Savannah Necker, Digital Media Management, UR#2, March 9th of 2018
The media industry has drastically changed over the past few decades, where opportunities of growth and success is occuring for various media companies. However, with the fast pace of changes within the industry also means different ways of going about business in order to ensure its longevity. These changes have also caused a transitional period for the television industry as we once knew it. This shift is calling on various media leaders in the television sector to make creative, managerial, and strategic decisions in transitional times where media content, the economics of the industry, and the global media market are in flux. Over the past few weeks, our class has learned …show more content…
Due to its expansive growth, the company faces ways to improve it in every country it provides services to. Some of these improvements include the concept of Hermes, which helps recruit foreign talent for dubbed content, having broad themes and characters to resonate with people from various backgrounds, and brand resonance which can be exemplified through their venture with Marvel (LaPorte, p.1). Netflix also has to be picky with casting and encourages producers of shows to “think globally”, not just about the top 5 hottest actors in the states. Netflix is also increasing the budget to offer more content in various countries. In European countries alone, they are spending $2 billion in productions, co-productions, and licensed programming (Meza, p.5). They currently have over 90 productions in development and 13 languages, soon to be adding Romanian and Greek to that list. Dubbing has also been extremely beneficial to Netflix series, such as Stranger Things. This is one of the main reasons the series has done so well on a global level. However, with dubbing, comes a lot of challenges such as the fact there are thousands of languages meaning different key names, phrases, and slang (Barrett, p. …show more content…
Due to these large budgets in the streaming world, it is changing the financial rules for traditional TV players, as costs are soaring for everything from location scouting to renting equipment. In order to keep up with streaming platforms, they feel forced to spend big and fear that if they don’t, their viewership will decline and ultimately force them out of business. An average of a production budget for high-end cable and streaming dramas at $5-$7 million an hour, with half-hours averaging at about $1.5-$3 million (Ryan & Littleton, p. 9). Netflix, however, often exceeds these numbers at $10 million per episode. Cindy Holland, vice president of original content for Netflix, views this shift in a more positive light stating, “TV is no longer like we knew it, but we’re seeing a lot of really interesting evolution happening,” she says. “It’s opening the door to more diversity and progress. And yes, there are going to be some failures here and there. But more often than not, the long-term trend is going to [be toward] really exciting changes in the industry and a flowering of creative
The media industry has drastically changed over the past few decades, where opportunities of growth and success is occuring for various media companies. However, with the fast pace of changes within the industry also means different ways of going about business in order to ensure its longevity. These changes have also caused a transitional period for the television industry as we once knew it. This shift is calling on various media leaders in the television sector to make creative, managerial, and strategic decisions in transitional times where media content, the economics of the industry, and the global media market are in flux. Over the past few weeks, our class has learned …show more content…
Due to its expansive growth, the company faces ways to improve it in every country it provides services to. Some of these improvements include the concept of Hermes, which helps recruit foreign talent for dubbed content, having broad themes and characters to resonate with people from various backgrounds, and brand resonance which can be exemplified through their venture with Marvel (LaPorte, p.1). Netflix also has to be picky with casting and encourages producers of shows to “think globally”, not just about the top 5 hottest actors in the states. Netflix is also increasing the budget to offer more content in various countries. In European countries alone, they are spending $2 billion in productions, co-productions, and licensed programming (Meza, p.5). They currently have over 90 productions in development and 13 languages, soon to be adding Romanian and Greek to that list. Dubbing has also been extremely beneficial to Netflix series, such as Stranger Things. This is one of the main reasons the series has done so well on a global level. However, with dubbing, comes a lot of challenges such as the fact there are thousands of languages meaning different key names, phrases, and slang (Barrett, p. …show more content…
Due to these large budgets in the streaming world, it is changing the financial rules for traditional TV players, as costs are soaring for everything from location scouting to renting equipment. In order to keep up with streaming platforms, they feel forced to spend big and fear that if they don’t, their viewership will decline and ultimately force them out of business. An average of a production budget for high-end cable and streaming dramas at $5-$7 million an hour, with half-hours averaging at about $1.5-$3 million (Ryan & Littleton, p. 9). Netflix, however, often exceeds these numbers at $10 million per episode. Cindy Holland, vice president of original content for Netflix, views this shift in a more positive light stating, “TV is no longer like we knew it, but we’re seeing a lot of really interesting evolution happening,” she says. “It’s opening the door to more diversity and progress. And yes, there are going to be some failures here and there. But more often than not, the long-term trend is going to [be toward] really exciting changes in the industry and a flowering of creative