Gresham-based Allegro Media Group (No. 101 among best Oregon companies to work for in 2008), which matched Fortis Construction’s 108% sales growth, is another case study in strategic adaptation. The Gresham-based entertainment distribution company has quadrupled its business over the past five years to $100 million in sales and 100 employees by delving into every genre of music imaginable, from classical to New Age to indie rock, distributing digital music and videos through major Internet sites as well as CDs and books on tape through Wal-Mart, truck stops, Nordstrom and other retailers.
Between its new 131,000-square-foot facility in Rockwood, its recent acquisition of a company that specializes in marketing music and videos to the Armed Forces and a new infusion of $37 million in equity, Allegro is well positioned to avoid the misfortunes plaguing less nimble players within the music and entertainment industry.
“The entertainment industry isn’t dying,” clarifies Allegro CFO Vince Micallef. “It is changing. And if you’re not changing, you’re probably dying.”
Therein lies the challenge for Oregon’s private companies, large and small: to remain ahead of the game by adapting intelligently, even as fuel prices continue shooting upward, home values keep sliding downward and banks, businesses and consumers look for ways to cut back.