The Business Journal’s annual report on young entrepreneurs, some of whom entered the working world while in their teens.
Jason Peterson always knew he wanted to do something in the movie business. Today, at 27, the self-proclaimed entrepreneur at heart already has two companies in the entertainment field under his belt.
“I like to be in the driver’s seat,” said Peterson. “Plus working 12-hour days at a studio doesn’t really sound that appealing.”
Santa Monica-based GoDigital Media Group is a digital distribution and marketing services company started by Peterson in late 2005. The company not only supplies digital audio and video to online outlets, but also has licensing and in-house digital marketing services. Another main component of the company is its digital supply chain management.
“This allows any content business to manage all their content digitally,” he explained.
Peterson started his journey in 2000, while attending USC’s Marshall School of Business with an emphasis in cinema and television. Peterson and three other friends started a production company, Symbolic Entertainment. Its first produced film, “The Beat,” was accepted by the Sundance Film Festival when Peterson was only 19.
“That gave us the platform to continue producing films of that nature,” he said.
The company continued to produce movies as well as music videos, and by 2007 Symbolic was producing two films and 35 music videos a year. During the five-year period, his partners gradually left until Peterson took complete control. It was also during this time that Peterson was developing a new economic model.
“The model was simple: Consumption becomes digital. But I didn’t know how to implement the model,” he said.
It wasn’t until 2005, while attending Pepperdine University Law School, that Peterson said a light bulb went off.
“Business that generated passive royalty income with no cost for goods sold was a nice business and digital media has those characteristics,” said Peterson. “At law school I determined how to harvest intellectual property from the producers of that property by putting together a digital supply chain of Internet and mobile download retailers.”
However, being an entrepreneur at 27 does come with some challenges.
“People tend not to take you as seriously,” he said. “Techniquewise it pays to form a relationship over the phone or e-mail. Then by the time you have established that relationship, that prejudice goes away.”
Even as he balances his companies and his new law degree, Peterson said there is always a possibility of a new business.
“There was a joke that I’d start a business a week. But the joke changed after I got my license to practice law; now it’s a litigation a week.”
FAST FACTS:
– Jason Peterson, 27, founder and president, GoDigital Media Group, Santa Monica
– Business: New-media distribution firm
– Employees: 22
– Financials: Profitable
– Fact: Early on, GoDigital signed rapper Master P to an exclusive worldwide distribution deal
