Local TV Inverness_02_06_10
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Transcript of Local TV Inverness_02_06_10
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Highlands Local TV Forum
Chris Cook, Inverness
02 June 2010
'Not for Loss' TV – a Partnership Approach
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Introducing Nordic Enterprise Trust (NET)
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Society 1.0 - Decentralised and Disconnected
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Presence in person
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Society 2.0 – Centralised but Connected
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Presence via intermediaries
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Society 3.0 - Decentralised and Connected
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Presence on the network
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Media & Platform Convergence
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Packets of Internet Protocol (IP) Data reach us in two ways
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Broadcast delivery - 'One to Many'
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Web delivery - 'One to One'
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Broadcast/Web Convergence
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But no-one has yet developed the right devices
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...or the right enterprise model
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Let's have a look at Enterprise Models
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Public means State...
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...funded by taxes and public borrowing
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Private means Limited Liability Company
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Funded by Equity - shares with a par
value eg £1.00...
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...or Debt - loans secured by legal claims eg mortgages
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...giving two conflicting claims over the same productive asset
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Scots know it's not a case of 'either/or'
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'Not Proven' verdict is both...or neither
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NET works in this 'quantum' zone of uncertainty
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There’s a new legal animal out there....
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There are now 60,000 UK Limited Liability Partnerships (LLP)...
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...even in the Public Sector, where Glasgow has five municipal LLPs
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An LLP is a corporate body with limited liability....
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...and...errrr...that’s it!...
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As far as the Tax Man is concerned it is a Partnership
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Capital Partnership
Capital PartnershipCapital Partnership
InvestorsInvestors
CustomersCustomers
Managers
CustodianCustodian
% %
£
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Equity Shares - % age shares in revenues or production...
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...or Units - redeemable in production
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Example: “The Art of Flirting” – a film incorporated as an LLP
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The actors received nth’s of the gross revenues...
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...I got 5%...and the producer the rest...
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...except that we needed lights, cameras, pizza, coffee
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Two Capital Partners invested £10k for 20% of revenues
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...if there are any
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Art of Flirting Partnership
Art of Flirting PartnershipArt of Flirting Partnership
Financial Capital(Investors)
Financial Capital(Investors)
ViewersViewers
Human Capital(Actors, Producer, Me)
CustodianCustodian
% %
£
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The Capital Partnership aligns stakeholder interests....
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...but it’s not a magic bullet
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Conventional finance requires binding contracts
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Partnership finance requires consensual agreement
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But there may be no magnetism..
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...or partners may fall out...
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A Capital Partnership is not an Organisation
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...it does not own anything, do anything, employ anyone, or contract with anyone...
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...it is simply a framework within which the stakeholders self organise ...
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Community Media Partnership
Community PartnershipCommunity Partnership
InvestorInvestor
Community'Club'
Community'Club'
Manager
Custodian(CIC?)
Custodian(CIC?)
% %
£
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….is a framework for provision of 'micro' TV and broadband 'not for loss'
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How does it work?
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Community.....joins the Club
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Neither Public - taxes/ licence fee paid for open access....
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...nor Private 'walled garden' – invoices/ subscriptions and closed access
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A Club is Closed because only members have access....
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...but also Open because anyone consenting to club rules may join
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Service Providers – an open consortium
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Provides platform, devices, billing and content....
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...on an agreed revenue sharing basis
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Investors – share revenues of productive assets – Fixed Capital
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Working Capital? - 'Sell it forward' – Units redeemable in payment for use
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Community Media Partnership
Community PartnershipCommunity Partnership
InvestorInvestor
Community'Club'
Community'Club'
Service Provider
Custodian(CIC?)
Custodian(CIC?)
% %
£
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If we link together and network 'micro'...
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...we get 'Macro'
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UK Media Partnership
UK Media Partnership
UK Media Partnership
InvestorInvestor
UsersUsers
Service Provider
CustodianCustodian
% %
£
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...offers a completely inclusive framework for media
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Thank You
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