For the purposes of this paper media economics focuses on the wider ecosystem of markets and consumers around the companies. Another example is the practice or remaking old Hollywood movies with modern technology. Structures, Operations and Performance, showing how media companies that have traditionally worked with a single product such as a newspaper, a magazine, a TV channel now juggle a variety of products that may number in the hundreds and span mediums in highly complex portfolios of media products Albarran focuses on Spanish-language media in the US as a way to reach people in and of Latin American origin.
Growth of TV Channels in India: Print Media economics global marketplace The Indian Print Media grew only marginally in as a decline in advertisement revenues were offset by growth in circulation revenues.
The growth in ticket prices of movies at multiplexes, increasing number of Pay TV subscribers, increasing penetration of DTH with its user-friendly interface and technology, and introduction of Value Added Services VAS by media players are some examples of pay markets gaining importance.
In production an in-front investments into high quality camera equipment can be amortized over a number of years while it adds value in the production number of media products.
Increased net profits come either from increased 1 license sales while costs remain steady, 2 increased efficiency within the company that decreases costs or 3 from increased market power through corporate expansion.
Secondly, media corporations have more opportunity to open up and re-package content stored in siloes to international audiences through franchising licenses across the planet; for example a show that is popular in the US may create demand in Bulgaria without any targeted marketing as Bulgarians see clips of the series in YouTube; when a legal way to see the show is not provided increased piracy of the content is likely to occur.
With the studio already holding rights to the screenplay and an existing awareness of the story bringing a built-in audience, economies of scope can be achieved. Downing, McQuail, et al. The value chain is flattened, with media products created by a single person — a book, written, edited, and published and marketed through an online platform, without the help of a professional team, with lowered barriers of entry with insignificant initial capital costs, while time costs remain the same.
Movies in particular make use of what is known as windowing — each release with a certain timeframe set for each successive channel, accompanied with a marketing push for each window in order to hedge against failure in a high-risk environment, with multiple tries to sell the product becoming an insurance policy.
This highlights a crucial point, as even in the age of global interconnectedness, language plays a role in identification, community, and in how, what types of, and whom messages reach. Limited competition — aka monopolistic competition — a media market with many producers and sellers but only a few differentiable products within a category.
In distribution an established brand name can reduce the cumulative marketing cost associated with each media product released by the company as the brand has earned a degree of consumer trust through previous products.
There is interest in Indian content internationally, which goes beyond the Indian diaspora. Media management on the other hand focuses on issues within the companies themselves.
Conclusions and The Changing Landscape Digitalization of content enables online distribution and changes the options for international media in a number of ways.Media Economics and the Global Marketplace Chapter 13 “With their sights set on becoming the world’s top media empire, Murdoch and News Corp.
have advanced a business strategy that aims to make its content a centerpiece in American popular culture—especially its movies, music, and.
Chapter 13 – Media Economics and the Global Marketplace Monopoly/Oligopoly/Limited Competition Telecommunications Act of and Deregulation Hegemony Rise of Specialization and Synergy Cultural Imperialism The Effects of Media Consolidation on Democracy Chapter 16 – Legal Controls and Freedom of Expression Models of Expression.
Media Economics and the Global Marketplace Ch. 13 Analyzing the Media Economy Two spectrums The Media Economy Two key economic concepts across two broad areas: 1.
Media Structure How media companies diversify or monopolize various media outlets 2. Media Performance Analyzing behavior and performance of media companies (setting prices, living up.
Discussions on media economics takes place in academic literature, international panels and conferences, the halls of university buildings, and in the board-rooms of media companies themselves, where an understanding of media economics finds its practical use in steering a media companies in the turbulent waters and changing winds of the global.
Media Economics and the Global Marketplace Some guiding questions How are mass media organizations structured? What is the new media economy in the Information Age?
What is cultural imperialism, and how is it related to the globalized economy? Media Economics & Global Marketplace Common structures Monopoly – a single firm dominates production and distribution, either nationally or locally.
Eg: a city with one newspaper or tv station. More prevalent at the local level.Download