Examples of Variable Costs in the Media & Entertainment Industry?

Honestly, there aren't many and it does depend on what sector of TMT we're talking about (I'm assuming content production here). When you think about it, what's our unit? A movie or a show? If you treat it that way, actors, production studios, etc. are all variables, but it's an awkward way to think about it!

Licensing and distribution are the 2 that really come to mind.

Media & Entertainment is a broad bucket.

• If it is content production - then a portion of the crew/cast costs will be variable. There will be some crew who will be the bare minimum required - these would be fixed
• If it is broadcasting - then content rights could have variable components
• And other dimensions to look at Media & entertainment

Any more details you can provide us?