Two targets talent management business plan

Some of Nigerian artists already have a following in the UK and TTM aims at increasing this fan base thus promoting the artists’ career on a global scale. The target market for the company is 1. 5 million Africans born or nationals residing in the UK (ONS, 2017). TTM expects sales from two main activities; live concerts and recorded music sales. The company can generate sales by selling live concert tickets which can generate hundreds of dollars. Each artist signed to the company will have a space on the website which will help increase public exposure since the public will be able to learn more about the artist. In addition to the use of the website, the company also intends to use social media platforms like twitter, snapchat, Facebook and Instagram to market itself.

Social media networking is becoming one of the most used marketing tools by companies today. When it comes to music, 25-34-year-old are the demographic that stream and purchase music the most and this is the company’s target market (BPI,2017). Additionally, social media network is the correct platform to reach the 25-34 years old demographic because according to the ONS (2017) this demographic is second on the social media network usage; Having 88 percentage of 25-34 years old use social media network whilst 96 percentage of 16-24 years old use social media. The continuous growth in the industry shows the likelihood of a new business to succeed within the industry. Additional UK market is lucrative for Nigerian artists as it offers them an opportunity to grow financially which is not possible in Africa since most African countries remain ‘blighted by piracy’ (Emokpae, 2018).

Furthermore, there is a huge amount of afro-diaspora living in the United Kingdom. According to the ONS (2017) there is an approximately of 1. 5 million African born or nationals residing in the UK. Well established Artists TTM Ltd targets to work with artist who has a large fan base in UK. Clients who have built a solid foundation of supporters and loyalist. Have well established artists saves the company thousands of dollars in cost that would be used in promotion. 0 Organisation workforce The fact that TTM Ltd is set to compete with other leading talent management companies in the UK and the international market means that it must build a business structure that supports its goals and objectives. The organisation will implement a two-step approach to ensuring success of TTM Ltd as it concerns the workforce.

Entertainment Lawyer/ Legal Secretary To help in the achievement of organisational goals the company plans to hire an entertainment lawyer who will work exclusively for TTM instead of Freelancing law services like most talent management company. The lawyer will be responsible for drawing up contracts and other legal documents for the company; offering legal advice to the company and its artiste where necessary; working on financial agreement for investments, loans, sponsorships and grants; preparing clients form agreements such as appearance releases; and reviewing contracts and other legal documents. He is to also provide any other legal services that may be need during the operation of the business. Artiste Manager Since the company is based in London but most of its clients will be from African specifically Nigeria, the company will have two teams of Artiste mangers who will work together to the ensure that the organisational goals are met and that customers are satisfied.

The artist team will be responsible for; negotiating contracts and fees, finding and booking events that fit the artists’ career strategy, keeping up to date with what is happening in the industry, promoting the client’s work, building a strong reputation of quality customer service and performing other duties as assigned by the CEO. Since the company will require a large capital inflow it will be profitable after the two year of operations. TTM will generate most of its revenue from sale of pre-recorded music projects i. e. CDs, enhanced CDs and digital music formats.  Income Statement 2019 2020 2021 Sales 779,930. 00 Admin expense 62,000. 00 general expense 41,000. 00 Depreciation expense 32,500. 00 EAT -10,911. 00 Balance Sheet PRO FORMA BALANCE SHEET       2019 2020 2021 Cash and cash Equivalent 371,589. 00 Retained Earning 10,991. 00 Total Equity 560,991. 00         Reference list Emokpae, M.