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The Role of Advertising in the Economics of Media

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The Role of Advertising in the Economics of Media The Role of Advertising in the Economics of Media A Case Study on a Sample of Egyptian Private Satellite Television Channels Presented at: 15th International Annual Conference Faculty of Mass Communication – Cairo University "Communication and Reform Issues in Arab Societies: Reality and Challenges" July 7 – 9, 2009 Dr. Nagwa El Gazzar Head, Faculty of Mass Communication Misr International University 0 Introduction: It is hard to define the term “Media Economics” and define the parameters of the field of study, but it is widely agreed that the field involves economic theory to explain the workings of media industries and firms. It goes much further to investigate and explain how the economic, financial and regulatory forces influence the operations of media markets and their effects on the society. The media economics field also involves inquiry that focuses on how economic factors produce the kinds of media systems found in societies, determine the ways in which media operate, affect the choices of content and reveal their implication on culture, politics and society. Such determinants are central to understanding communications systems and in formulation of national policies concerning communication (1). The field of “Media Economics” includes several interdisciplinary approaches as it is taught and researched in media and journalism schools, economics and political science departments, business schools, and social sciences in general. In conclusion, the term is employed to refer to the business and financial activities of firms operating in the various media industries. The operations of these firms are undertaken in the context of given market conditions and technological alternatives and their anticipated financial implications. Media economics is concerned with how the media industries allocate resources to create information and entertainment content to meet the needs of audiences, advertisers and other societal institutions (2). The nature of media economics environment in Egypt and the Middle East at large is rapidly changing. In the past two decades, we witness the emergence of commercialized media networks for the first time in most Arab countries. The existence of the Arab Satellite, the Nile Satellite allowed for media convergence and expansion in specialized, private and directed channels. These channels currently practice a lot of pressures over the politics of countries, and shapes public opinion on political and cultural issues. In Egypt, the media environment have witnessed the development of independent press, television channels and networks, radio stations, in addition to the continuation of state-owned media in general. Although the content nature of most media systems is entertainment and general at large, yet, it tries hard to get involved in politics through current affairs programs that discuss and analyze political and social issues in the country and the 1 world at large. Examples of such programs are: Al Asheraa Masaa, Ninty minutes and Al Beit Beitak. Across the different types of media, we can see fragmented audiences, increasing dependence on advertising, as well as innovative sources of media income as SMS messages, program sponsorship and sweepstakes. All these variables form the big picture of the recent trends in media economics of the broadcasting industry. Economic forces affect all media but the means and significance of the forces differ due to the extent that market control, bureaucratic control, and other types of control influence choices (3). Importance of the study: Most media researchers share a common interest in the workings and manifestations of economic forces and on the outcomes they produce. Media field is vibrant and compelling, therefore the explanation of media economics phenomena add understanding to why and how the media environment in which we exist is produced and how it affects a variety of social, political and cultural concerns. The development of technology and the changes they have brought to media markets – specifically the broadcasting industry-- have spurred research and interest in media economics. It is a field of inquiry that has much understanding to offer to contemporary debates about media and whose influence is growing stronger with every passing year. Review of Literature: To understand the economic dimension of the media, we need to have a broader perspective of the environment where the media operates. That’s why the literature will shed light on the following issues: first, The role media plays in the political environment of the society through the news industry, then the literature will also discuss the role of advertising in supporting the economics of media business, as well as innovative sources of income for TV networks. Since the topic of research revolve around the Television channels in specific, the literature will discuss the unique characteristics of television as a media business and will also portray global and national cases in media management. 2 News Media and Political Conflict: In all nations, business activities are undertaken within the overall structures and constraints set by society. The result is that media industries vary considerably from one country to another. The context for media firms is set by the political, social and legal environment of the society within which the business is conducted. The overall nature of a country’s political organization is clearly a fundamental factor in the determination of the media industries and business practices of media firms. The political extremes are “communist-totalitarian” and “laissez fair”(4). Although the communist system is now officially over, yet, we still see some of it’s remaining in some countries of the world, as Egypt. As Egypt witnessed the issuing of independent press, on the broadcasting sector we still can see that terrestrial channels are owned by the government, and private ownership of TV channels and networks are not allowed yet to handle news as a specialized channels or networks. The news media have become the central arena for political conflicts. It is not surprising that the role of the news media in political conflicts is an issue that has received a good deal of public attention in recent years. Policy- makers, journalists, and social scientists all point to the important role of the press – and media in general – in events such as the war in Bosnia, the conflict in Somalia, the Gulf war, and the Palestinian conflict. The discussion of the relationship between media and political conflict rests upon five basic arguments: first, the political process is more likely to have an influence on the news media than the news media are on the political process. Second, the authorities’ level of control over the political environment is a key variable that determines the role of the news media in political conflict. Third, the role of news media in political conflicts varies over time and circumstances. Fourth, for better understanding of the issue, we must incorporate the structural and cultural dimensions of the society. Finally, the news media can be used as a tool for political influence (5). The Economic Dimensions of Advertising Media: Advertising is a fundamentally economic activity. Advertisers purchase access to audiences assembled by media organizations, hoping to persuade consumers of media products to become consumers of their products as well. Economists studying the media have focused largely on the interface between media consumers and the suppliers of media products and the structures of markets for media products defined from the consumer's perspective. The perspective of advertisers, audiences is the primary 3 product of interest created by media firms. Thus, given the importance of advertising revenues to the financial health of media industries, it is somewhat focused on the economic characteristics of the audience products that media organizations sell to advertisers. (6) A growing number of scholars of mass communication have more systematically referred to economics in order to explain the phenomena of journalism, such as “market-driven journalism(7)”, or “all the news that’s fit to sell. McManus used the television industry to illustrate a model he developed in order to describe the functioning of an increasingly commercialized journalism. For him, news production is no longer determined solely by journalistic norms, but rather by self-interest of advertisers, investors, sources and media consumers, and the influence they exert on journalist. Hamilton also describes news industry as an “information good where media managers, journalists, advertisers and media consumers all have their own rational interests in the selection, production and dissemination of news. In particular, media managers and journalist not only try to answer the classic “5Ws” when selecting news, but also five economic “Ws”: who cares about a particular piece of information? What are they willing to pay to find it, where can media advertisers reach these people? When is it profitable to provide the information? Why is this profitable? Hamilton illustrates how economic considerations drive content production (8). The relevance of advertising revenues in television network business has been examined by researchers. Research in this area aim mainly at explaining the connection between the networks’ contents and the relationship that media establish between consumers preferences and advertisers using the network for connecting with their consumers. Orlando explored
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