The media space that captures viewers’ attention, whether for entertainment or the desire to be informed, guided by the existing experience of the actors represented in that space, sets standards in content broadcasting and often creates preconditions for forming predictions for all those who wish to take a step into that sphere. The preparation plan for such a step and for occupying a portion of the media space implies an exceptionally large number of elements, starting with the topic that the media format will address, the time frame and period of coverage and appearance, the manner in which the selected topic will be processed, and extending to the actors in front of and behind the cameras—their appearance, charisma, will, experience, preparedness, and similar factors.
The interconnection of these elements, their strength and balance, results either in exceptional success or in outcomes where weaknesses in the work plan become evident. It happens that certain elements of production, such as the main actors of the show and their charisma, or the very theme of the show, become so appealing and generate such success that the weaknesses of other components, even when real, become completely imperceptible.
An example of a show with a strong interconnection of these elements is the famous Shark Tank. The show has a unique and simple concept: major businessmen and successful investors with capital on one side, and representatives or founders of companies on the other, who come to the show and have a few minutes to present their company in the best possible way in order to reach an agreement with the investors (“sharks”) sitting across from them, who may decide to invest in that company.
During the presentation, most often at its beginning, and sometimes at the end—the entrepreneurs request a certain amount of money in exchange for a certain percentage of equity that the sharks would receive through that investment.
After the presentation, the battle for a deal begins.
Those few minutes of airtime represent a key component of the entire Shark Tank concept. Questions are asked, answers are given, information is requested, future projections are presented, and the sharks are introduced to the numbers the company has to present: sales, ROI, cost per customer/user acquisition, number of users/customers, and costs.
The sharks—whose most famous lineup includes Kevin O’Leary, Barbara Corcoran, Robert Herjavec, Mark Cuban, and Lori Greiner—through their questions uncover potentially weak points of the business, as well as its (unexploited) potential. The final deal, if one is reached, depends on the alignment of interests between the sharks and the guest company representatives, but above all on the sharks’ willingness to engage in that business or in the specific industry, if it fits within their business or investment portfolios.
Shark Tank is not merely a show with a strong connection among the prerequisite elements for success in the media space. It is one of those media formats that appear from time to time, rarely and through their work set standards for other media formats with similar themes.
During its first 14 seasons of broadcasting, out of 1,257 pitches, 766 deals were made, with an average agreed investment of USD 302,779 for an average equity stake of 24.66%.
The show continues to record millions of views per broadcast, with over 800,000,000 views on the official Shark Tank Global YouTube channel.
The format of the show represents the culmination of positive factors that correspond to an entrepreneurially oriented society such as the United States of America, which over the past 250 years has built and refined the backbone of the modern economic system and one of the most effective financial systems operating in the interest of the individual, the narrower or broader community—societies to which shows of this format are not foreign.
The opportunity to present a company to world-famous and successful businessmen, alongside high viewership of that presentation and the deal-making process—which can certainly result in a positive impact on sales and the overall image of the company—and finally the conclusion of a deal and entry into the business network of a top-tier and accomplished businessman, is a rare format with such substantial benefits. Naturally, this is under the condition that the presentation and deal-making process goes well, and that those presenting their companies do so ethically, as they should run their businesses, and present accurate figures. In that case, consumers will at least learn where not to spend their money.
As we can today freely say that entrepreneurship is the main game in the economy of the 21st century, the media presence of such topics carries significance far beyond the conclusion of business deals.
That significance lies in education, in emphasizing the importance of these topics due to broader social benefits, and in the influence on thousands of people who either have embarked on or wish to embark on entrepreneurship. Many company representatives on Shark Tank have openly stated that they learned everything about business simply by watching the show, observing details and listening to what is important and necessary from the very best.
The question I decided to pose to myself is: Could this work in Serbia?
My answer is that it could, for two reasons:
1. Today’s boundaries of the media space are being redefined. Podcast formats and social networks have long expanded the boundaries set by traditional media. In this sense, media formats focusing on business and entrepreneurship have already appeared in our region, such as the podcasts Biznis Priče, Startovanje, Balkan Business Podcast, Pojačalo, Preduzimanje, and others. Viewership is very much present.
Social networks are filled with content on these topics; however, such appearances—due to potential fraud and clumsy speculation—must, as anywhere else, be approached with caution.
2. There are successful entrepreneurs in our region who believe, above all, in the capacities of young people from this area and the opportunities offered by the modern era, as well as in the possibility of the American Dream in Serbia. Many entrepreneurs from Serbia and the broader region have achieved world-class success. After all, do you remember Robert Herjavec from the lineup of sharks on Shark Tank? He is of Croatian origin, born in the former Yugoslavia. Not that far away, is it?
We have entrepreneurs, we have positive examples, and we have interest—especially among young people. However, Shark Tank is an example of the culmination of American business and social excellence. Before broadcasting a domestic “Aquarium with Sharks” (a different title would certainly be required), should we first work on the business and social excellence of our country and set concrete goals that would guarantee viewership and success for such a show—or should we experiment?
It is a broad question, and as far as viewership is concerned, I can say only one thing: I know many people in Serbia who would regularly watch such a show.
