Yeah, the logo doesn't have to incorporate all the words in the name of a business. The "PRODUCTIONS" on the bottom seems to be superfluous. If you want it to be there, that's fine, but then you need to figure out a way for it to look more congruent with the rest of the thing. Right now, it doesn't share anything in common with the logo except the fact that it's sans-serif and white.
It might still be the same typeface (no, on second look, it's definitely a different typeface, or maybe just un-bolded), but it's squished, so it looks different. Also the kerning is different, and that looks odd. Lastly it doesn't tie into the logo at all, like a loose end, which might be circumvented by nudging the text up into the white border, like the "ONE MAN".