Business Irish

Friday 22 August 2014

Grant Thornton's new media venture

Published 08/05/2014 | 02:30

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Charlie Murphy in 'Ripper Street'
John Teeling

YOU KNOW an industry's really taking off when auditing firms start creating dedicated sectoral units. It's good news for the film industry then, after accounting giant Grant Thornton unveiled a brand new media practice.

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It will be led by new partner John Gleeson who joins from Crowe Horwath. Gleeson's professional experience includes raising funds for productions like the BBC's 'Ripper Street', two series of 'Vikings', 'The Guard' and numerous Disney animation series for Boulder Media and Brown Bag Films.

Thornton highlighted the success of the Section 481 tax incentive, which provides a financial boost for investors in Irish-produced films. "I have been involved in over 60pc of the Section 481 financings in recent years and hope to develop this market-leading practice within Grant Thornton. However, the team will go beyond specialist tax advice and provide a wide range of corporate finance and advisory services to the media and entertainment industry in Ireland," said Mr Gleeson.

But not everything's rosy for this industry. A change to the incentive introduced in the last Budget, which incentivises producers rather than investors in an effort to improve the gains for taxpayers, has stalled pending EU approval, with no end date in sight.

DIGITAL MARKETING INSTITUTE EXPANDS

THE DIGITAL Marketing Institute is expanding its presence in the UK with two new university partnerships valued at €1.5m.

The University of Westminster and GSM London (Greenwich School of Management) will now provide the Digital Marketing Institute's digital education programmes to an additional 800 students over the next three years.

To facilitate its UK expansion the company has taken on three new people, bringing the total number of London-based employees to five.

The Dublin-based Digital Marketing Institute currently licenses its training in 32 countries, making it the largest single certification standard in digital marketing.

"There is a growing European digital skills gap as the supply of digital industry-ready graduates is not keeping up with the growth in job creation," said co-founder Ian Dodson.

FOOD FIRMS VIE FOR MAJOR GONGS

THE YEAR'S standout marketing campaigns will be recognised at the All Ireland Marketing Awards, which take place in Dublin today. A total of 90 campaigns from Ireland's most successful domestic and International brands will compete across 18 categories.

The New Product/New Market category is dominated by food companies, with Kerry Foods, McDonalds, Valeo Foods and Musgraves shortlisted alongside UPC. Houseware Ireland, the Irish Dairy Board, Openet, Riverdream Productions and Tourism Ireland are competing for the International Marketing Award.

Whiskey and mining entrepreneur John Teeling, left, will also be recognised, taking home the All Ireland Marketing Champion prize. Mr Teeling's highest profile venture, Cooley Whiskey, was sold to Jim Beam for €68m, and he is currently building a number of new distilleries.

His Teeling Whiskey brand is particularly known for its savvy marketing.

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