This fall Belmont University’s Mike Curb College of Entertainment & Music Business (CEMB) will partner with Avenue Bank to offer a unique course for entrepreneurs in the music and entertainment industries. Titled “A Study in Personal Finance & Banking in Relation to the Music Industry,” this course offers an elite group of junior and senior level students an introduction to banking and personal finance, including loan examples and case studies that are music industry specific.
In response to feedback during last year’s Curb College strategic planning process, this new course will address student concerns about managing their own finances as entrepreneurs in the music and entertainment industries. In line with Avenue’s mission to serve the local community and the entertainment industry, the Avenue Bank team developed a curriculum to teach students how to create a budget and understand the basics of managing personal finances, to identify and evaluate financial information necessary to make a loan decisions and to analyze a music industry loan, underwritten with royalties and publishing, among other topics.
Avenue Bank Chairman, President & CEO Ron Samuels said, “It is exciting for Avenue Bank to partner with Belmont University to educate students on personal finance and understanding the role of a bank in the music industry. This class will give students real job-ready knowledge that they will definitely be able to put to use as they embark on careers in music and entertainment.”
Senior Director of Curb College Initiatives Sarah Cates added, “The Curb College values addressing student feedback and is excited to partner with Avenue to help prepare our students for unique challenges and opportunities they’ll face as they maneuver the financial side of the industry.”
CEMB Dean Wesley Bulla said, “This partnership is another example of our unique approach to education that distinguishes Belmont University from other educational institutions.”
Included in the Nashville Post list of “Best in Banking” for 2011, Ron Cox was a part of the team that helped start Avenue Bank and joined the company in November, 2006. The music and entertainment division has specialized knowledge of the workings of the music and entertainment industry including the valuation of intellectual property and song portfolios, the role of PROs and record labels, the special needs of touring artists, and more. Led by Cox, “A Study in Personal Finance & Banking In Relation to the Music Industry” will be co-taught by other members of the Avenue Bank team, including:
- April Britt, Learning Manager
- Ron Samuels, Chairman, President & CEO
- Kent Cleaver, Chief Operating Officer
- Cooper Samuels, Private Client Banker – Music & Entertainment
- Randy Hulse, Private Client Banker – Music & Entertainment
- Jim McCann, Mortgage Division Manager
- Andy Moats, Chief Credit Officer
- Pete Wooten, Director of Commercial Banking
- Allan Joiner, Commercial Banker
- Jeff Robertson, Commercial Deposit Specialist
As a guest columnist for the Nashville Business Journal Cox explains the differences in entertainment industry specific banking: “One of the biggest is having an understanding and appreciation for the value of the collateral that secures any credit. In the entertainment industry, collateral is often based on ‘intellectual property’ rather than more tangible assets that banks typically prefer… Also, the cash flow for performing artists and musicians can vary wildly and don’t fit a traditional ‘monthly income’ model.”
About Avenue Bank
Avenue Bank opened in July, 2007, and aims to be Nashville’s signature bank. Avenue Bank offers business and personal banking services through a team of professionals dedicated to serving the creative spirit of Nashville. The bank’s name reflects the creative, entrepreneurial, friendly and boutique environment which clients immediately experience on arrival – including Avenue’s unique “concierge service.” Avenue Bank has been recognized as a “top employer” by Business Tennessee and the Nashville Business Journal. Avenue Bank’s headquarters office is in the historic Baggage Building at Union Station, with branches in Nashville and Franklin. For more information, visit www.thedifferenceisreal.com
