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Title: Distribution Strategy
Movie
Natividad, G. (2011) Financial Slack, Learning, and Competition in Movie Distribution, Social Science Research Network, 4(2), 1-46.
The paper explores ways in which unexpected financial slack impacts on the volume of all new product introductions, competitive strategies for those releases, as well as their economic performance. The author analyzes the distribution trends in the movie industry by introducing the theoretical concept of unexpected financial slack. The basic idea expressed in the paper is that unexpected financial slack enacts contrarian learning about the ideal competitive strategies while at the same time causing managers to extrapolate from very extreme success. This triggers a positive impact on release volumes, even though no positive influence on the releases’ economic performance is achieved.
In the methodology, the author sought to understand all the consequences of unexpected financial slack using an identification strategy that is simple yet very onerous on the data. The author employs sleepers as the primary source of exogenous variation in industry liquidity. The empirical properties of the sleepers are used to help satisfy the stochastic condition of the unexpected nature of financial slack. On the other hand, the author introduces a complete data repository for measuring probability, releasing behavior, and distributors’ information environment. To avoid rendering subsequent analysis useless, the two key pillars of empirical design used to investigate causal impact are precise measurement and exogenous variation.
The study found out that an increase in sleeper financial slack as shown through one standard deviation was associated with a 54% increase in the unconditional mean of new movie releases, which is equal to 2.42. However, a much smaller point estimate (0.024) was realized when ordinary financial slack was used with analogous univariate regression instead of the unexpected financial slack. This created the suggestion that sleeper financial slack possesses a much stronger per-dollar influence on the volume of new releases. This model also seems important by virtue of showing how dependent variables tend to change when sleeper financial slack has been ignored.
Natividad (2011) found compelling evidence showing that US movie companies with a high level of unexpected financial slack have been releasing more new feature films between 1985 and 2007. This is not just because of information advantages, but also liquidity. They also open most of their new releases on much fewer screens, contrary to industry conventions. Moreover, the companies tend to fail in the goal of attaining higher firm performance and consumer satisfaction.
TV
Guerrero, E. (2011) Networks in the Digital Television Age: New Context, New Roles. The Case of the Spanish Industry, The Journal of Spanish Language Media, 4(2), 102-124.
This paper focuses on television broadcasting in Spain, particularly the way distribution networks and channels have changed as the long-standing oligopoly paves way for the digital age. The most significant changes in the TV market dynamics were noted in the mid-2000s. These changes were marked by the re-launch of Digital terrestrial television (DDT), the emergence of new networks, proliferation of new platforms such as mobile and online TV, and a boom in specialized TV channels. These new developments allow the broadcast of a wide range of audiovisual contents, forcing broadcast managers to change their distribution strategies in relation to the business models of production companies. Guerrero’s (2011) paper dwells on two main issues: the transformation that has affected the TV industry through digitization and the role played by distribution networks within the new media environment.
A detailed historical approach is offered before attention is turned to television broadcasters, their distinctive features, modes of production that define their relationships, and their role in the multimedia environment. The analysis creates a better understanding of the TV business, particularly at this time when it is undergoing digitization and convergence of all production and distribution processes. These phenomena are traced to technological changes, and from here, their effects are assessed in the entire audiovisual industry and, more specifically, distribution of content.
In a comparative analysis of all the channels that were available in Spain in 2004, market growth was disclosed in numerical terms as well as complexity of the entire sector. As more digital licenses were given out in the years that followed, the trend intensified. Considering that the analogue option in the country was terminated in 2010, it is true to say that the television range remains in a state of transition.
Print Media
Tandon, S. (2010) The Future of Print News Media: Adapting to Change, Journal of Global Media Studies, 2(5), 37-42.
This research paper explores the changing dynamics of the print news media and how they are adapting to change. The structural change that has occurred over the last decade, mainly through information aggregation, transformation, and dissemination, is analyzed. Most people of the older generation are seen to prefer reading their news in the old-fashioned way, that is, in newspapers and magazines. In sharp contrast, the younger generation is obsessed with logging on to access online sources of information. A genuine concern about the likelihood of the old print news media gradually disappearing has continued to dominate the dynamics debate. In this study, Tendon (2010) highlights the American, Japanese, and Indian experiences before offering a worldwide prognosis.
A business model is adopted in determining the changes that have taken place in distribution patterns, their financial implications, and what this means for the future of print media. In Japan, for instance, the circulation figures of 2005 released by the Japan Newspaper Publishers & Editors Association indicate that the total circulation of all Japanese-published newspapers fell marginally to 52.56 million copies in 2005 from 52.58 in 1995. However, the number of subscriptions in each household has been declining steadily, recording an overall percentage decrease of 15%.
The findings were that the old (print) media establishment has been put on the defensive by the rise of new media. Rather than the new media displacing the traditional print media, it is transforming it in such a way that it offers the additional value in line with the demands of the free market which has recorded an influx of new players.
Digital Media industry
Vukanovic, Z. (2010) Global Paradigm Shift: Strategic Management of New and Digital Media in New and Digital Economics Strategic Management of Media, The International Journal on Media Management, 11(3), 81–90.
The aim of this paper was to outline and explain strategic management changes in new and digital media in today’s age of new and digital economics. The article analyzes this global paradigm shift by analyzing five successful international media conglomerates: Walter Disney Co., Time Warner, CBS Corp, News Corporation, and Bertelsmann AG. The analysis is in terms of their profit, annual revenue, stock growth, and total debt to equity. Vukanovic’s (2010) data portrays Time Warner as the global industry leader in terms of revenue, considering its revenue of $47.32 billion, ahead of Walter Disney Co., whose annual revenue is $37.84 billion.
The six factors that dominantly explain the profitable growth of these leading international media conglomerates at the macro-level include cross-media content distribution repurposing and leveraging, vertical integration, innovation management, vertical expansion, a large number of shareholders, and media diversification.
The author concludes that repurposed media content and economies of aggregation should be created and adopted for the emerging internet TV, Internet Protocol TV, and mobile TV markets. Repurposing is best done through network externalities and triple- and quadruple-play bundling strategies. The bundling of services entails marketing more than one component of a service as a single package at a special price. Triple-play bundling optimizes the process of leveraging the content’s financial gain.
Movie
Cunningham, S. (2010) Rates of change: Online distribution as disruptive technology in the film industry, Media International Australia incorporating Culture and Policy, 2(4), 119-132.
The paper focuses on the heated debate on the potential of new technologies in the distribution strategies of the movie industry, with one side being overly optimistic and the other determinedly pessimistic. This lack of consensus is a major inhibiting factor to the discipline’s claims to offer a rigorous insight into the industry and the continuous process of social change. This paper addresses the specific question of rate of change in the way movies are distributed online. The author ponders over the question of whether there are genuinely new players out to disrupt the established oligopoly. The study’s findings indicate that new players in the distribution strategy merely represent one aspect of the continuous process of social change.
Opinion: future trends and financial projections of the industry
From the analysis of the studies highlighted in the present study, the difficulty in making any future financial projections is there for all to see. This is mainly because of the unpredictable nature of sleeper financial slack as well as technological changes. Meanwhile, industry players should expect sleeper financial slack to continue possessing a stronger financial influence on the volume of new movie releases than the unpredictable financial slack.
With new trends emerging in the TV industry, major international media conglomerates such as Time Warner and Walter Disney Co. are expected to intensify competition both among each other and with new entrants into the media industry. In the print media market, the distribution level has not been falling as drastically as many observers have suggested. This is largely because print media stakeholders have been forced to make changes so as to meet the multi-faceted needs of today’s audience.
References
Cunningham, S. (2010) Rates of change: Online distribution as disruptive technology in the film industry, Media International Australia incorporating Culture and Policy, 2(4), 119-132.
Guerrero, E. Networks in the Digital Television Age: New Context, New Roles. The Case of the Spanish Industry, The Journal of Spanish Language Media, 4(2), 102-124.
Natividad, G. (2011) Financial Slack, Learning, and Competition in Movie Distribution, Social Science Research Network, 4(2), 1-46.
Tandon, S. (2010) The Future of Print News Media: Adapting to Change, Journal of Global Media Studies, 2(5), 37-42.
Vukanovic, Z. (2010) Global Paradigm Shift: Strategic Management of New and Digital Media in New and Digital Economics Strategic Management of Media, The International Journal on Media Management, 11(3), 81–90.
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