Unique nature of the Media Industries Flashcards
What are some strategic levers that an organisation can employ to give it a competitive edge in it’s external environment?
1) Quickly respond to technological change
2) Increase levels of creativity within the workforce
3) Change leadership styles
What does the public sphere model do?
The public sphere model coneptualises the media as a citizen resource, as opposed to a simple consumer product
What is the field of strategy concerned with?
It is concerned with how organisations respond and align themselves with the external environment
Why is it inadequate to view the media purely through the language of consumption?
Because the media are important contributors to educative, deliberative and integrative processes, and viewing the media purely through the market model neglects the cultural and political significance of the industry.
Why are the media industries treated to special legal protection?
Because a freedom of expression is vital to an uncensored media, which is a key requirement for a democratic society. The media receive special legal protection so long as they behave lawfully with their practices
What is viewed as the essential requirement of a democratic society?
The notion of a free press
In a social context, what does the media industry promote?
The media promotes social integration on a global scale, providing an informal education through providing an insight to the lives of others
What process is the media central to?
The public’s process of ‘deliberation, education and social integration’
What affects the persuasiveness of political discourse?
The quality of the media material provided to the publicq
Why are media products different from other products?
Because media products hold cultural and political significance, providing citizens with the tools they need in order to be active participants in social and political life
Who has the greatest control of what media products are made?
The advertisers, much more so than the public who consumes the media products themselves. This is best demonstrated by looking at the significance of ‘The Upfronts’ in America, where the television industry hosts a group of gatherings with advertisers at the start of an important advertising sales period. This allows networks to gauge how advertisers feel about their new shows, and alter them accordingly
How are most online business models generating revenue?
By offering users free content, and using advertising to finance the creation of this material
What makes up the bulk of print media revenue?
Advertisements. Traditionally, newsstand sales and subscriptions only account for about one third of newspaper and magazine revenue
What varies greatly from media type to media type?
The balance between revenue generated from consumers buying the product directly, and revenue generated from advertisements. Books are at one end of this extreme, with broadcast television at the other
What is unique about the market situation of the media industry?
The industry is not based on the traditional buyer-seller relationship, as advertising has complicated the process and turned it into a dual product marketplace.
