DNS Associates Pacific House, 382 Kenton Road Harrow, Middlesex, HA3 8DP 02035002646 info@dnsaccountingservices.co.uk

Media & Entertainment Accounting
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Media & Entertainment Accounting Services

All the world’s a stage: Accounts production and compliance

Specialist accountants in the media and entertainments industry are like good directors: they let actors act, while holding on to their vision of the desired outcome.

According to PR Newswire at the end of 2015, the global media and entertainments industry has been experiencing a digital revolution for several years, with a marked shift in 2013 to digital formats across the industry. Improvement in the world economic climate helped the recovery of non-digital spending in the industry as well.

The same source pinpointed mergers and acquisitions as another trend in the global media and entertainments industry and suggests that the integration of the industry has led to the globalization of media conglomerates. Between 2014 and 2019, among the trends listed for the greatest predicted growth in the industry, two are mergers and acquisitions, and the emergence and popularity of digital media and many other newer technologies. The growth of media and entertainment in emerging markets, including in the BRIC countries, is at an all-time high as well. Advertising is another key industry: global advertising is set to grow, and businesses working with new technologies, which are able to implement smart advertising, for example, can prosper in this market, but only provided that they are prepared.

There was a report online in April 2016, that earlier in the month, Comcast had been in talks with DreamWorks Animation about a possible deal to bring the studio under the same roof as Universal. Not so many years ago, DreamWorks was a small start-up, so while we are talking the big players now, just remember that from small acorns grow mighty oaks. As an innovative small business aiming for the top of the tree in the creative, media, and entertainments industry, would you know how to prepare for a negotiation such as a merger? More specifically, would you know how to collate all the figures to make such a negotiation a possibility in the first place?

Another question, in the same vein would be, supposing you run a technology company related to the media and entertainments industry, would you know how to apply for, and win, Seed Investment (SEIS) for your company? Too many businesses in the technology and creative industries fail to take advantage of investment sources available to them. They do not take advantage of the many opportunities the UK government has put in place for investment to provide innovative small business improved liquidity, which includes some generous tax breaks you should not ignore, in order to enhance your business’s reputation, and drive up profits.

An expert accountant with specialism in the media and entertainments industry is essential to exploit the many opportunities available to businesses, as well as to avoid the many pitfalls. A specialist accountant with impeccable expert credentials and knowledge of media and entertainments is advisable.

The individuals and companies DNS serves include film and TV directors, producers, agents, writers, copywriters, and publishers, designers of stage and costume, composers and musicians, actors and performers, as well as animators. We work with film production companies, technicians, and technology experts, as well as transport and logistics firms.

The media and entertainments industry, like any sector, has challenges and opportunities specific to it. DNS provides an expert, comprehensive, and affordable accountancy solution that comes with guarantees of quality, and a no-fines-or-penalties promise for late filing or payment promise. Alongside DNS’s compliance, tax and business advisory services, there are a range of other benefits: free cloud-based bookkeeping and accounting software, Nomisma, a named account manager, Saturday opening, free tax investigation cover, free access to the world’s most powerful business growth software, and no limit put on the number of times you call us for advice or guidance.

Apart from the comprehensive compliance services DNS provides as part of its small businesses and contractors services, we also work with businesses to produce accounts, reports, and business plans to gain SEIS funding or any other investment funding. We can provide Auditing and Due Diligence Services, as well as handle acquisitions and mergers, corporate structuring of co-productions, and provide advice on structuring and establishing film funds. You will find that having a specialist accountant, one that has insight into the industry, is like working with a good director: DNS will allow you to walk the boards of business while we hold on to the overall vision of your business’s sustainable financial growth, prosperity, and security.