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The Entertainment Merchants Association |
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Summary of Proceedings VSDA Board of Directors Meetings July 25, 2005 -Las Vegas, Nevada
The VSDA Board of Directors discussed the following agenda topics and took the indicated actions at its July 25, 2005 meeting, held in Las Vegas, Nevada. I. Ratification of Minutes The Board unanimously ratified the minutes from its April 6, 2005 meeting. II. Ratification of New Members Upon a motion duly made and seconded, the Board voted unanimously to accept 90 membership applications received between March 26 and July 13, 2005. III. Financial Report The Board reviewed the Association's audited financial statements for the year ending December 31, 2004. The audited year-end financial statements showed revenues of $2,751,932, expenses of $2,282,146, and net income of $469,786 on an accrual basis. The performance was $124,227 better than the budgeted net income of $345,559. It was noted that the auditors expressed an unqualified opinion on the financial statements, they found the financial statements to be in accord with Generally Accepted Accounting Principles, and there were no advisory comments, internal control matters noted, or material weaknesses identified. Staff reported on the preliminary financial results for the first half of 2005, during which the Association's net income was better than budget. IV. HEE Issues The Board was briefed on the exhibitors, sponsored events, and program elements of VSDA's Home Entertainment 2005. It was noted that the goal of expanding the show to additional market segments was being successfully advanced, as in addition to all the major motion picture studios, the exhibitors would include music labels, international vendors, DVD kiosk suppliers, and a significant number of adult product suppliers. The Board was informed that there would be 233 exhibitors at the show, an increase of 27% over the number in 2004, and that 29% of the exhibitors would be new exhibitors. It was reported that pre-registration for the show was above the level of 2004 and that the show was forecast to exceed its budget goals. It was announced that the 2006 AVN Adult Entertainment Expo would held at the SandsExpo Center, January 5-8, and that the “trade-only” hours would be expanded. Exhibit sales for the expo were reported to be strong. V. VSDA Canada The Board was informed that the Association had renewed for three years its agreement with the Retail Council of Canada for the management of VSDA Canada. Diane Brisebois of the Retail Council of Canada reported on the status of VSDA Canada. She apprised the Board of VSDA Canada's program to implement the "Commitment to Parents" video game ratings education and enforcement program in video game retail establishments. She also described the recruitment efforts of VSDA Canada and the benefits program developed for its members. VI. Independent Dealers of Entertainment Association Terri Schumacher, the Immediate Past Chair of the Independent Dealers of Entertainment Association (iDEA), briefed the Board on the achievements of iDEA in its first year, stating that iDEA was outperforming all expectations. She noted that membership had increased by nearly 70%, primarily due to cooperative marketing efforts with VPD and Ingram Entertainment, several new products and services had been successfully marketed, the number and quality of education and networking events had grown, and the iDEA website had been rebranded. She stated that the challenge for iDEA in the coming year would be to retain the new members it had recruited. VII. Video Game Legislation and Litigation The Board reviewed the Association's responses to the announcement that Grand Theft Auto: San Andreas contained content that was not disclosed in the rating process and to major anti-video game legislation in various states and the Congress. The Board was apprised of the status of the Association's lawsuit against the state of Illinois regarding anti-video game legislation that was enacted in that state. VIII. Video Piracy The Board discussedthe Association's efforts to educate the public about the impact of video piracy through a new public service announcement created by an art school student and print ads. The Board was also apprised of state and federal legislation to address infringement of copyrighted motion pictures. IX. Strategic Planning As part of its update of the Association's strategic plan, the Board reviewed the work of the Strategic Planning Committee on revising the Association's mission and vision statements and organizational goals and made recommendations for changes. X. Organizational Meeting of the 2005-2006 Board At the organizational meeting of the 2005-2006 Board of Directors, Matt Yeatts (Amazon.com), Keith Hoogland (Family Video), Cindy Holland (Netflix), Chuck van der Lee (Rogers Video), Kevin Cassidy (Tower Records), and Eric Doctorow (Ventura Entertainment) were welcomed as new Directors. The following were elected as officers of VSDA for 2005-2006: Bob Geistman, Chairman of the Board XI. Other Issues The Board received reports on the Association's government affairs activities and the Association's membership recruitment and retention initiatives. The Board thanked outgoing Directors David Batten and Terri Schumacher for their service and presented a token of appreciation to each. |
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