Friday, February 3, 2012

Adapt or Die: Media Industries Need to Evolve with New Technologies

Media industries both depend on and fear technology shifts according to Haven's and Lotz's.  In Curtin's "Matrix Media," she explains how the development of the media matrix has created a need for media industries specifically television broadcasting to adapt and incorporate new technologies.  A prime example of this adapt to survive system that has evolved from the advent of new media technologies such as blogging and social networks is Curtin's example of Bravo's successful multi platform integrated system with shows such as top chef.  This NBC Company was so successful in maintaining advertising dollars because of their willingness to adapt to the new technologies instead of standing against them.  They were also able to best competitors, regardless of the dropping ratings for their prime time line up, because they used new technology to gain an edge on the rest of the market and offer 360 approach to reaching viewers that they could sell to advertisers.  Multi-platform and cross-promotional operations by television networks are an essential part of the matrix system.  
Those, like NBC, that are able to adapt and expand their operations into new technological platforms are set up for success in this newer matrix system, and those who do not are setting themselves up for failure.  A main reason media industries fear technology shifts though is because it bring the industry temporarily into the unknown, and allows there to be more potential more competitors in the media services industry with a new form of technology.  This creates a situation in which the major media industries feel threatened by the competition, and is one of the reasons that they fear new technologies until they are able to gain dominant control and understanding of them.

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