Assess the importance of marketing in the media are you have studied
Entertainment is one of the biggest interests in media. Many think the actual production of the film is the only priority in the industry. However, there’s a tedious process to it that takes many factors into consideration. Marketing is important in media because it helps with distribution, consumption, and economic growth.
First of all, distribution plays the main role in marketing. Most filmmakers would have their own separate production company to control what gets made. Filmmakers would then propose deals with several producers with their suggested option fee. Many subsidiary companies would have the parent company release and copyright their products. This is an advantage to subsidiaries that don’t have the budget to market their own items. Having connections with popular parent companies, like Walt Disney, can help others acknowledge smaller subsidiaries as well.
Additionally, audience and production expenses are both benefitted by marketing. Comcast and NBCUniversal became a conglomerate by taking over the NBC broadcast network, television networks, film studio and theme park business. Comcast has its own cable company, an internet company, and phone service to millions of customers. Brian Roberts united with an entertainment company to distribute to their clients. AT&T did something similar by taking over Time Warner. Cross-media convergence help increase both company profits. Projects that cost above $250 million before marketing is expected to gain $1 billion globally. Marketing is vital for the cost of production. Obviously, not every project costs that much. However, the cost is subsidized by the revenue of the project.
Lastly, marketing products exponentially help with company sales. Universals several subsidiary releases gained $1.1 billion in ancillary sales and several No. 1 films of 2019. Conglomerates with many subsidiaries help place the company in the domestic market. The Despicable Me movie was promoted across Comcast’s network, making them one of the biggest animated openings which accumulated $970 million with an 80% increase from the first film in the series. Conglomerates are more successful due to the range of audience they can connect to.
In conclusion, marketing is a significant in media because of dispensation, disbursement, and financial gain. Parent companies issuing subsidiary products helps the both parties and the recognition of subsidiaries. Having a conglomerate also helps with the distribution and profit. Both of these factors drastically help with profits.
