“The dynamics of the entertainment and media space have created a prime opportunity for companies that can provide a high level of specialized, shared services,” said Rich.
New York (PRWEB) September 28, 2011
RoyaltyShare, Inc. today announced the appointment of Marcus Holloway, 48, as the company’s President and COO. Holloway is a proven leader in building and managing enterprise services businesses and will spearhead RoyaltyShare’s expansion in this market. The company also announced the appointment of Jeff Rich, 51, to its Board of Directors. Rich is the former CEO of business process outsourcing (BPO) firm ACS.
The announcement was made in conjunction with RoyaltyShare’s unveiling of a new Enterprise Services division aimed at providing large entertainment and media companies comprehensive services to support their changing business models and to substantially reduce their operating costs.
“The shift to digital in the production and delivery of recorded entertainment has prompted entertainment and media companies to reassess their traditional business processes and systems solutions in favor of an industry-wide, shared-services approach to reducing costs,” said Bob Kohn, Chairman and CEO of RoyaltyShare. “Marcus brings substantial expertise and leadership skills that will allow RoyaltyShare to grow its enterprise service business and establish the company as the worldwide leader in royalty processing and other specialized services and solutions in music, books, film and television.”
Holloway brings more than 20 years of experience in large enterprise services companies. Previously he was a founder in the PriceWaterhouseCoopers Business Process Outsource division, which grew from start-up to over $200 million before it was sold to IBM Global Services. Holloway’s career also includes six years as Managing Director of the Finance and Accounting division of ACS, a Fortune 500 Company and leading provider of business process outsourcing and information technology services. Under his leadership the division expanded from $30 million in revenues to more than $150 million in just five years and emerged as the fastest growing business within ACS. Holloway also led the BPO business for Sutherland Global, the world’s largest private BPO firm.
Jeff Rich joins RoyaltyShare’s board of directors in conjunction with the recent investment in RoyaltyShare by PlumTree Partners, LLC, a private investment firm headed by Rich. Rich, who worked with Holloway at ACS, brings years of experience and substantial expertise in business process re-engineering services.
Prior to forming PlumTree, Rich served as Chief Executive Officer of ACS from 1999 to 2005. Under his direction ACS grew from $300 million in annual revenues to over $5.3 billion. Rich joined ACS in 1989 as Chief Financial Officer and was instrumental in the company's public offering in 1994. In 1995, he was named President and Chief Operating Officer, and implemented a strategic shift away from bank processing to business process outsourcing. Prior to ACS, Rich was a Vice President in the Leverage Capital Group of Citibank New York. Mr. Rich currently serves on the Board of DG Fast Channel, Inc, Telligent, Inc and is an executive board member of the Dallas Symphony Orchestra. Mr. Rich received a B.B.A. from the University of Michigan Business School in 1982.
“The dynamics of the entertainment and media space have created a prime opportunity for companies that can provide a high level of specialized, shared services,” said Rich. “The combination of RoyaltyShare’s existing domain expertise and technology with solid enterprise services management place the company in a unique position to meet these needs.”
In addition to Kohn, Holloway and Rich, RoyaltyShare’s board includes Don Dixon, Managing Director of Trident Capital and a former Director of ACS, and Keith Titan, Principal at Bertelsmann Digital Media Investments (BDMI).
RoyaltyShare, Inc. provides key technology and services to entertainment companies worldwide, helping them deploy state-of-the-art technology and transform key business processes to address the radical shift from physical to digital distribution. Having a management team with over 30 years of experience in technology development and providing specialized services for the entertainment industry, RoyaltyShare works with some of the world’s largest entertainment conglomerates.
RoyaltyShare offers a combination of Enterprise Services and Technology Solutions aimed at significantly reducing costs through process improvement, automation, scalability, optimization, and validation, and specializes in providing technology and services to firms in the record industry, book publishing, music publishing, film and television, among other entertainment and media segments. RoyaltyShare is headquartered in San Diego, with operations in New York, New Jersey, Pennsylvania, and London.
More information on the company can be found at http://www.royaltyshare.com.