Forum - View topicNEWS: Navarre Second Quarter Conference Call
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Malintex Terek
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Congratulations, FUNimation! Good news is always pleasing to hear.
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daxomni
 Posts: 2650 Location: Somewhere else. |
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Strong sales with anime and.......country music?
The call itself was really tough to listen to. I'm not sure why the conference call persists for dissemination of basic financial information in this day and age. They cut in and out more than a couple times and had to repeat a few details enough times that you began to wonder which part was actually correct. They also showed that their brass has a hard time pronouncing some of their own subsidiary's titles (Neh-jeh-Muh?). Sounds like the Tower Records bankruptcy resulted in some additional write-offs of roughly $2,000,000. After seeing this sort of event already happen with Musicland & Friends, why do media publishers and distributors still allow retailers to move stock before paying in full? When I was working for Best Buy they were able to withhold payment for stock received for months on end. Certainly they have deep enough pockets to buy what they sell, so why are they allowed to receive it before paying? Doesn't this system ensure that nearly all bankruptcies result in significant loses for the distributors? |
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indrik
 Posts: 365 Location: yonder |
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As far I know, everybody works that way. When I made plastics, we paid for our feedstock with the money that we got from selling the finished goods, at least theoretically, rather than writing a check up front. It reduces the amount of capital you need up front to run a business, and allow sa smaller actual investment to build a larger business. I believe the term is "borrowing against potential receivables" or something like that. But yes, it pretty much assures that if any part of the chain goes broke, everybody's screwed. When my old company started to go downhill, we started going from having 90 days to pay to having 30, which means we had to ask our customers to pay more quickly or have somebody (ie, the owners, since it was a private company) to dump more money into the company to keep it going. (Although that always seemed like the bank taking $25 for a bounced check. If I couldn't cover the check, where am I going to get the extra $25?)
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AstroNerdBoy
 Posts: 413 Location: Denver, CO |
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Good to know that FUNimation is doing so well. It helps proves that knowing you have TWO anime fandoms out there is the best way to achieve success in this glutted anime market.
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BleuVII
 Posts: 672 Location: Tokorozawa, Japan |
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Go funimation! Woot.
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