Very Important Final Paper-7pages

MEDIA  AND  ENTERTAINMENT

10.2  INTS  2370

Hyperreality?

Big  Media

• Public  good,  political  aparatus,  or  private  commodity? • US  consolidation:  Time  Warner,  Disney,  Viacom  (CBS  Corporation),  News  

Corporation,  Bertelsmann • Profitability  follows  the  VC  model:  few  successes  but  those  that  do  provide  

outsized  returns • Tech  shift:  cost  containment  for  legacy  media • Overlap  with  ICT:  Comcast/  NBC  Universal • Dan  Rather:  the  ‘Hollywoodization of  the  news” • Media  control  and  political  power:  Berlusconi,  Bloomberg,  Murdoch,  but  still  

profits  first • Is  competition  related  to  diversity?

Why  it’s  Good  to  be  a  “Tech  Company”

Globalization  of  Entertainment

• “It’s  no  longer  enough  to  insert  ethnic  actors  into  big-­‐budget   movies.”

• “The  U.S.  film  industry  has  been  the  largest  and  most  important   exporter  of  Western  values  and  American  influence.”

• “…the  most  successful  studios  will  be  those  that  can  incorporate   their  home  country’s  values  and  cultural  identity,  while  adding   subtle  nuances  to  appeal  to  broader  markets.”

-­‐ Richard  L.  Gelfond,  Chief  Executive  of  IMAX  Corporation