Stock Guru spoke with the CEO of WGL Entertainment Holdings, Inc., Mike Pagnano, about the reality of selling a reality television show that is in the can. He is negotiating the sale without blinders. He’s been in the business for twenty years though this is his first shot at producing.
Mike Pagnano explains the business of selling a television show. “Now that we have The WGL Million Dollar Shootout Reality Series in the can it’s time to sell it. As you might imagine this is the most difficult sale in what we hope will be a series of sales. An ideal scenario is that the first season will attract 12 million viewers. There are 34 million golfers in the United States plus family members. This is what we need to do a commercial network deal.”
“What we need to survive is two to three million viewers. We are currently negotiating the sale now for both the United States and foreign markets. We expect it to be aired in foreign markets first, which is not that uncommon. Actually, American Idol ran in Britain for two years before it was picked up by Fox in the United States. We see this running for three seasons and we see it going into syndication. This is a perfect show to precede televised gold tournaments.”
“The fantastic news is that the show is finished. The contract we have in place with our golfer-winner (and the winner’s identity� is a secret) is that the winner is paid when the show sells. This gives us the opportunity to have our revenue in place before the prize is paid out. This also sets us up for our next season.”
“The bottom line is that we have seven one hour episodes. One hour of television time creates 28 commercial slot for 14 minutes of commercial time. Slots cost two cents per� viewer. So if you have a three million viewers at a cost of two cents per viewer the cost is $60,000.00 for thirty second spot or $1,680,000.00 per show or $11,760,000.00 for the season.”
“With this small number of viewers we will survive and our next season viewership will grow. Also during a second season we will have product endorsments to contribute to the cost of the show. Our estimates far exceed three million U.S. viewers and our foreign viewership will help as well.”
“This first season does several things for us. It establishes our franchise. It lays the groundwork for next season and it provides a basis from which to attract endorsements — all sources of revenue. The figures add up and I believe we have a foundation for a good company which produces quality programming.”
“We expect The Million Dollar Shootout to air in January or February of 2007, in the United States and sooner abroad. We are already laying the groundwork for the second series: ‘Hot Day’s & Hot Nights,’ which is directed to the 18 to 35 year old crowd.”
Stay tuned: as Stock Guru and Mike Pagnano look at the demographics and the reality of reality T.V.
WGL Entertainment Holdings, Inc. — WGLE
963 Helmsley Court
Unit 107
Lake Mary, FL 32746
Website: http://www.worldgolfleague.com
Phone: 407-328-8538
Forward-Looking Statements: With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences; therefore, such projected events and anticipated results are not warranties or guarantees that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see the Company’s web site(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR database system.
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