What business can learn from the film industry

Mike Carden’s The Joyous Podcast features conversations with some of the world’s leading management thinkers.

This episode features Vince Pizzica, who discusses his experiences transforming businesses within the media and entertainment industry. 

Here’s a ChatGPT precis, or listen here.

Pizzica shares insights from his career, including his time at Technicolor during the global financial crisis. He recounts the challenges of navigating the company through significant industry shifts, such as the decline of film processing and the rise of digital visual effects.

He then covers evaluating and downsizing 16 businesses, highlighting the importance of finding new talent, business models, and strategic planning in transforming a company’s trajectory. He identifies a struggling visual effects business (MPC) and discusses how to turn it around by bringing in new leadership and exploring outsourcing opportunities.

The conversation then turns to AI’s potential in the creative industry. Pizzica says that while AI can simplify and accelerate production processes, it won’t replace the human element in creativity. Instead, AI will help in various aspects, such as scriptwriting and generating ideas, enhancing productivity rather than eliminating jobs.