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