Intern - Universal Destinations & Experiences - Live and Location Based Entertainment

Job Description

Responsibilities

Each day Universal Studios Hollywood creates unforgettable experiences for our guests from around the world. We bring to life the ultimate Hollywood experience with our real working movie studio and heart-pounding rides, shows and attractions that put you inside some of the world's most popular movies and TV shows. USH offers something for everyone from thrill seekers to movie lovers to family fun for all ages. Our Team Members are passionate individuals who create memorable moments whether it's on the studio lot, or in our conference rooms, theaters, or kitchens. We believe in the talent of our team members. It's our passion and commitment to excellence that drives our business to succeed in everything we do across the park. We believe in a culture of family and fun, here you can make a difference and build your career!

NBCUniversal owns and operates over 20 different businesses across 30 countries including a valuable portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks and a premium ad-supported streaming service.

Here you can be your authentic self. As a company uniquely positioned to educate, entertain and empower through our platforms, Comcast NBCUniversal stands for including everyone. We strive to foster a diverse and inclusive culture where our employees feel supported, embraced and heard. We believe that our workforce should represent the communities we live in, so that together, we can continue to create and deliver content that reflects the current and ever-changing face of the world.

Job Description

Universal Live and Location Based Entertainment globally drives expansion of the company's intellectual properties, franchises, characters and stories through innovative live consumer experiences based on the extensive portfolio of intellectual properties created by Universal Pictures, Illumination Entertainment, DreamWorks Animation, Focus Films, Amblin Partners and NBCUniversal's television groups. Universal Live and Location Based Entertainment is a business division of Universal Destinations & Experiences.

The Summer 2024 Intern will participate in the Universal Studios Hollywood Summer Intern Program and will be responsible for a project in which the intern will analyze the various pricing models used in the licensing transactions of the Live and Location Based Entertainment group, and whether there are other pricing models that should be used in particular cases. The Intern will try to obtain as much information as possible about pricing models currently being used in the market, both from conversations with colleagues at other studios and other licensors as well as with representatives at our licensee companies. Through the intern's research, the intern will try to obtain as complete and detailed responses to the following questions as possible:
• How much of a higher royalty rate could realistically be received in transactions that do not have a minimum guarantee?
• Should we explore tiered royalty rate structures where the first revenues bear royalties at a lower than market rate, in return for which royalties above a breakpoint bear royalties at a significantly higher than market rate? How high could such royalties get and what should be the breakpoints?
• Should we explore flat-fee license deals, where we do not receive any percentage royalties, or maybe receive percentage royalties only for merchandise and food/beverage?  Can we ever receive a minimum guarantee in addition to royalties, instead of always providing that royalties are recoupable against a minimum guarantee?
• Should we charge different royalty rates for different categories – i.e., one royalty rate for admission revenues, another for merchandise revenues, still another for food/beverage revenues, and yet another for sponsorship revenues?
• Should we think about deals where the royalty rates change over time (i.e., maybe the royalty rate is slightly lower than market for the first year or two but then goes to a rate that is slightly higher than market)?
• Should we adjust any of our minimum guarantees over time by CPI or another recognized inflation/deflation index?
• While we unfortunately do not have the ability to invest capital in our licensees' deals, should we think about doing deals where we in essence forego certain license fees until the licensee recoups its capital investment, but then receive a royalty rate that is significantly higher than market (perhaps a return closer to what we'd receive if we had invested)?

The 2024 Summer Intern will report to the Vice President, Touring Worldwide Live Entertainment, Universal Destinations & Experiences.

Job Responsibilities:
• Review the pricing models that have been used in the existing license transactions of the UDX Live and Location Based Entertainment group
• Make phone calls as necessary with key personnel at other studios and other licensors on a no-names basis to obtain as much information as possible regarding their pricing models, including whether they have ever explored alternative pricing models (and if so, the results obtained) and whether they would be willing to explore any other pricing models
• Make phone calls as necessary with key personnel at our licensee companies on a no-names basis to explore whether they have entered into alternative pricing model transactions with other licensors (and if so, the results obtained) and whether they would be interested in exploring any alternative pricing models
• Discuss alternative pricing models with UDX Finance and Business Strategy personnel to determine how they would affect the annual budgeting and forecasting processes, whether they would result in more or less work for such personnel, and whether they would necessitate more or less audits of our licensees
• Attempt to obtain information about usage of alternative pricing models in other types of licensing transactions outside the live and location based entertainment field, and perhaps outside of the entertainment industry altogether
• Provide input and participate in staff meetings to discuss project work to date and to obtain any suggestions for research strategies that can be undertaken
• Develop best practices in organization and research trackers to ensure that the project proceeds on schedule and that effective communication is maintained between all parties
• Assist in development of pricing model strategies for live and location-based entertainment transactions in conjunction with the Vice President, Touring Worldwide Live Entertainment, and the Vice President, Worldwide Location-Based Entertainment

Pay Range: $18-$25/hour

Qualifications

Qualifications / Requirements:
• Bachelor's Degree (degree in Business Administration, Finance or equivalent preferred)
• Proactive, self-starter with the ability to work independently in a fast-paced environment with the ability to multi-task
• Advanced quantitative analysis skills including ability to identify desired data for a given analysis, conduct complex analyses, and extract key insights
• Demonstrated strategic and structured thinking
• Strong ability to set priorities, multi-task, solve problems, maintain composure and tact and deliver on multiple projects under pressure
• Ability to be flexible and adapt to each project and licensee

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Jobcode: Reference SBJ-g3qv35-18-118-122-239-42 in your application.