When the bloom goes off the . . . Apple.

It was a helluva ride.

After a decade of crushing it, three days ago, Apple admitted that some of its fruit may be spoiling.

In their quarterly earnings announcement, one of the largest companies in the world disappointed the street when they missed their forecasts by an orchard sized amount.

It was their first quarterly sales drop in 13 years.

The stock dropped 5% immediately.

One of the primary reasons behind the fall?  For the first time . . . the very first time since the launch of the iPhone . . . they sold less of them than the year before.

And right about now you’re wondering, “Uh, am I on the right website?  What the heck is Ken doing talking about tech companies?”

Well, first, rest assured, Gremlins didn’t take over your browser.  You’re on the right website.

Second, Apple isn’t really a tech company.  I consider them just as much of an entertainment company as any major studio.

And lastly, well, here’s why this announcement got my attention.

When you’ve got a hit product . . . or a hit show . . . it’s easy to sit back, get a little complacent, and just think it’s going to be gravy train time forever.

And it just ain’t.

What this announcement reminded me is that all things, even the iPhone . . . one of the, if not the, most influential products of the 21st century . . . eventually cool down.

Do you remember those launches?  The hype.  The lines.  The price tags (that no one had problems paying).  And what about the cool commercial that featured a Broadway Producer/Blogger that you might know?

They’ll never have that again with the iPhone.  That means Apple can’t sit back on that success if they want to continue to grow.

And you can’t either.

Or, to put it in the words that a plain-speakin’ mentor once told me, “You’re only as good as your next show.”

When you have a hit, use the resources and attention that comes along with it to double down on your research and development to find your next one.

(Side note:  I’m not sure Apple will ever get to where it once was without Mr. Jobs, the ultimate Creative Producer, at the helm.  It would be like me taking over David Merrick or Cameron Mackintosh’s company and expecting to have the same success.  They can expect different success.  But not the same.)

 

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Comments
  • Carvanpool says:

    Buy low, sell high. Trees don’t grow to the sky.

    **yawn! *

  • Chuck Eisler says:

    Having been the staging director for all the Apple shows for 16-years, I can tell you that, after Steve passed away, the corporate mode went into effect. No real leadership and vision, just lots of decisions by committee.

  • Gitta k. Jacobs says:

    I wouldn’t give up on Apple. Good buy at 93. Gitta

  • Norma Kramer says:

    Could Apple’s problem be at least partly because everyone over 10 years old who lives on this planet and can afford to buy an I phone already has one or two ? That problem can’t happen in the theatre business because shows aren’t a product ! I love new shows of all types and many other people do as well.

  • Rick says:

    ……..They’ll never have that again with the iPhone. That means Apple can’t sit back on that success if they want to continue to grow.

    ……Well said Ken, and I can assure you after my show receives the Tony award…I will not let this happen on my next,…and next,…. and next…Thanks!!

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