Post on 27-Mar-2015
What Business Is the Media In ?
The Media
For the purpose of this presentation, the media are defined as businesses that create or distribute content and that are supported in part or in whole by advertising:– Television– Online– Radio– Magazines, Newspapers– NOT Outdoor, Direct Mail, or Commerce
websites.
What Business Is The Media In?
Communication? Television? Radio? Online? Print? News? Entertainment? None of the above. THE ADVERTISING DELIVERY BUSINESS
What Is a Business? Business-As-War Metaphor
– Mission– Purpose– Goals
Objectives– Strategies– Tactics
What Is the Mission of Most Media Executives?
Enrich themselves Gain power and fame Enrich stockholders
What Is the Mission Of TV Journalists?
OLD: To Protect and enhance:– Freedom– Democracy– Free enterprise
NEW: To Gain wealth, fame, and power
What is the Purpose Of a Media Business?
Make a profit – Serve themselves and stockholders
Serve advertisers– Customers (Customers buy a product)
Attract an audience– Consumers (Consumers use a product)
Serve the “Public good, convenience, and necessity?” – Who must do this?
What is the Purpose of a Media Business?
OLD - Broadcasting (TV and Radio Stations, Which Are Licensed and Under Old Regulations):– Serve the Community – Serve the Audience (Consumers)– Serve Advertisers (Customers)– Serve Stockholders (Profit)
NEW – Serve Stockholders (Profit) (New Regulations, Pressure From Wall Street)
Content/Programming Goals?
1 To get people to watch, view, read, listen2 To get ‘em to W,V,R,L more often and
longer3 To imbed and enhance brand image
(promotion)
Content/Programming Strategies?1 Create a DISCERNABLE, RELEVANT,
PROMOTABLE, DIFFERENTIAL competitive advantage
2 Create and reinforce a brand image:– In local TV news: journal of record, warm and
friendly neighbor, action/sensational– Online: New music, conservative punditry, new
techie cool3 Appeal to audiences’ needs, wants, aspirations,
and prejudices (selective perception)
Content Programming Strategies (Cont’d)
4 Become the preferred provider5 Innovate (new content, new technology,
new distribution channels)
Remember
The media are businesses – driven by the bottom line
No one knows what the future holds– So innovation and adaptability are critical to
survival The media are not in the business of making
you a star or meeting your personal needs The media are unbelievably competitive The media are in the advertising delivery
business– Rarely with a sense of public service responsibilities