Samenvatting Production and Consumption of Digital Media: Theory and Application (B-KUL-S0G76A)

Production and consumption of digital media:
summary


Lecture 1: Introduction


Characteristics of Media Markets


1. Communication perspective
 Traditional media going online
 Pure online media
 Pure online platform


2. Technological perspective
 Digitization is the change process from analogue information
units to dematerialized binary information units
 different stages in different genres: Print news, Tv, Radio
 How does digitization change media markets?


3. Economic perspective
 Changing business models
 New revenue opportunities
 Moving to digital business
Market forces: bring production and consumption together
Market balance: price is at the intersection of supply & demand
A perfect market assumes that consumers are well-informed & rational
there are a lot of producers, free access to production


Imperfect market forces:
 Monolithic market
 Oligopolistic market
 Government intervention