A World of Difference Week 2 Blog

The Price Water Cooper report discusses and analyses the many avenues and factors that entertainment and media companies should consider in boosting revenue growth. The article boils it down to 5 main contributors, demographics, competition, consumption, geography and business models.  Demographics focussed on the youths of today who are more prone to consume a larger amount of digital content leading towards digital spending presently and possibly in the future. New E & M companies should try to identify trends and patterns in their consumption patterns and hopefuly predict the shifts that occur in their digital behaviours. I am able to see many shifts that have occured throughout my life which directly correlate with the medium shifts discussed in the report. This ties in with consumption in which the population is favouring the ability to have bundles. All in one packages which allow greater control and influence over where, when and how they view and consume their media. But due to competition this is difficult. People enjoy having a centralised database of media, but due to exclusivity between companies this can lead to difficulties in maintaining that database; much like Netflix it is not possible to maintain a monopoly on E and M so they believe local driven content will become the future of their streaming platform. Global vs Local was tied in with geography and competition. Even though global content is garnering a larger audience and slowly homogenising itself into many countries, there is always a demand of local driven content. Australia is given as an exmaple of a developed country where local content still is dominant in the teleivions sector. This is a lesson i have learnt in my Asian Media context strain where global content is often appropriated and adapted for local taste and sometimes the remixxed product is even better than the original that the nation itself becomes synonymous with that show. The best example i can think of is MasterChef Australia which even though was originally a British show has remade the show with a different formula. Even shows like If You Are The One show the different taste in our country where there is a demand for local and global content.

Media6 MegaTrends reflection and discussion

Megatrends explores the evolution and advancement of technologies and discusses the social and economic impacts of digital trends. Technology has advanced and has changed the way in which we communicate and collaborate. The idea of a ondemand economy draws many parallels with the current media industry more so the film industry, where the labourer (film companies) outsource digital effects which are activities that have “been dissected into precise assignmetns and projects” to smaller studios where the pay is leveraged by the labourers. IN turn leading to the scenario that the articles fears in which workers move form job to job while suffering loss of labour and bargaining rights as well as job insecurity. Growing up during this industrial revolution I can see many events which have occurred theoretically in the reading. Laws made by government have to change to accommodate new technology much like how laws had to be changed when phones had cameras in order to accommodate for the upskirting incidents which were not regulated at the time. The internet has provided an access point in which physical and digital artifacts can connect such as our smartphones, tablets etc… and this technology has gone as far as integrating itself into our other utilities like watches and television. This connectedness creates a polar effect of distancing people from one another, being encapsulated or “plugged in” constantly to the point where the current generation lose out on the human touch and leaves us constantly in a frenzied state, reducing our attention span. These factors demonstrate how the improvement of technology changes the landscape of human lifestyles in the way we interact with physical and digital objects as well as relationships between consumers and labourers.