
Maddox M. 2025 | BASIS Independent Brooklyn
- Project Title: A Study of Start-ups: How to Thrive in the Entertainment Industry
- BASIS Independent Advisor: Mark Sperrazza
In September 2023, a chance encounter with a pair of turntables evolved into my first foray into the entertainment space: the Arrow DJ Group. Over the next year, through immense trial and error, I learned the intricacies of finding performance gigs and building a client base. However, I struggled to execute a profitable promotional event. This study will explore the metrics and management strategies vital to the success of entertainment startups. Investigating the key aspects of an entertainment startup, namely promotional strategies and pricing structures, will help determine where new firms should invest their time and capital to optimize start-up success. For this project, I will be working with Synchro Events, an event promotion company based in NYC. This internship will provide the unique opportunity to gain data on successful promotional strategies from professionals who promote various events throughout New York City.. Through this study, I will also investigate existing academic literature on different types of promotional strategies. I will also gain insight from speaking with working professionals in this industry through my placement at Synchro Events. I expect to find that appropriately leveraging social media and dynamic pricing will contribute to the success of multiple events. This research will allow me to better understand the forces that contribute to a successful entertainment venture so that I may emulate those findings in my businesses. For the industry at large, a deep analysis of the factors that increase growth in start-up ventures could lower barriers to entry by increasing the accessibility of the entertainment industry.