UNIT-3

1. Establishing Media organization or Start Up: Steps Involved

Ans: Planning, Budget, Finding Target Audience, Appropriate Media Venture, Research (Pre &
Post field Research), Contact for revenue generation, Recruitment, Direction, Implementation.

https://startuptalky.com/start-media-company/

https://www.inc.com/young-entrepreneur-council/how-to-turn-your-business-into-a-media-company-and-
why-you-should.html

https://www.process.st/start-a-media-company/

2. Human Resource Management: Roles and Responsibilities

https://www.slideshare.net/CreativeHRM/role-of-hr-manager
https://www.slideshare.net/wicaksana/basic-human-resource-management
https://www.slideshare.net/GUMBHIR/human-resource-management-2550853
Human Resource Management (HRM) is the term used to describe formal systems
devised for the management of people within an organization. The responsibilities of a
human resource manager fall into three major areas: staffing, employee compensation
and benefits, and defining/designing work. Essentially, the purpose of HRM is to
maximize the productivity of an organization by optimizing the effectiveness of its
employees. This mandate is unlikely to change in any fundamental way, despite the ever-
increasing pace of change in the business world. As Edward L. Gubman observed in the
Journal of Business Strategy, "the basic mission of human resources will always be to
acquire, develop, and retain talent; align the workforce with the business; and be an
excellent contributor to the business. Those three challenges will never change."

Until fairly recently, an organization's human resources department was often consigned
to lower rungs of the corporate hierarchy, despite the fact that its mandate is to replenish
and nourish what is often cited-;legitimately-;as an organization's greatest resource, it's
work force. But in recent years recognition of the importance of human resources
management to a company's overall health has grown dramatically. This recognition of
the importance of HRM extends to small businesses, for while they do not generally have
the same volume of human resources requirements as do larger organizations, they too
face personnel management issues that can have a decisive impact on business health. As
Irving Burstiner commented in The Small Business Handbook, "Hiring the right
people-;and training them well-;can often mean the difference between scratching out the
barest of livelihoods and steady business growth'¦. Personnel problems do not
 discriminate between small and big business. You find them in all businesses, regardless
of size."
The seven HR basics
 Recruitment & selection.
 Performance management.
 Learning & development.
 Succession planning.
 Compensation and benefits.
 Human Resources Information Systems.
 HR data and analytics.

3. Methods of Revenue Generation by Media Organizations and Start Ups

Revenue generation is complete amount of money that is generated during a specific time
period. The money is used to calculate business profits. Media houses make their money
through direct payment and indirect payment. Direct payment is the money a consumer
pays the media house in exchange for a good or service. This would be the payment from
the consumer for a newspaper, paying to call into a radio station or paying to receive
cable. Subscriptions are also another form of direct payment. In this instance the
customer would pay the company, normally a magazine or a comic book a set fee of
money under a contracted time and receive weekly or monthly issues. Indirect payment is
money companies earn outside of what the consumer pays for. Companies use their
platforms to place advertisements and direct payment by politicians for advertisement
amongst their content for consumers. One of the most important aspects of media is the
fact that the media industry is just that: an industry. Most media producers and outlets are
commercial in nature, with the main objective of making money. There are several
methods or "revenue models" that media companies use to make money. The four most
common revenue models are discussed below.
Advertising
Advertising is the most common of all revenue models in traditional media and online.
TV shows, newspapers, and websites offer their content (programming, news stories,
etc.) at no charge (or at a low price) in order to attract a large audience. Advertisers
wanting to promote the products they're selling pay the media outlets, who in turn place
ads in between their content for the audience to experience. Advertising is most
commonly used in media outlets that 1) can't cover their entire costs just by selling their
content (like newspapers and magazines), and 2) would have little to no audience if they
charged (or charged more) for their product. For example, a newspaper would never sell
at $5 per copy, and you wouldn't pay $30 for a movie ticket, so advertising is there to
subsidize the cost.
Subscription
Subscriptions are great for media types that are continually being updated - think a
newspaper, a magazine, or cable TV - or have some kind of ongoing value - think
websites like LinkedIn or informational databases. Subscriptions are popular with media
companies because they provide steady revenues over time. This revenue model doesn't
work with media considered a commodity - something you can get elsewhere for little to
no cost. An example of a media commodity is news - you can get it all over the web, so
paying for a subscription to a news website means that site should provide significant
value beyond the common news found elsewhere. The Economist and the Wall Street
Journal are examples of news websites that offer significant value beyond what you
might find for free on Google News.
Pay-per-item
The pay-per-item model works for media types that come in an individual package, offer
no ongoing value, and are sustained through sales alone. An example of this is a pay per
view movie on cable, a movie ticket at your local theater, or a CD or DVD.
Merchandising
Media companies use merchandising as a secondary, or ancillary, income. This is popular
with recognizable media franchises whose fan base would want to purchase related items.
An example might be the merchandising efforts of a company like Disney, which
produces and sells merchandise for all of it's big-budget movies and TV shows. Many
times, merchandising efforts earn more income than the media product it references. For
example, the original Star Wars movies earned more income through merchandising than
through ticket sales.
https://ijnet.org/en/story/12-ways-digital-news-organizations-can-generate-revenue
 4. Managing Cost and Revenue Relationship
https://www.marketingevolution.com/marketing-essentials/media-planning
https://www.bain.com/client-results/media-company-reduces-creative-costs/
What Is Cost of Revenue?
The term cost of revenue refers to the total cost of manufacturing and delivering a
product or service to consumers. Cost of revenue information is found in a company's
income statement. It is designed to represent the direct costs associated with the goods
and services the company provides. The service industry often favors using the cost of
revenue metric because it is a more comprehensive account of the various costs
associated with selling a good or service.
An old mentor always used to say, “prior planning prevents p!$$ poor performance!”
Planning a media budget is one of the first steps in creating an effective marketing
campaign. It is a critical component to ensure that your media placements align with
business objectives, and it ensures that marketing investments are allocated in ways that
create the most value for a brand. It’s also vital to make sure the accounting department
isn’t caught off-guard! Often, however, marketing budgets are not planned in detail, and
as a result, the campaign falls flat.
COST addressing Areas in Media Organization: License and Registration for all set-
ups.
Print Media: Content Creation (Information Source, Editing, Photo Journalism, Proof
Reading Etc.), Printing and Publishing, Circulation, Sales and Marketing, Research,
Organizational Set-up, Employee’s Salary and perks, Security Amount, Miscellaneous.
Electronic Media: Content Creation, Distribution and Broadcasting, Equipment Set-up
and Management, Sales and Marketing, Research, Organizational Set-up, Employee’s
Salary and perks, Security Amount, Miscellaneous.
Digital Media: Content Creation, Employee’s Salary and perks, Broadcasting,
Equipment Set-up and Management, Sales and Promotion, Research, Security.
https://saylordotorg.github.io/text_understanding-media-and-culture-an-introduction-to-mass-
communication/s16-economics-of-mass-media.html
https://monetizingmedia.com/business-models-for-media-companies/

UNIT-4
1. Marketing Media Products:
Media products usually comprise two components: a nonmaterial element
(journalistic, fiction, persuasive, etc., called content) and a material element
(whereby the content is distributed and made accessible to consumers, typically
referred to as a platform). While both components function in tandem in the
market as regards meeting needs, consumer demand is primarily linked to content;
the role of communication or transmission platforms is secondary in this regard,
although they may be crucial to such concerns as accessibility.
Hence, the distinguishing feature of media products as such is their capacity to
meet the needs and satisfy the desires of potential consumers by providing
information, persuasive communication, and entertainment contents. The material
elements can influence what kinds of content can be offered and what demand can
be fulfilled, but they do not create a demand per se that would be independent
from the contents.
Based on this premise, the distinctive nature of media contents may be defined in
relation to a set of key concepts that distinguish such contents from other
products. On the one hand, these characteristics relate to the status of media
products as economic goods, and on the other, such features stem from the special
social and cultural significance of media products. media products as economic
goods made available in the media market, wherein the management of such products is
based on their distinctive nature. Thereafter, the conditions that shape innovation and the
production of high-quality contents are explored. Finally, the relationship between
contents and target audiences is analyzed because the latter are imbricated (arranged in
an overlapping structure) in content management, and this is characteristic of such
products from their very beginning.
https://www.researchgate.net/publication/
292354612_Contents_as_Products_in_Media_Markets
PPT Attached too.

2. Media Business: Innovation and Entrepreneurship

Business innovation is when an organisation introduces new processes, services,
or products to affect positive change in their business. ... Ultimately the goal is to
reinvigorate a business, creating new value and boosting growth and/or
productivity.
PDF Attached.
An Innovator doesn’t have to be an Entrepreneur, but an Entrepreneur must be an
Innovator. Several Innovators have introduced different tools which eventually
got adopted by Media Industry as their Media Tools/Channels. Such as Marconi
innovated Radio, and Media Industry took an opportunity to use the innovation in
the Media Purpose. Such as

Innovator Media Entrepreneurs

goldsmith Johannes Gutenberg  Johann Carolus 
Guglielmo Marconi Detroit, Michigan Station
JL Baired News/TV Industry
3. Media Entrepreneurship and Its Challenges:
  Content Authenticity,

 Increasing Competition with Non-Media Sources.

 Source Reliability

 Lack of Media Literacy

 Paid News

 Digital Divide

 Yellow Journalism

 Invasion of Social Media Application

 Timeliness in one-click share Era.

 Misinformation/Disinformation/Malinformation Monitoring

Maharat’s “Fake News and Media Viability” conference brought together journalists,
editors, media experts and media agencies from all over the world. Held in partnership
with DW Akademie, the event, which took place between April 24 – 26 in Beirut,
covered several subjects, such as the definition of fake news and how to fight it and the
meaning of a “post-truth world”. But perhaps one of the most important sessions held
was the “Challenges of Media Startups” session, which dealt with the viability of media
startups and the struggles they face daily to keep afloat. How do they generate their
content and who do they generate it for? Is there a steady stream of revenue? Was
switching from journalism mode to business mode a challenge? These were some of the
questions asked by session moderator, and Executive Director of Maharat Foundation,
Roula Mikhael.

And the answers proved to be the following:

You have to figure out if there’s a need for content “As content strategists we figured out,
that, even in today’s flood of news, professional business people need to gain better
access to news, and they should be willing to pay, ” Ranjan Roy, founder and CEO of
The Edge Group, a content strategy firm that services consulting firms and think tanks,
said. But getting there was a challenge, Roy, who now heads a team of 10, added. They
had to figure out which business model worked best for them: free content with ads was
not a sustainable revenue stream, nor was paid membership. “People are willing to pay $5
for a cup of coffee from Starbucks, but if you ask them to pay for news then forget it,”
Roy joked. After much experimenting, The Edge Group now produces content for think
tanks and consulting firms who have old data they want to distribute online. “There are
also these companies who need us to create content on a daily basis like a newsletter or a
blog post, and this revenue is predictable,” said Roy. “But it took us a while to get here.”
Final advice here is: don’t be afraid to raise your expectations when it comes to income;
sometimes companies are willing to pay because they recognize their need for your
services. This brings us to the second piece of advice: diversify your revenue. Cristina
Tardáguila, director of Brazilian fact-checking agency Lupa, decided she had to find
other streams of revenue if she wanted to grow her team. “We decided to add a new
revenue side, which is selling content to influential newspapers, websites and
magazines,” she said. “We also hold workshops to train people how to fact check. We
started with journalists only, and then we decided to expand to other readers who read our
website.” Lupa has so far given training to over 3000 individuals in 20 cities. These
workshops have begun a steady stream of revenue. “We started with four team members
only in 2015, and now we are 15 members,” she said. But Lupa is not the only media
outlet giving workshops. Closer to home, Egyption newspaper Mada Masr relies on
trainings and editorial services, as well as memberships, to fund their business. Don’t be
afraid to stand up to the big guys. Sometimes good journalism could rise from political or
cultural conflict. German journalist, Christian Gesellmann, writes for Krautreporter, the
first crowdfunded online newspaper in Germany, founded back in 2014. The story of this
outlet is interesting. It goes like this: various segments of citizens were starting to feel
underrepresented in the German media, which was dominated by “white, male,
conservative” people, Gesellmann said. And when the refugee crisis hit the country, the
media producers and newspapers were also supportive of all politicians, which was not
the case with the people. “So we decided to start crowdfunding a project for the fairness
of journalism in 2014 and we raised about a 1,000,000 euros,” Gesellmann, who still
works for Krautreporter, said. “People need to feel represented,” he added.

4. Emerging Trends in Media and Entertainment Industry

https://www.analyticsinsight.net/digital-technology-trends-of-media-and-
entertainment-in-2021/

https://www.nagarro.com/en/blog/emerging-trends-shaping-future-media-indust
 https://www.ey.com/en_us/tmt/five-media-entertainment-industry-trends-to-
watch-in-2021

Entertainment Industry: Augmented Reality & Virtual Reality, Gaming,

Introduction of Artificial Intelligence in Interest Measurement &
Recommendation section, also for Viewership/Readership Measurement, OTT
Platforms etc.

Media Industry: Digital News Sources, Message Dissemination Sources,

Increasing platforms, Digital Campaigns, Digital Research, Virtual Platforms etc.

1. Immersive viewing experience with viewer participation

2. Augmented and virtual reality
3. Applications in education and dissemination of knowledge
4. Experience in amusement parks, museums and entertainment hubs
5. Video streaming
6. Ad-supported video
7. 3D viewing
8. Ephemeral content
9. Channels feeding off others - like TV creating shows based on analysis of viral social
media posts.