The risk the company takes with its new strategy, analysts caution, is losing its focus on food and the restaurant business. They understand the food business better than their competitors and were always more focused on that part of the service. One is a business of selling food and T-shirts, and the other is one of entertaining people with hip content. But Little argues Hard Rock doesn't need online revenues to exist and isn't trying to be a new-media company. Hard Rock President Beaudrault, a 30-year veteran of the restaurant biz, concedes he wants to lessen consumers' association of Hard Rock with theme dining.
Food is the new mantra.
But at the end of the day, I have to remember that the engine fueling all of this is the caf experience. Competitors aren't likely to sit still, however. And Planet Hollywood International launched a signature Web site at the end of July, setting up a separate company to run the Net business. Instead, the site's highly focused on movies, whether it's showing trailers, selling set props and other merchandise, dishing gossip, or before the end of the year, selling tickets. Planet Hollywood's Earl says the bankruptcy has made him much more aware of how to run a successful business, even on the Net.