DTS, Inc. is the ultimate entrepreneur’s success story. Started in 1991, the company found patronage in director Stephen Spielberg and Universal City Studios. With just five employees to its name in 1993, DTS grew to become the provider of multi-channel HD audio for every major film studio in the US and has expanded its services to creating the ultimate entertainment experience for music, movies, digital streaming, broadcasting, and more.
So what are the crowning achievements – and secrets to the success – of DTS?
Patronage
Just as with any startup business, you need to have access to funds in order to be successful. The industry, structure, and nature of the business determines how much funding it needs in order to get off the ground. A freelance writer needs only a laptop; a carpenter may need just a few basic tools or the rental of a woodshop. However, when the business is founded on an emerging new technology, the necessary initial investment is much greater. \
The founders of DTS managed to be in the right place at the right time in order to secure funding from a major film studio. The theatrical sound systems used up to that point were considered increasingly obsolete – the industry was ready for a new surround-sound technology, and ready to pay the money to get it.
- DTS became wildly successful in part because it saw a need in the film industry that was not yet filled, and they were there ready to step in and fill that need. The strategic decision to launch the new sound system in theaters with the release of Jurassic Park in 1993 showed off the full capabilities of the sound system – and cemented its place in film industry history.
Evolution
DTS did not rest comfortably on its laurels after gaining an audio monopoly of the film industry. Instead, it chose to branch out into other aspects of sound and audio.
- In 1997 the company launched the DTS Entertainment record label to break into the music industry.
- In 1999, they established licensing agreements for their technology to be used by nearly every major consumer electronics manufacturer in the world.
- In 2001, DTS entered the gaming industry by incorporating its surround sound technology in the PlayStation 2.
- In 2012, DTS acquired SRS sound technology to incorporate surround sound with nearly any music, video, or audio player available on the PC.
DTS, Inc went public in 2003 at approximately $25 a share and maintained that level for the next 10 years (NASDAQ).
Green Philosophy
The latest trend to hit every business industry has been environmental and energy sustainability, and DTS is at the forefront of that trend, with guidelines in place regarding:
- Energy efficiency
- Resource reduction and conservation
- Waste reduction and recycling
- Buying “green”
- Green commuting
According to DTS, “We are continually seeking ways to increase our “green” practices and reduce our environmental footprint… As a global company, we want all our DTS offices world-wide to conduct operations in a socially- and environmentally-responsible manner that will minimize our impact on the environment.”
Image source: freedigitalphotos.net
