This document discusses media economics and how different players interact in the media industry. It describes the media industry as a game with consumers, advertisers, and media companies as the main players, each with their own goals. The goal is to maximize value exchange, though each player's definition of value differs. There is conflict between players due to differing goals and limited resources. Media companies try to maximize profits by increasing revenue streams, constructing audiences, and reducing risk, while consumers generally default to following the media but can also adopt media literacy strategies.

1. 07 -MediaEconomics They’re after my brain & my wallet!

2. Class Business Announcements Henry Jenkins (Friday September 30, 12:30PM-1:45PM in RTV 180) #IUT205 Exam 1: 09/27 Assignment 1: 10/13

3. Last time on T205

4. Pop Quiz Results Pop Quiz 01 108 or 88.5% Participants 82 or 67.2% Perfect Scores Pop Quiz 02 98 or 80.3% Participants 40 or 32.8% Perfect Scores Decrease in almost 35% in Perfect Scores

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6. How are mediums created?

7. Are there patterns?

8. Stages of Media Development

10. Zombification?

11. CD

13. MediaEconomics

14. The Game

15. Game Characteristics

16. Media Industries Strategies

17. Consumer Strategies

18. Student Media

19. Perfect Storm consumers High Level of Free Time + High Level Of Disposable Income + Low Responsibilities + High Social Interaction

20. Media Economics Game Players Goal Rules

21. Players

22. Consumers Resources Game Depends on Consumers Illusion of Control No Social Structure Can’t Leave The Game

24. Advertisers

25. Media Companies Money Message Audience Costs Low Pay For Talent

26. Media Employees Talent Time

27. Goal

28. Maximize Value Exchange

29. Different players have different goals Utility Enjoyment Money Attention Fame Connection

30. No Loser No Winner No Exit

32. Conflicting Players Conflicting Goals

33. Rules

34. Resources +Willingness to play

35. Regulations?

36. Game Characteristics

37. Importance of valuing resources well

38. Indirect as well as direct support

39. Complex interdependency among players Negotiations Highly dynamic Cross-purposes Different Markets

40. Nature of competition Limited Resources Profits Attract Competition Indistinguishable Messages

41. Advertising as the engine

42. Media Industries Strategies

43. Maximize Profits RORevenues& ROAssets

44. Increasing Revenue Streams

45. Minimizing Expenses

46. Constructing Audiences

47. Attracting People to Niches& Conditioning Audiences

48. Reducing Risk

49. Consumer Strategies

50. Default Strategy

51. Media Literacy Strategy

52. Media Economics GamePlayersGoalRules

53. Game CharacteristicsImportance of valuing resources wellIndirect as well as direct supportComplex interdependency among playersNature of competitionAdvertising as the engine

54. Media Industries StrategiesMaximizing ProfitsConstructing AudiencesReducing Risk

55. Consumer StrategiesDefaultMedia Literacy

56. Current State of MediaCh. 8