Harvard Business School: Where MBA, Beyoncé and Football Converge
When we think of MBA graduates, we often imagine individuals working in management consulting, investment banking, venture capital, technology and other such fields. According to Harvard Business School’s employment reports from 2019, Financial Services (29%), Consulting (21%) and Technology (20%) were the major industries which attracted graduates from the business school. However, other industries fall short compared to the big 3, with employment statistics showing numbers that vary from 3 to 7%. The Entertainment and Media industry is no exception.
Taking a look at Harvard Business School’s employment report for recruitment in the Entertainment and Media industry from 2015-2019, the number of graduates working in the industry has remained constant. Over the past five years (i.e. from 2015 to 2019), 2 to 4% of Harvard Business School’s graduating class has started working in the Entertainment and Media industry immediately post graduation.
According to American industry analysts Vault, the U.S. media and entertainment industry contributes roughly $632 billion to the country’s economy, and represents a third of the global industry. Despite being a major contributor to the U.S. and global economy, the media and entertainment industry still lags other industries in recruiting MBA graduates among its talent pool.
However, things might be poised for a change due to the efforts of individuals such as Anita Elberse, the Lincoln Filene Professor of Business Administration at Harvard Business School.
Anita Elberse
Anita Elberse is a woman with many feathers in her cap. A native of the Netherlands, Elberse holds two M.A. degrees – one in Communication from the Annenberg School for Communication, University of Southern California, and the other one in Communication Science from the University of Amsterdam (cum laude). She also has a PhD from the London School of Business and is one of the youngest female professors to have been promoted to full professor with tenure status in Harvard Business School’s history.
While all these qualifications are indeed very impressive, it is Elberse’s work in media, entertainment and sports through academia that is winning her plaudits everywhere. Over the years, Elberse has developed and taught the ‘Businesses of Entertainment, Media, and Sports’ elective course for second-year MBA students at Harvard Business School. In 2013, Elberse also developed a four-day executive course on the same, which is attended by some of the most popular athletes, musicians, actors and industry executives such as Maria Sharapova, Channing Tatum, Ciara and Dwayne Wade. Elberse is the author of the book, ‘Blockbusters: Hit-making, Risk-taking, and the Big Business of Entertainment’ and has been featured in the Dutch airline KLM’s inflight magazine, the Holland Herald, as the “Rockstar Professor”. With 125,000+ Instagram followers, Elberse does indeed enjoy a rockstar-level status.
Case Studies
Anita Elberse has authored case studies on some of the leading names in the entertainment, media and sports industries, such as Spotify, Dwayne Johnson, Marvel Comics, Walt Disney Studios, football clubs Real Madrid and Manchester United, Nike and many more. One of her earliest works at HBS came as a case study on Russian tennis player Maria Sharapova in 2007. A then 17-year old Sharapova had just won Wimbledon, and her agent at International Management Group knew that the win would lead to new endorsement and marketing opportunities. The case study delves deeper into issues around marketing and more importantly endorsement opportunities in and around sports in the context of world-class athletes.
Elberse also authored a case study on music superstar Beyoncé around the release of her self-titled album in 2013. The album was unique in the way it was released, exclusively on Apple’s iTunes Store, without any prior promotion. The study explored a number of questions, including how the unveiling of the album through Beyoncé’s Facebook and Instagram would affect the music industry, record labels, and fans alike, how the album would perform on charts without any traditional promotions and many more.
Yet another foray into a sports-related case study for Anita Elberse came in the form of FC Barcelona, the Catalonian football club known for its esoteric style of football, as well as being home to Lionel Messi. Elberse’s research included focusing on FC Barcelona’s famed youth academy La Masia and the club’s investment in it, the club’s business model and their relatively low ticket prices, compared to their counterparts in Spain as well as across Europe.
Full Time Course For Second Year MBA Students
Having been at the Harvard Business School since 2003, Elberse has been responsible for developing and teaching the ‘Businesses of Entertainment, Media, and Sports’ course for second year MBA students. The course is designed for students who want to pursue a career in the entertainment, media and sports sector, focusing on topics such as:
1. How can entertainment businesses best allocate resources across a portfolio of projects and for one project over time? For example, does it pay to pursue a “blockbuster” strategy?
2. How can entertainment businesses best approach the management and marketing of creative talent? In particular, how should companies invest in and capture value from superstars and the teams to which they belong?
3. How are digital technologies changing the entertainment, media, and sports industries? For instance, how are firms affected by – and how can they benefit from – the increased pressure on prices and the larger assortments offered online?
Executive Course
Elberse has also developed an executive program of the same name in 2013, which is taught over four days and costs $10,000 to attend. The course has been attended by A-list athletes, musicians, actors and models, including Dwayne Wade (Basketball), Kaká and Nuri Sahin (football), Karlie Kloss (model), Channing Tatum (actor), Ciara and LL Cool J (musicians). The executive program is essential for individuals looking to learn how to:
1. Allocate resources more strategically
2. Make better investments in talent
3. Respond to advances in digital technology
4. Expand their personal and professional network
The executive program has also seen participating companies such as Live Nation, Nike, NBA, Sony Pictures Entertainment among many others.
Case Study on Sir Alex Ferguson
Establishing her credentials as the thought leader in media, entertainment and sports, Elberse was chosen by Sir Alex Ferguson, the former Manager of English football club Manchester United, when he wanted to share his lessons on leadership as he was heading into retirement. Elberse captured Ferguson’s journey through yet another case study, which captured Ferguson’s managerial career at Manchester United and what it took to manage a club of such stature. Further, after a series of interviews, both Ferguson and Elberse wrote an article together for the Harvard Business Review titled ‘Ferguson’s Formula’ in October 2013, which captured his eight leadership lessons. Ferguson was the guest speaker at the first-ever executive program in 2013, and has since been invited to Harvard Business School several times to answer questions from attending students.
Foray into Esports
Anita Elberse recently announced her foray into Esports with a case study on Ninja, the gaming world’s biggest superstar. Esports is a form of sport competitions through video games, which is usually played by professional players as part of multiplayer games. According to reports, revenues for the global esports industries were set to top $1 billion in 2019, making it an important aspect of the EMS (Entertainment, Media and Sports) industry.
There’s no denying that MBA graduates will continue to lean towards traditional industries such as finance, consulting and technology when it comes to employment opportunities. However, Anita Elberse’s efforts into creating an academic background for business in the entertainment, media and sports industry is a step towards the right direction as the industry looks towards a more strategic and structured approaches to business opportunities in an increasingly dynamic environment.
