Corey Bancks
Marketing and Sales Manager, MDM Entertainment

Written by Suzanne Hill on 2009-10-09

Corey Bancks is an audiovisual distribution manager based in Brisbane. In this role he works closely with key music and film industry stakeholders including major and independent record/film labels and government agencies to distribute CDs and DVDs in a business-to-business capacity across Queensland and New South Wales.

Why did you decide to pursue a career in the media and communications industry?

I have a personal interest in the music and film industries and believe that a job that involves something I love is better for me, my employer and the customers. When you care about the job you are doing you will always put the extra effort in and you will get the best results. I need a job that I can feel passionate about so I can stay motivated.

What are the most important/valuable skills that graduates can bring to your industry?

A fresh approach and new ideas. A modern education that has dealt with the current changes of an industry. A new outlook on things compared to someone that has been close to the subject for some time.

In your opinion, what is the most prominent trend in the audiovisual industry at the moment?

Over the past 10 years the music and film industries have been affected by new technologies probably more than any other industry, and companies have had to take a new approach to marketing and sales strategies. Not that this is completely new, the same sort of thing happened when the analogue physical world became digital with CD and DVD. The two main trends I am seeing right now are, firstly, the idea of added bonuses when you buy digital media through legal distributors like iTunes (like bonus tracks, videos and merchandise); and secondly, big price drops (CDs have gone from $30 to $10, DVDs have dropped from $40 to $20). With the price of digital media, companies are now running a ‘sell-more-for-less’ business.

What do you think about the relationship between traditional media and new media?

As a consumer of media, I believe that the two forms of media work together to create a complete service. I still read a magazine and newspaper and I still look at the internet and TV. Both have their advantages. The internet has made things so much more up to date and accessible in my industry, but I also don’t think new media will ever totally replace traditional media.

What changes do you see happening over the next five years in the audiovisual industry?

I can see the digital industry growing and becoming more controlled; the big distribution companies are starting to take serious action against illegal P2P file sharing. I think the CD and DVD industry has seen its worst. If the prices stay reasonable and the quality of the product is still high, I think it will survive. There are also new products which will definitely grow in the near future, such as Blu-ray and more super quality, high definition media.

How has the distribution of audiovisual products been impacted by the internet?

The major thing I find is that you do not have a personal relationship with your customer when you are dealing with a web business. People do not have that loyalty or understanding of the process of purchasing something physically. It is much easier to price compare on the web and I believe that the best price will always win.

As a distributor, what do you see as your role in the audiovisual industry in terms of linking products and audiences?

Distribution relies on price, quality service and proven performance. Usually you can’t have all three! I travel around a lot and see all of my customers to maintain a personal relationship and provide a personalised service. The other aspect of distribution is being a bit of a middle man; you have to be involved in the music and film industries and always know what is going on and what is coming up so you can provide a knowledgeable and valuable service and put the right audiences in touch with the right products.