Jersey duo to build a Madison Avenue bridge to sports business success

BY JOE FAVORITO

NEWJERSEYNEWSROOM.COM

ON N.J. SPORTS MARKETING

There are many wannabes in the sports and entertainment marketing world who leave established businesses and venture out on their own in search of the great client and the gold that comes with him, her or it. Often times, the grass that looked greener is fraught with lots of pratfalls. Being a representative of a major agency like a CAA or an IMG or an Octagon or working at an established property like Madison Square Garden or the NFL has instant recognition and respect in an elevator pitch. Being so and so from XYZ Sports may not have that same cache, or the budget, of a larger company. Like Tom Cruise in the movie “Jerry Maguire,” sometimes those who go out on their own, either forcibly or by choice, can find the going tough, and at the end of the day may be left standing with nothing more than a reputation and a rolodex.

However as long as that reputation is strong and the rolodex matches, the build up to a standalone business can work. Take a look at one such start up, Madison Avenue Sports and Entertainment, launched by Jersey natives Ed Horne and (still Oakland resident) Ken Rosen as well as uber entertainment lawyer Joseph Tacopina.

The company set out to carve a very specific niche in three disciplines—talent representation, marketing and media—all tailored around the extensive careers the Horne and Rosen have built at properties like the NHL, where Horne was responsible from every aspects of business, from Sponsorship and Marketing to Licensing and Fan Development, and television, where Rosen developed and produced hundreds of shows for networks that marketed and extended the brands of major sports leagues and their sponsorship partners. That expertise was balanced by Tacopina’s love for hockey and his work representing the interests of personalities like Foxxy Brown and “Sopranos” actor Lillo Brancato.

As a group, MadAve presents a series of core competencies that is different from a large agency and can be tailored to address the needs of a property or an entertainer who is looking for quality custom support without being part of a thousand clients. It is quality first, quantity second in an era where customer service and attention to detail are a lost art.

However even with all that experience, the road to growth and profitability can still be a tough one. With such competition in the marketplace for properties and events these days, what is the biggest advantage one group with a core competency could have over another? “Certainly experience is paramount because it equals contacts,” said Rosen, now Executive Producer/Head of Programming, MadAve. “ It truly is what separates one group from another. You can have the most creative ideas in the world, but if you can’t open doors for your clients you won’t generate the business needed to retain them.”

Those relationships have led the relatively new company to already score some solid hits, helping represent Italian soccer power AS Roma in their potential search for new investors, buyers and business planning and representing a host of rising hockey stars in their business and professional growth, including rising Montreal Canadian David Dasharnis and a group of other much younger players now getting ready to make the step to the NHL.

“We are seeing some nice growth opportunities,” added Horne, the firm’s COO. “For a company like ours that offers a point of differentiation we have seen that brands are looking to connect themselves a lot more and media content is increasing across every platform at a very fast rate.” As for the future, Horne believes the business areas MadAve have targeted are the growth business areas not just for sport, but for entertainment as well. “Content development, sponsorship and deal making,” he added. “The growth of new networks and expansion of content distribution platforms are resulting in an increased appetite for development deals. Sponsorship dollars are beginning to flow again. To be able to identify the right partner for a client is important. Finally, the industry has seen an uptick in assets trading hands. Here, the ability to advise on the overall transaction, connect a client with the right financial lender and development of a comprehensive long-term business plan become a great asset.”

And as far as their native New Jersey, home of the Super Bowl in 2014? What does the future hold there? “I think it is a once-in-a-lifetime opportunity,” said Horne, referring to the world’s largest sports spectacular coming to the New Meadowlands Stadium. “This will be the biggest event on the biggest stage and there will be many places and ways to activate. Conversely, I will say that one will have to work extremely hard and develop a very creative program in order to stand out from what I expect to be a record number of sponsorship activations around the event. If done correctly though, it can be a catalyst for significant growth.”

It is that type of significant growth that a company like MadAve will need to flourish and expand, not just in The Tri-State area, but around the world. With an Olympic year on the horizon, followed by the world’s largest events, the Olympics and World Cup, heading to two BRIC countries for the first time, the potential for exploiting both the rolodex and the best practice models for seasoned professionals holds great potential. Risky, yes. Profitable, challenging and exciting, certainly.

However in a challenged economy lean and mean can rule the day, and having the maturity and experience of industry veterans can lead any host of brands or athletes looking for a personal touch to new areas of professional success. It comes down to proper timing, engagement and positioning, all of which, if carried out correctly, can help bring MadAve the sports and entertainment success that these seasoned pros have built before for others. Only this time, the success will be both personal and professional in a venture built from the ground up.

Joe Favorito has over 24 years of strategic communications/marketing, business development and public relations expertise in sports, entertainment, brand building, media training, television, athletic administration and business. Visit him at JoeFavorito.com.