The Media Business fall 2010

The Media Business fall 2010 - We will address specific We...

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Unformatted text preview: We will address specific We will address specific jobs And Job­related questions Please email Mandy with Please email Mandy with questions for the following: Advertising Industry Public Relations Industry Comms Studies Industry Broadcast Public Relations Journalism Traditional Media Economics Traditional Media Economics (making money, staying in business) o o o o o o o Advertising Circulation/subscriptions Donations Private Support Government Subsidies Other enterprises Government Funded What sells today? What sells today? News – packaged and documented – Sensationalism Non­news: Social media Instructional such as DIY The regulars: sports, entertainment Music: distribution control New Media Economics New Media Economics Commercial sponsors AdSense CPC (Cost per Click) Cost per Lead (Also used in traditional models) Cost per Sale (Difficult to track w/o online ordering) CPI or CPM (Cost per Thousand Impressions) server counts every time an ad impression opens on a user’s screen CPA (Cost per Action) typically opt­in advertising Subscriptions Links Domain names So many others Media Economics cont’d Media Economics cont’d The information must be in demand Make the information outlet “famous” Information as a loss leader Direct traffic to your product SERPs (Search Engine Results Pages) the list of web pages returned by a search engine as a result of a keyword search Media still sell information Do not always communicate only for profit Typical Life Cycle Typical Life Cycle Introduction (Danger Zone) – – – – – – – – Idea R & D Manufacturing Testing, retooling, testing Marketing Rapid growth in sales and profits Reinvest or take profits Increase market share, promotion (advertising/public relations) Growth Maturity – R & D restricted to product modification and improvements – Competition flanks the leader Decline – Seek to lower production cost – Intro in cheaper markets Life Cycle Model Life Cycle Model Why does this matter? Why does this matter? Media sell products – Hard and soft products – Intellectual products and rights – Creative products “Media” are products Media practitioners must be always aware of the “bottom line.” Product Life Cycle (applies to Product Life Cycle (applies to media products and others) Product life cycle is one element that drives a succession of strategies used by management to develop, manufacture, and sell a product Life Cycle Examples Life Cycle Examples Intro Growth Maturity E­ Email Conference Fax Digital Blu­Ray Download Dear John Avatar DVD Decline Hand­ written letters VHS Harry Potter Pirates and the Half­Blood The Short Head and the The Short Head and the Long Tail (Chris Anderson) Electronic Developments such as Internet Electronic Developments such as Internet Markets allow for longer product cycles— especially for media products Short­Head – Many people interested in few products Long­Tail – Few people interested in many products What does it mean? Ralph Hanson’s “Seven Truths” 1. 2. 3. 4. 5. 6. 7. The media are essential components of our lives There are no “Main Stream Media” Everything from the margin moves to the center Nothing’s new: Everything that has happened will happen again New media are always scary Activism and Analysis are not the same thing There is no “They” Media Use Media Use Government and Legal Regulatory factors (Net Neutrality, Telecomm cos. charge content providers, issues?) Sociocultural factors (adoption of technology, Beta v. VHS, ) Technological factors (Marketing and ability of engineers to speak “Shakespeare”; need for Public Relations, Marketing, consultants) Economic factors (individual or community economies, adoption and infrastructure build out) Media Business Media Business Fragmentation – Historically the channels were generally appealing – Specialization – Diversity of voices, but is anyone listening? – How does an entity make money? Convergence – Horizontal and Vertical Convergence? – Limits to diversity, Limits to…competition by providing barriers to entry? Remember Lasswells’ Remember Lasswells’ Media Functions: Surveillance Correlation Transmission of Values Additionally, media Entertain Provide a marketplace for goods and services Digital Revolution provides Digital Revolution provides Media opportunities based on Lasswell’s ideas Surveillance (of the environment): people want to know about places they cannot travel, topics they cannot study at any depth Correlation: presents solutions to solve problems Transmission (of Values): educates and socializes, social heritage from one generation to another, one community to another, remember the “Kitchen Debate” Cultural Imperialism Theory Cultural Imperialism Theory (Herbert Schiller) Mass media, and other industries in Western societies export ideologies, technologies, economic and political interests and transform and dominate other cultures. The thought is that this is designed and deliberate. Cultural Imperialism Theory, Cultural Imperialism Theory, (Herbert Schiller) The thought: Media content is widely distributed Citizens in some countries have very limited choices Some people seek attractive alternatives to what is available These audiences are led to adopt, or want to adopt, goods, services, values, and lifestyles that are in Western media. This creates unrest and markets for goods that can be controlled by Western Governments Therefore, we assume that Western Governments deliberately engage in cultural imperialism to establish economic and ideological control. Cultural Imperialism Theory Cultural Imperialism Theory (Herbert Schiller) Concerns are mainly for Africa, Latin America, Asia Does it happen? Should it be avoided? Zo'e Tribe Can it be avoided? Increasingly, other Increasingly, other societies provide content Brazil, Globo Television Italy, RAI Doha, Qatar, Al Jazeerah (Arab Nations) India, Bollywood UK, BBC Ownership Integration Ownership Integration Ben Bagdikian o Vertical Integration o Horizontal Integration Issues: o Monopoly o Consolidation The Media Business The Media Business Government Models o o o o o Authoritarian Libertarian Soviet Social Responsibility Developmental ...
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