Media Economics Assignment Sample
Added on - 21 Apr 2020
Media Economics1MEDIA ECONOMICSBy (Student’s Name)Professor’s NameCollegeCourseDate
Media Economics2MEDIA ECONOMICSGAPGlobal Digital Media OutlookAn integrated view crossway the media landscape has become as critical in thecontemporary world like never before. The traditional media consumption is increasinglyunder pressure from digital with consumers facing an ever-expanding range of contentchoices. This swift change is creating key challenges as well as opportunities for themedia industry leaders (Berglez 2013). The consumers worldwide endure to spend theirhard-earned cash on entertainment and media, from obtaining broadband access toreading books, newspapers, magazines and TV subscription and satellite radio,purchasing music, playing video games and watching in-home videos (Ess 2013). On theother hand, advertisers have never stopped following consumers eyeballs and havecontinued to spend increasingly on advertising within such media and on out-of-homealongside digital. Accordingly, global media and entertainment spending expanded 5.80%in 2012 despite sluggish growth of economy in several economies. This stood slightlybelow the surges documented over past 24 months, yet still a remarkable enhancementcompared to 2009, where the global recession culminated in a plunges in the entireEurope and North America (Berglez 2013). Spending growth not surprisingly varybroadly among the several regions. A 4.5% surge was recorded in North America in year2012, albeit falling short of the global average. This was the biggest gain of the previous5 years. The region gained from the double-digit benefits in the broadband accessibilityand digital advertising alongside a TV advertising boost in the US. The latter connected tothe Olympics and elections. In its entirety, EMEA surged expending by merely 3%whereby Western Europe witnessed the weakest economy, its media expenditure rose
Media Economics3merely 9%. Such an increase remained the worst performance in Western Europe sinceyear 2009, where expenditure dropped 1.6%. In comparison, the entire expenditure in theMiddle East/Africa (MEA) surged by 21.30% in year 2012, hugely reflecting surgedbroadband expenditure in Middle East/North Africa (MENA). Indeed, the broadbandcomprised 2/3 of the entire media expenditure in MENA in year 2012, nearly thrice theglobal ratio of 24%. In Central and Eastern Europe, the media expenditure surged 8.50%as strong economies in Turkey and Russia propelled double-digit media expendituregrowth, balancing off low-single-digit gains in other economies (Berglez 2013).Expenditure in Asia Pacific surged 8.50% in year 2012, propelled primarily by China'sgrowth, at 16.40%, which produced almost 1/2 o total gain. Growth in Asia Pacific withan exclusion of China hit 6.10%, more closely in alignment to global average. The bestgrowth tale was provided by the Latin America in the region, recording a 13.30% surge in2012. The region stays at initial phase of development than other portions of the worldand double-digit surges in broadband and in-home video entertainment stood principalpropellers of expenditure growth. Over the coming 5 years, global expenditure on mediaalongside entertainment is projected to expand at a modestly swifter 6.10% compoundyearly rate, reflecting an enhancing economic climate (Ess 2013). It is anticipated thatWestern Europe and North America will stay the slowest-expanding regions, with low-to-mid-digit gains, however, Central and East Europe and Asia Pacific shall continueadvancing at higher single-digit rates. Concurrently, Middle East/Africa alongside LatinAmerica shall experience healthy expansion in media expenditure, accomplishing double-digit compound yearly advance to 2017.Discuss the following
Media Economics4oRise of Arab Digital Generation (ADG)The ADG is a technology-savvy demographic borne between the years 1977 and 1997.This generation denotes 40.0 percent of the population of MENA and has distinguisheditself socially, politically and economically (Sabbagh, Mourad, Kabbara, Shehadi,Samman and Insight 2012). The cultural values that have clearly shaped the Arabregion remain gradually altering. Based on the latest Strategy & Survey report, it hasbeen indicated that the traditional region's values-acknowledged as "hospitality,""dignity," and "generosity" –have increasingly been supplemented by a slowemergence in "individualism". This remains particularly true amongst the people agedbetween fifteen and thirty-five, whom are referred to as the ADG (Sabbagh, Mourad,Kabbara, Shehadi, Samman and Insight 2012). The change is reflected in fledglingindividuals' belief in their rights of pursuing their individual objectives and goals, tobeing increasingly individually-expressive as well as to value self-reliance andindependence. Such a shift really matters to the media players because it changesmanner in which young individuals consume- as well as create-media. This generationis growingly looking for personalized contents compared to repackaged content forMENA (Sabbagh, Mourad, Kabbara, Shehadi, Samman and Insight 2012). Thegeneration need content which tackle their corresponding experiences, lives,perspective and where they don’t find such a content, these young people make thecontents themselves. Such an impulse-alongside the accessibility ease saves to digitalmedia-has culminated in the content assortment encompassing user-derived videos onYouTube; less-budget, award-winning feature films; alongside a range of games withthe local zest.