Media 6 Blog Post Week Two
Chris Lederer and Megan Brownlow – A World of Differences
A World of Differences looked into the media industry and where the potential areas of growth and opportunity are for businesses.
The rhetoric we have been hearing since the beginning of our degrees and any experience we have had with technology of how the younger generations adapt much faster to new technology was a core part of this reading. One of the biggest parts is that older consumers struggle with constantly changing technology and get left behind. So, as an entertainment and media company, the best way to keep the older demographic of consumers is to maintain some of the more traditional media sources. If you quickly throw them out in preference to online or digital media you will lose that part of your consumer base.
Different media and entertainment companies based in various countries will have to think of the demographic of the country they are in. As the reading looked at, Pakistan is completely different to Australia. Because in Pakistan 70% of the population is under 35, whereas in Australia there is a much older demographic who are all still consumers. In Pakistan the growth of E&M will be a lot higher, whereas, in Australia, the growth will be a lot slower due to the differences in consumption of media. In Australia, there is also a high preference to watch local content over global content, this is also the case in countries like India, Nigeria and China where they have big movie production businesses.
This International business perspective in terms of the entertainment and media industry is very helpful to me as I hope to work in this industry overseas.