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Modeling and Innovative Research Frameworks

Abstract

This introductory chapter will define the field by describing the management and economics of media and communication as an interdisciplinary perspective that applies economic theory and methodology to assess whether media organizations efficiently reach their respective objectives also beyond profit maximization. A brief and selective history of the field will be provided before the characteristics that constitute media as economic goods are introduced, and it is considered how this affects media functions. Furthermore, an outline of the chapters in this volume will be presented.

Abstract

This chapter starts with a brief introduction to major terms and definitions of concentration, its measurement, and its specific significance in communications markets. This is followed by a discussion of the substantive legal provisions for the governance of concentration and competition in communications markets and the shared responsibilities between the institutions that enforce them. Finally, it scrutinizes these terms and definitions as well as the handling of concentration in the light of technical, political, and economic developments that have substantially restructured the communications industries over the past two to three decades. These developments have put competition issues at the forefront of policy discourses and challenged the assessment and measurement of concentration in communications. In particular, they have raised significant questions regarding the adequacy of traditional enforcement practices, particularly in view of the convergence of communications industries, the increasing platformization of communications markets, and the proliferation of multi-sided businesses.

Abstract

Public broadcasters have held an important position in European media markets ever since their creation in the 1920s and 1930s. While their economic impact on media markets was perceived as market distortive and negative in the 1980s and 1990s, the position of policy-makers on this has gradually changed in an era of platform domination. Nowadays, policy-makers also emphasize the potential of public broadcasters’s investments in audiovisual production and innovation. The aim of this chapter is to discuss the role of public broadcasters in media markets, devoting attention to issues of market distortion and European State aid control, public broadcasters’ contributions to domestic audiovisual production, and their investments in innovation. We argue that public broadcasters can indeed contribute to the sustainable development of media markets, but that such an objective should be subordinate to their societal role.

Abstract

This chapter argues that research on media innovations benefits from combining insights and concepts from the business literature with the critical theory approach typical of media and communication studies. Business, economics and marketing literature rarely address innovations in media industries, and communication and media scholars seldom look beyond their own disciplinary boundaries when studying media innovations. This chapter first reviews how the interrelated notions of innovation and creativity are conceptualized in the literature, and next how innovation and creativity apply to media industries. Using music streaming services as a case, I argue how innovation and business literature provides perspectives useful for understanding the development and adoption of these services. Key notions include a turn to experience-centric approach to innovation, customers as co-producers of service-value, and the context of innovation extending to include multiple actors and their interactions. Whereas the innovation literature has much to offer, media and communication scholars are likely better positioned to investigate media innovations than scholars from the business and marketing fields. This is due to the pro-innovation bias and lack of critical approaches in the innovation literature. A core concern for the study of media innovations is therefore to also question innovation.

Abstract

This chapter explores how labour in the media industries is shaped by the inherently risky nature of media production. It draws on the concept of risk as a critical lens through which to view key characteristics of work in the media industries, investigating how research describes and explains them. In particular, we discuss the transfer of risk and responsibility from media organisations to individual workers and the resulting economic insecurity for workers, which is made possible by a number of factors but most pertinently neoliberal political contexts and processes that have facilitated deregulation and eroded effective workplace representation intended to protect the collective interests of workers. The chapter focuses on the dominant form of this transfer - flexible employment - and the managerial advantages of this practice as well as the material and subjective implications of this transfer for individual workers. By focusing on risk in media work, we hope to bring business-centric media management issues and literature into a fruitful dialogue with critical media industries research, which engages with normative issues of exploitation, inequality and exclusion.

Abstract

This article tries to unravel the complex interdependencies between economic development and media. In order to do so, it differentiates between media demand vs. supply, and recipients vs. advertisers on the demand side. It highlights differences between media or content categories, and considers both directions of influence. Due to the asymmetries between upswings and downturns with respect to the depth and speed of effects, this article focuses more strongly on recessions. It becomes clear that adjustments are undertaken when the economic condition deteriorates: Affected consumers as well as advertisers reduce demand or shift their budgets to other (media) substitutes, media organizations cut costs and/or explore new avenues to create revenue which in turn can cause unwanted consequences with respect to media diversity or journalistic norms. Vice versa, there is also empirical evidence for the impact of advertising investments, as well as media content on the economic cycle. As for the latter, research has, for example, shown that news coverage during recessions has the potential to worsen the situation.

Abstract

Managing media products is challenging. Media products are innovations with hedonic consumption utility which are distributed in competitive physical and digital markets influenced by social and cultural trends. These attributes often cumulate in short life cycles and high flop rates. Successful marketing strategies require knowledge about the ecosystem and the effects of marketing activities. This article provides a framework to develop marketing models and to evaluate existing media business studies. We discuss fundamentals in starting the modelling process, specifying the model, and fitting relationships. Our framework provides an introduction for researchers who are new to this field and some guidance on advanced econometric specifications. On each step of the modelling process, we elaborate on key challenges in various media industries and illustrate econometric issues with examples to provide implications for managers of media companies, scholars, and policy makers.

Abstract

This chapter addresses the subject of branding from both the media branding viewpoint and the brands as media viewpoint. With the advancement of media technologies, the practice of media branding has changed significantly. In addition, brands have become capable of creating and disseminating media content to engage their customers. In this chapter, we first reviewed the development of media branding and key issues that affect its practice. We highlighted the importance of audience insight and electronic word-of-mouth (eWOM) in the successful branding of media. As for brands as media, we focused on personal brands, especially social media influencer brands, as a typical example of media-like brands. We discussed marketing communication through influencer brands as a means for commercial brands to cultivate the former’s media influence and proposed a framework regarding the relationships among social media influencer brands, commercial brands, and consumers in such practices. In addition, we identified the characteristics of personal branding on social media and proposed the necessities of influencer branding in today’s media environment.

Abstract

Transnational media management research deals with the specific challenges related to trading media products across borders. Considering media as “culturally charged” commodities, demands scholarly attention for most diverse audiences, political and market frameworks. This has triggered a large body of scholarly work on market entry, product and organizational adaptation strategies. In this chapter, we review this literature by asking four transverse questions. In particular, we discuss why media companies cross borders, how to quantify their engagement, how they cross borders, and what role culture might play in this context. Our discussion illustrates the complex and interdisciplinary character of transnational media management research. We explicate this by pointing to questions for future research.