“Media production is dominated by global institutions, which sell their products and services to national audiences.” To what extent do you agree with this statement?
An institution is an established organisation which is embedded within society. It is easy to see how global institutions could be seen as dominating media production. These institutions hold a vast amount of money, which consequently gives them a large amount of power in the marketing and distribution area. An example of a global institution is Sony, who have produced and distributed many different films over the years. Because of their success they can afford to use both horizontal and vertical marketing to make their institutions’ name become recognised and by doing this it enhances their growth. However, it is possible for smaller businesses to sell their products successfully; in 2011 for example Bedlam Productions and See-Saw Films with their box office success, ‘The King’s Speech.’ , both small UK companies achieved massive success with 'The Kings Speech', proving that small national companies can reach global audiences.
Sony is considered a global institution as it owns film companies such as Columbia Pictures, it has online games, video on demand, mobile entertainment and TV channels. Sony uses all its ‘arms’ to help sell to its target audiences with horizontal marketing. Sony’s target audience is aimed mostly at adults and teenagers. ‘The Kings speech’ is a British traditional story, quite patriotic and uses famous British actors. For example ‘Helen Bonham Carter’. ‘The Kings Speech’ reached global audiences with a production budget of £15m compared to the Skyfall budget of £150-200m.
Both film companies used synergy method to distribute and sell their products. ‘The Kings Speech’ had interviews with famous actors that play characters, some of which are well know and may be role models for some people. There is a massive cost difference in the budgets of global institutions however, digital media is getting cheaper and cheaper by creating your own websites, viral marketing etc. This is a massive advantage to small companies. Small film companies also advertise films in more simple ways such as newspapers, interview with characters, Sunday Supplements that get them noticed.
The consumption of film media is changing. You don’t just have to go to the cinema, you can download film watch them on TV and audio’s on the radio. This leads to massive profit and small companies benefit largely from this.
Another point that proves the difference in domination is the opening weekend gross revenue of the films. ‘The Kings Speech’ on the opening weekend grossed at £3.52m and ‘Skyfall’ had a gross profit at the opening weekend of £20.1m worldwide. Even though ‘Skyfall’ was always guaranteed to produce lots of money, the up-to date aspects of there media could of helped them to gain even more than expected.
To conclude I believe that media production isn’t all dominated by global institutions selling their products. ‘The Kings Speech’ was highly successful and watched worldwide. However it has to be said Disney as a global company has managed to generate massive profits compared to ‘The kings Speech’ and are slightly more dominant in the media production than smaller companies.
