How to invest in showbiz...

 How to invest in showbiz...

Choices among entertainment-only funds are limited
By JOSEPH LISANTI

People who want to invest in the market but don't want to choose individual stocks often turn to funds. There are thousands of portfolios and lots of options to pick from, but for those who want just entertainment and media stocks, choices are limited

.
Two relatively pure showbiz funds are Fidelity Select Multimedia (FBMPX), an actively managed traditional open-end mutual fund holding about 60 stocks, and PowerShares Dynamic Media Portfolio (PBS), an exchange-traded fund (ETF) based on an index of 30 media companies. Investors can buy FBMPX for a minimum of $2,500. There's no sales charge, and the expense ratio, or annual operating fee, is 0.90%. In the year ended June 30, the Fidelity fund has outperformed the PowerShares portfolio by a difference of about 8.6 percentage points.

As an ETF, PBS trades like a stock throughout the day, and investors can buy a single share (recently $15.62), though they may have to pay brokerage commissions. The expense ratio is 0.63%.

Several funds have the word "leisure" in their names but have a broad definition of leisure. One such fund holds Home Depot shares as its second-largest position. Maybe its managers think putting up drywall is entertaining.

Thank you Variety

More info:www.variety.com

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PBS to Add Commercials During Shows...

Public broadcast execs explain the decision by pointing to the steep drop-off in ratings when traditional messages were aired between shows.
PBS is breaking from its long-term model and adding commercials to shows, PBS officials told member stations at a recent conference in Orlando.
Instead of airing breaks every 50 minutes, as the public broadcaster does now, it will air them every 15 minutes beginning this fall, according to the New York Times. Nature and Nova are two of the shows that will contain corporate and foundation sponsor ads, promotional messages and branding every 15 minutes.
Feelings about the move are mixed.
"One of the biggest things they have to sell is that they are noncommercial," David D. Oxenford, a partner with the law firm Davis Wright Tremaine, which represents several public broadcasters, told the Times.
Said Alberto Ibargüen, a former PBS board chairman and president and chief executive of the Knight Foundation, "My first reaction is that in any kind of marketing opportunity, if you give up something that is desirable and differentiates you from your competition, it's too bad, and that's what this is."
But he said the public broadcaster did not make this move in haste. "The people of PBS would not do this lightly."
John F. Wilson, the chief programming executive for PBS, pointed to the steep drop off of audience members once the promotional spots aired at the end of the shows: "It's almost as if someone pulled the fire alarm and they scrambled for the exits."
(PBS did not provide specific ratings figures.)
"I'd look really carefully at a Masterpiece drama, at how we'd do that or how often we'd do that," he added.
Now producers will have to restructure their shows to contain breaks.
"It's not like this is untested, uncharted territory in some respect," said Wilson.
Antiques Roadshow will begin airing sponsor messages in January "between looking at Grandma's sofa and the 1850s flintlock someone had in their basement," Oxenford told the Times.

Thank you Hollywood Reporter

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