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The Entertainment Merchants Association |
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Summary of Proceedings
The VSDA Board of Directors discussed the following agenda topics and took the indicated actions at its April 6, 2005 meeting, held in Los Angeles, California.
Ratification of Minutes The Board unanimously ratified the minutes of its October 27, 2004 meeting. Ratification of New Members Upon a motion duly made and seconded, the Board voted unanimously to accept 403 membership applications received between October 6, 2004 and March 25, 2005. The Board commended the Independent Dealers of Entertainment Association (iDEA) for its successful membership marketing initiative. Financial Report Staff reported on the preliminary financial results for the first two months of 2005, noting that the Association's net income was approximately 25 percent better than budget for the period. The primary drivers of the positive performance were dues income and joint venture income. The Board was cautioned, however, that there are a number of variables that could negatively affect financial performance during the year. Auditors The Board unanimously approved the retention of the certified public accounting firm of Lesley, Thomas, Schwarz & Postma, Inc. of Newport Beach, California to perform the annual audit of the Association. VSDA Scholarship Foundation The Board unanimously approved a resolution authorizing the transfer of the investment account for the VSDA Scholarship Foundation from a firm in Pennsylvania to Union Bank of California. HEE Issues The Board was briefed on the proposed acquisition by Questex of the interest of Advanstar Communications Inc. in Home Entertainment Events. The planned features of Home Entertainment 2005 were discussed with the Board, and the Board was informed that it appears that the show will continue to experience growth. The number of exhibitors taking meeting rooms or booth space is up 25% from the same time last year, and sponsorship sales have increased 10%. The major studios that were at last year's show have again made substantial commitments to this year's event. It was noted that the response to the Bellagio location has been very positive and the additional genre emphasis, including a licensed and KidVid product pavilion and a digital technology demonstration, are being well received. It was reported that the 2005 AVN Adult Entertainment Expo performed significantly better than budget, and that more than 28,000 persons registered for the show. The event experienced a 28 percent increase in trade attendance over 2004 and a one percent increase in fan attendance, despite having one fewer fan day. Exhibit sales for the 2006 AVN Adult Entertainment Expo were described as proceeding extremely well. Independent Dealers of Entertainment Association The Board was briefed on the status of initiatives of the Independent Dealers of Entertainment Association (iDEA). Membership The Board was provided with a report on current Association membership, which showed an increase in independent retail members. Staff also reported on current membership outreach efforts to attract more non-video specialists, grocers and international members to the Association. A plan to more aggressively solicit grocery chains was approved by the Board, as was a new dues structure for international members. Appointment of Directors
The Board voted to appoint Blockbuster Inc., Family Video, Hollywood Video, Rogers Video, Tower Records & Video, and Ventura Distributing to the Board of Directors, for terms of three years apiece. The appointments will commence at the 2005 organizational meeting of the Board in July. High Definition DVD The Board discussed high definition DVD and baseline criteria needed for a high definition DVD format to gain acceptance and widespread support among the broadest spectrum of market participants, especially consumers. Legal Affairs The Board was briefed on the U.S. Supreme Court's consideration of the MGM Studios v. Grokster case regarding illegal peer-to-peer file swapping of copyrighted motion pictures and VSDA's "friend of the court" brief in the case. The Board was also informed of pending legislation that could require VSDA to become involved in additional advocacy litigation. Parental Empowerment Programs The Board, by a unanimous vote, approved an amendment to the Associatiom's Movie and Video Games Ratings Education, Enforcement, and Advertising Guidelines that would request that each member company designate an individual as a Ratings Compliance Officer. Extension of President’s Contract The Board awarded President Bo Andersen a three-year extension on his contract, effective April 1, 2005. Other Issues The Board received written reports on the Association's anti-piracy, government affairs, and public relations activities, strategic alliances, VSDA Canada, and the VSDA/NARM Joint Operations Committee. |
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