Sustainability Profile: Cast & Crew

Cast and Crew is a leading provider of software and services to the entertainment industry, automating most of the payroll, accounting and management functions related to television and film production. Its product offering is customized to meet the diverse needs of television and film production that include daily, weekly or ad hoc payments, residuals, production management, benefits accounting and tax incentives. The company has long standing relationships with marquee TV, film and digital studios such as Warner Bros., Disney, 20th Century Fox, HBO, Viacom, Paramount, Netflix, Amazon and Hulu. Cast and Crew also works with some of the leading shows, performers and venues such as Coachella, Bruno Mars, and Staples Center. During fiscal 2020, the company processed almost $11BN in gross wages despite temporary production shutdowns and a significant reduction in live events related to the global pandemic.

Cast and Crew prides itself on making production easier, but they also make it more sustainable. Their product offering allows for the elimination of printed purchase orders and start forms with low-energy, paperless and mobile-friendly processes. Using Cast and Crew’s digital forms can reduce carbon emissions by almost a metric ton for the average large budget production. The company’s products and services also support remote work, eliminating the need for extensive travel to coordinate every aspect of production. The company partners with the British Academy of Film and Television Arts (BAFTA) to trace the carbon footprint of television and film productions and shares best practices to reduce them. BAFTA’s recent annual reports showed that television production had reduced carbon emissions by 10% over the last two years. Cast and Crew continues to expand products and services to help production companies identify carbon outputs so they can be proactive in further carbon reductions and measure improvements.

Sustainability is a priority within Cast and Crew’s operations as well. The company handles a significant amount of sensitive data and works diligently to protect that information. Multi-factor authentication has been fully rolled out to internal and external users to verify the correct persons have access to sensitive data. Given the vast of amounts of information it has access to within its systems, Cast and Crew is subject to numerous privacy policies. Privacy policies are required to meet Health Insurance Portability and Accountability Act (HIPAA) standards, as well as the EU General Data Protection Regulation (GDPR) due to the company’s operations in Europe. Cast and Crew has recently increased its focus on diversity by launching an internal task force that established five areas of focus (Empowerment, Dialogue, Training and Education, Hiring and Involvement) for the company to achieve greater diversity, equity and inclusion in the workplace.

Community involvement is another important pillar in Cast and Crew’s sustainability mission. In the US, the company has partnered with Burbank High School and the Burbank Boys and Girls Club to encourage youth empowerment through creativity. The company sponsors a team every year in the American Cancer Society’s Relay for Life event that raises money to fund cancer research and provide education and assistance to those battling the disease.

With a leading market share across TV, digital streaming, feature film and commercials, Cast and Crew has the opportunity and intent to make meaningful progress in the areas of sustainability throughout the entertainment industry.

 

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By Marcus Moore


Important Disclosure Information

Zeo Capital Advisors is a fundamental investment manager with a short-duration credit mutual fund, a sustainable high yield mutual fund and separately managed accounts. Marcus Moore authored this piece and is the Assistant Portfolio Manager and Senior Credit Analyst at Zeo Capital Advisors. For more information contact Zeo directly at 415-875-5604 or visit www.zeo.com.

Past performance is not indicative of future performance. This Company was not selected for performance-based reasons, and was instead selected to emphasize the types of issuers that Zeo Capital Advisors, LLC (“Zeo”) seeks to invest in based on its sustainability mandate.

The methodology for initially preparing a Sustainability Profile for an issuer requires the issue to be among Zeo’s largest holdings as of quarter-end. As of June 30, 2021, Zeo’s clients owned securities issued by this Company. Sustainability Profiles are shared to provide information about the sustainability selection process and may be used even after an issue is no longer one of the largest holdings in a strategy.

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1598-NLD-10/12/2021

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