up droves of (let's wait and see) loyal twitterers each minute and yet still haven't figured out how to monetize any of it.  ( Hey guys, charge 50 cents to sign up you will start making money!)

Back in 2000, Image Direct shared office space with a company called Jumpcut.  Jumpcut was ahead of its game in terms of the demand for video, media and its place in how the world was going to ingest information. Unfortunately, I knew it wasn't going to work out when the CEO was more interested in playing video games on the $50k projector and scooting around the office on his razor and wasting countless hours sitting on his $1000  Aeon chair trying to talk up his company I knew it was doomed.  Well, when I read about how the co-founders of Twitter are concerned about corporate culture and creating one by engaging in "rituals" such as family style lunches, weekly teas and/or happy hours I couldn't believe it.  No , really I thought, are they past future CEO's who think this is a dot com boom again?  Get with it Twiiter! With a supposed $225 million valuation estimate, you really need to stop playing in the sand and start planning a stratospheric leap out of the sandbox and onto to the adult playground.

The day after I graduated NYU as an undergrad, my first job was working at Annie Liebowitz photo studio on the Westside of Manhattan. It was a fantastic experience even though I was like the 4th 1/2 assistant /intern/order taker!  Remember those iconic Gap ads she did back in 92-93?  Well, you're talking to the kid who painted that cycolorama GAP WHITE probably a gizzilion times that Summer of '93!  But, it was truly an amazing experience and probably the reason I got myself involved in the business of celebrities to begin with and perhaps one of the reasons why I didn't want to be a photographer but more on that another time.  I met a lot of great people, witnessed some amazing shoots and even had a few lunches with Annie, her partner the late Susan Sontag and some countless other intersting people. For a 21 year old kid, that was a cool Summer indeed. What's the point of all this Mick?  Basically, reading about how Annie is bankrupt, had to sign up with Getty really kills me. Not in a million years did I ever think a succesful woman like Annie Liebowitz would have to claim bankruptcy! 

The valuation of her , Twitter and countless other brands on the outside may come up with astonomical numbers and/or figures but when you look under the hood it may be a different story. This has nothing to do about the power of the brand but more to do with the value of it, what it costs and how much it's really worth and that's why investors and the public seem so skitish and wary of a company like Twitter and are so shocked about a bankruptcy claim by one of the most iconic photographers of our time.

Busy days ahead, planning to head to NY in a few ( exciting announcements to come) and continue to talk about the value of what Elevation Photos can bring to a company and how we can help them accomplish their needs. 

The power of the brand is only as far as the companies that sign up with it!

 

Predictably Irrational

(Brad Pitt and Angelina Jolie by Chad Buchanan/Elevation Photos) 

On NPR the other day, author Dan Ariely was discussing his book called Predictably Irrational.  Although I haven't yet read it, it's basically a book that delves into the minds of both the consumer and producer of market capitalism and something called behavioral economics. 

For sure, this type of study can be applied to all sorts of decisions you and I make about the choices in our lives.  For instance, last night's American Idol winner was clearly the irrational choice based on what everyone predicted ( that Adam was the clear winner) and so really wasn't a suprise for those of us who thought it made perfect sense that the underdog will and should win this time around.   

Newsweek's decision to change the font, look and feel of its magazine out now follows somewhat of the same mentality. It's predictably irrational that a lot of smart owners and business decision makers at Newsweek thought that by changing it's look and feel more consumers will want to buy and or subscribe to the magazine now that it has made these cosmetic changes. I am afraid to say that won't be the case.  Adding an extra pint of blood to an already dying patient only prolongs the death by only a few days.  

Having said all this, let's apply it to the photo industry because there seems to be a lot of predictably irrational actions and decisions a lot of us do each and every day. The obvious one is why Getty Images still decides to cover even B and C list events with triple sometimes quadruple coverage.  A not so obvious one is why contributors who work for them think that they will have a chance to make more money, shoot quality events or even be allowed to inquire about shooting something like the Oscars, Golden Globes or an A List premiere.  You can preach to the choir enough times but if the choir are wearing earplugs there's nothing anyone can do! 

(Sammy Hagar and Michael Anthony from Chickenfoot by Devin Stone/Elevation Photos) 

Sometimes predictably irrationality works as in the case of the newly formed Chickenfoot with lead singer Sammy Hagar, ex-Van Halen bassist Michael Anthony, super guitar guru Joe Satriani and the drummer from the Chili Peppers.  If you're good enough all the factors of why it shouldn't work sometimes do and in the case of these guys I am sure they will gather enough fans to continue their new rock journey!

In most cases though, predictably irrational behaviour has pervaded our society in so many ways. The banking industry, for example, is a clear example of how regular everyday people can be cajoled and bamboozled into thinking that taking out a 0% interest mortgage, with no money down makes sense. Or the fact that rich folks would trust a guy who tells them that one would make a continous rate of 10% return each and every year should you want to put money into something called the Madoff fund! And the best of them all, that it makes sense to purchase an SUV built for times of war, repackaged and called a Hummer at more than $60k that needs $100 to fill up its tank! 

If we're smart, we can do better and make smarter decisions.  But, history has a funny way of repeating oneself so the jury is still out about all the changes, both politically and economically, Obama is trying to push through. 

As for the photo industry, I hope and pray that more of the same gets thrown out along with the baby water. It's time for all of us to think hard about what kind of business we want to be in, how we're going to be succesful and what are the best options for making this a leaner, smarter business. Elevation Photos is trying to take a different approach and 16 months after launching we are still trying to re-invent the wheel.  It's hard to take patients off of crystal meth when that's all that they have known for years!  As a son of two doctors, patience with patients is something my parents always taught me to think about in terms of changing people's way about themselves! But, if you believe in a full recovery, make the necessary adjustments to the prescription and stay the course in terms of the rehabilitation you can only be succesful.   And that's exactly what I plan to do over the next few days as we head into the long weekend. 

So, enjoy your days, get some well needed R&R and think about all the decisions you make.  Like, does it make sense to order the shake along with the large fries?  Or is it better to get small fries and a diet coke?   Whatever you decide to choose, I am sure it will be predictably irrational....

Elevation Photos Returns To Cannes!

(Abbie Hornish, Jane Champion by Chad Buchanan/Elevation Photos)

For the 2nd year, Elevation Photos made it across to France for the Cannes Film Festival! While it'a bit toned down this year the celeb factor should get better as the days progress.

Rumor has it Brangelina will be making an appearance this weekend to promote's Brad's new movie by Quentin Tarantino so let's wait and see.  The festival could use star wattage like the two of them always bring.

Elevation Photos got some decent placement from last years festival and look for us to continue to make our name known each and every week.

In this week's Life & Style photographer Mark Savage was on assignment and shot a portrait of actor Peter Facinelli at his home in Los Feliz. Check it out it's on page 37!

We also got a hit from the Costume Institute Met Gala in US with Blake Lively and she also was in the new InStyle Hair issue as well with a 3/4 page spot...nice job Evan!

(Christian Bale at Terminator Premiere by Brian To/Elevation Photos)

We also were at the Terminator Salvation Premiere last night here inLA. I hope this movie can match the intensity and clever writing that Star Trek has brought to the table. I loved Star Trek and plan to see it again this time on IMAX!

(Tiffanie Amber Thiessen by Michael Underwood/Elevation Photos Right)

Finally, last night Elevation covered USA today's Character red carpet ....love that we were 2nd on the line next to Wire Image. And for the Cartier Event in NYC we were called 3rd after AP and Getty!  Now that's what I call elevating our agency...stay tuned you haven't seen anything yet!

Earlier this morning, Elevation launched its first ever emarketing campaign and already have received some solid feedback, positive compliments and an overall message from our customers that it's nice to have a solid, quality alternative to what's being offered now.  And that's exactly what we are trying to build here every day.  It's not perfect but so what that's what makes it challenging and you need to strive to be succesful.

Before signing off for the weekend, make sure to follow us on Twitter and look for our Elevation Photos Facebook page to go up early next week.

As for me, I'm living , eating and breathing everything NY Mets since they are on their WEST COAST swing and I am all set for them to come to LA starting MON thru WED...Their in First Place now and eeked out a win last night in SF...

Have a good one and speak , call, email, see, skype with you soon...

The Conversation Prism aka The Social Media Landscape

 

In the words of its creator and the blogging king himself , Brian Solis, welcome to PR  2.0!

Bookmark his blog NOW  http://www.briansolis.com/index.htm

If you ever have a chance to hear this guy talk or go to his blog for some great social media perspectives I suggest you do. He's the inside track of all things web 2.0 meets pr 2.0 and has made a nice career for himself consulting start-ups, tech firms and social media companies. Really smarty guy and someone I definitely follow and bookmark to see what all the kids are in to! On top of that, he's a nerd with a personality and everyone has to love that!

Whether you own a photo agency, media company, fashion site, manage a band you name it the old way of distributing images and/or your message or yourself  is over.  WHO CARES about the wire services anymore. Agencies, media are fooling clients in to thinking they need their service to get their images, thoughts, message out through the soon-to-be-archaic-already-happening-dinosaur way of distribtuion through the traditional channels. According to this chart, Mr. Solis and many others, print will die a slow death and readers are already gravitating to this avalanche of social networks taking over the world wide web. What this has done is level the playing field, destroy old media and changes the rules of the game in terms of companies, people, artists getting their message out through new media and new platforms. Elevation Photos works hard EVERY DAY to change the way PR and publicists want to get their message out.  It's a religion I live by, have gotten business through and have identified and met with key media/PR in to making this the new distribution platform!

If you are a PR firm paying Getty or the AP or other large media client I beg of you don't be fooled in believing that theirs is the largest, baddest, biggest network for distribution.  They aren't only tricking you in to believing that but they are taking you back down a road to the past!  THESE DAYS ARE GONE!  Trust me, believe in me and hear me when I tell you that Elevation Photos has had monumental success in following the new social media revolution.  I used to be afraid of sharing my knowldege base but you know what, if you aren't hitting these platforms you are a day , a week and a few years too late! And that's fact not fiction. GET WITH THE PROGRAM!

There is definitely an underground movement taking place bigger than what people know and mentally adapting to guys like Solis are the only ways those working in the media now will survive!  Monetizing for images, music and the rest of what media giants used to pay for will actually revert back to placing value to what we all create; whether that be through images, music, social networking sites, etc.  I have always preached the need to holding value to what you produce.  Once Porsche started selling their BOXTERS for less than $50k it became a non essential must have brand that appealed to the general masses!  My point here is that if there are people willing to pay for the best one should never pay less than what its value is really worth.  Do I think that Elevation Photos had the best Oscar Images that night?  I am biased and will say OF COURSE WE DID but the real play is how you can sell it, package it and make people believe that your images are the best edited, best imaged, best positioned and you worked 100x harder than everyone else.  What happened?  Well, the pay off was there, we got huge hits and the value of the images was not lessened or given away.  Now that, my friends is the power of persuasion backed up by actual results and packaged out to this social media globe we find ourselves immersed in every day.  You build it and people will come. You believe in it and that's icing on the cake!

This tangental existence we find ourselves living in with respect to Solis' conversational prism will only become more influential to the point of relative prevelance in the way we live our lives and interact with one another.  It's already been happening and the photo busines is only a few minutes in history away from making the change.

I can't wait for it!

Motherboard Fried To Pieces!

So, I'm finally back on the grid after a trying couple of days dealing with the implosion of my laptop ( I just missed the warranty by 2 months!)

The one thing I definitely miss about working for a big company is definitely the IT department that's for sure.

Being off the grid did make me realize how dependent we all are on technology and all of its quarks! So, when photographers tell me this froze up, that blew up, etc. I am more inclined now more than ever to believe that all of our gadgets and gizmos are probably built to fail!  In a sad but true way that's probably the reason warranties only last for one year!

What I was able to appreciate through all of this was the fact that  being unable to communicate efficiently via email made me reach out , make more phone calls and really hone the pitch about Elevation Photos!  I LOVED IT!

Anyway, thank goodness I saved all of my software discs and dealing with Adobe was actually a pleasant experience when retrieving my programs , etc.  So, my recommendation to you all is to save your programs, back up all your critical files and applications and write down all of your passwords!   It's incredible how much we all have in our brains when just a few simple tasks will save you a lot of headaches down the road! 

On that note, I have a lot of blogging to do so come back I promise I will be more interesting this week....i've read a whole bunch of interesting articles and opinions that I want to share with you ...Elevation Photos is moving along and we are working on some cool things that I can share with you all soon enough!

Good night

Why Wonderwall Isn't That Wonderful....

When MSN's new entertainment site Wonderwall (http://wonderwall.msn.com/)  launched back in February 2009, I wasn't that impressed.  I thought it was a cool looking site but nothing else so I bookmarked it and moved on. 

I'm still not impressed but after the NYT's article yesterday praising its success it's no wonder it's going to sky rocket to users bookmarks and perhaps , dare I say it, surpass People.Com as the Number 1 rated celeb/entertainment site in 2009. Why I say? Well...

The general public are a predictable bunch of folks in the sense that with respect to the way one presents their content and wraps it up in pretty bow, generate quality content to show for it and launch a PR blitz like no tomorrow, Microsoft still proves that having deep pockets does matter. And when it comes to winning the public with a site like wonderwall, it has succeeded.  That's why when I say I am not impressed it's because, well, I'm not.  Cool Iris now known as Piclens created this viewable wall platform about 2 years ago.  In fact, Elevation Photos feeds to it everyday as do others so in terms of technology, it's an old platform rebranded now through Wonderwall.  You add some flash HTLM and you have the glittering celebs at they fill the screen scrolling through a daily feed of events. But you power that with 2 former hollywood executives and well, there you have it; instant hit just like a TV show with great reviews.  Piclens should have hired them!

What I will say, and something I have always written about, is the fact that users like seeing content presented differently.  Wonderwall will launch a million sites just like it I have no doubt about it but that's what's great about technology. You build it and they will come.  For example, I love Smart Money's Map of the Market  http://www.smartmoney.com/map-of-the-market/   

It breaks down each industry by sector, highlights the winners and losers each minute and gives a quick visual overview of the state of the financials and allows one to gauge how their investments are doing.  Now, everyone has a little fund tracker on their business sites.

Of course, Wonderwall and all these sites need the content to survive and that's a bigger issue in the world we live in.  Does an image on a home page scroller cost more? or less? will the ads generated on the site have a big payday for those involved?  Is it too new to price the ever changing online world we live in?  All important questions but one thing is for sure, if I were TMZ, Perez or OMG!...I'd be taking notes!