IDEAS home Printed from https://ideas.repec.org/a/ris/statec/0100.html
   My bibliography  Save this article

Digital transformation of the global media market: in search for new media formats

Author

Listed:
  • Tomyuk, Olga N.

    (Ural State Law University named after V. F. Yakovlev)

  • Avdeeva, Olga А.

    (Ural State Law University named after V. F. Yakovlev)

Abstract

Introduction. The relevance of the study is caused by the transformation of the media market in the context of global digitalization, where traditional media are dying off and replaced by new media formats and new opportunities. Materials and Methods. In the course of the study, general and special methods of scientific knowledge were used: systemic, structural analysis, analysis and comparison of quantitative data obtained as a result of studying the media market. The study of the digital transformation of the global media market through the prism of new media formats is considered from an economic point of view. The economic approach includes consideration of resource constraints that impede the development of new media formats, assessment of their efficiency in the context of global digitalization, pandemic threats and challenges. Results and Discussion. The media market in the 21st century, with the advent of new digital technologies, is actively developing in new media formats such as blogging and podcasting. Pandemic threats and challenges have formed new global trends in the media sphere, for example, podcasts are gaining popularity in the modern world. The growing popularity of podcasts is characterized by the development of streaming platforms and podcast clients (podcast managers). The media market combines information and resource markets that are aimed at promoting media content in the modern world. The article analyzes the market components of the media business: media market regulators, the specifics of media formats, media products and advertising services in the media sphere. The value of the digital transformation of the media market is important both for consumers of media content, which is associated with the ability to meet individual needs, and for the country as a whole and companies in particular. Conclusion. The authors came to the conclusion that today the high demand for new media products, new media trends, new media formats in the modern world among users of digital media content leads to the development of the media market and media business in the context of digitalization and transformation. Podcasting as a new media format provides new opportunities for the development and existence of podcasters, listeners, advertisers and other media professionals in a market economy.

Suggested Citation

  • Tomyuk, Olga N. & Avdeeva, Olga А., 2022. "Digital transformation of the global media market: in search for new media formats," Economic Consultant, Roman I. Ostapenko, vol. 37(1), pages 16-26.
    • Handle: RePEc:ris:statec:0100
    as

    Download full text from publisher

    File URL: https://statecounsellor.files.wordpress.com/2022/03/220102.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ying Song & Octavio Escobar & Unai Arzubiaga & Alfredo De Massis, 2022. "The digital transformation of a traditional market into an entrepreneurial ecosystem," Review of Managerial Science, Springer, vol. 16(1), pages 65-88, January.
    2. Fine F. Leung & Flora F. Gu & Robert W. Palmatier, 2022. "Online influencer marketing," Journal of the Academy of Marketing Science, Springer, vol. 50(2), pages 226-251, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. De Cicco, Roberta & Iacobucci, Serena & Cannito, Loreta & Onesti, Gianni & Ceccato, Irene & Palumbo, Riccardo, 2024. "Virtual vs. human influencer: Effects on users’ perceptions and brand outcomes," Technology in Society, Elsevier, vol. 77(C).
    2. Zhou, Zhongsheng & Li, Zhuo, 2023. "Corporate digital transformation and trade credit financing," Journal of Business Research, Elsevier, vol. 160(C).
    3. Zafar, Abaid Ullah & Shahzad, Mohsin & Ashfaq, Muhammad & Shahzad, Khuram, 2023. "Forecasting impulsive consumers driven by macro-influencers posts: Intervention of followers' flow state and perceived informativeness," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    4. Andonopoulos, Vasiliki & Lee, Jenny (Jiyeon) & Mathies, Christine, 2023. "Authentic isn't always best: When inauthentic social media influencers induce positive consumer purchase intention through inspiration," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    5. Lange, Francie & Tomini, Nino & Brinkmann, Florian & Kanbach, Dominik K. & Kraus, Sascha, 2023. "Demystifying massive and rapid business scaling – An explorative study on driving factors in digital start-ups," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    6. Brüns, Jasper David & Meißner, Martin, 2024. "Do you create your content yourself? Using generative artificial intelligence for social media content creation diminishes perceived brand authenticity," Journal of Retailing and Consumer Services, Elsevier, vol. 79(C).
    7. Mangiò, Federico & Di Domenico, Giandomenico, 2022. "All that glitters is not real affiliation: How to handle affiliate marketing programs in the era of falsity," Business Horizons, Elsevier, vol. 65(6), pages 765-776.
    8. Gerrath, Maximilian H.E.E. & Olya, Hossein & Shah, Zahra & Li, Huaiyu, 2024. "Virtual influencers and pro-environmental causes: The roles of message warmth and trust in experts," Journal of Business Research, Elsevier, vol. 175(C).
    9. Shuya Lu & Ofer Mintz, 2023. "Marketing on the metaverse: Research opportunities and challenges," AMS Review, Springer;Academy of Marketing Science, vol. 13(1), pages 151-166, June.
    10. Liyanaarachchi, Gajendra & Mifsud, Matthieu & Viglia, Giampaolo, 2024. "Virtual influencers and data privacy: Introducing the multi-privacy paradox," Journal of Business Research, Elsevier, vol. 176(C).
    11. Bejjani, Melissa & Göcke, Lutz & Menter, Matthias, 2023. "Digital entrepreneurial ecosystems: A systematic literature review," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    12. Gänßle, Sophia & Budzinski, Oliver, 2023. "The economics of influencers and social media stardom," Ilmenau Economics Discussion Papers 178, Ilmenau University of Technology, Institute of Economics.
    13. McMullan, Kylie, 2023. "A checklist for managers to enhance influencer partnerships and avoid potential pitfalls," Business Horizons, Elsevier, vol. 66(4), pages 443-452.
    14. Alboqami, Hassan, 2023. "Trust me, I'm an influencer! - Causal recipes for customer trust in artificial intelligence influencers in the retail industry," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    15. Shamim, Komal & Azam, Muhammad & Islam, Tahir, 2024. "How do social media influencers induce the urge to buy impulsively? Social commerce context," Journal of Retailing and Consumer Services, Elsevier, vol. 77(C).
    16. Rosengren, Sara & Campbell, Colin & Rapp Farrell, Justine, 2024. "Tricks of the trade: Understanding and utilizing influencer tactics to improve retailer performance," Journal of Retailing and Consumer Services, Elsevier, vol. 79(C).
    17. Shuqair, Saleh & Filieri, Raffaele & Viglia, Giampaolo & Mattila, Anna S. & Costa Pinto, Diego, 2024. "Leveraging online selling through social media influencers," Journal of Business Research, Elsevier, vol. 171(C).
    18. Ha, Le Thanh, 2024. "A transition to sustainable marine living resources: Why does digital transformation matter?," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    19. Dabiran, Ehsan & Farivar, Samira & Wang, Fang & Grant, Gerald, 2024. "Virtually human: anthropomorphism in virtual influencer marketing," Journal of Retailing and Consumer Services, Elsevier, vol. 79(C).
    20. Freire de Souza, Meiry Altino & Aguilar Madeira, Maria José & Carvalho, Luísa & Filipe Alexandre, Pereira Duarte & Lurdes, Simão, 2024. "Confluence of Factors that Influence Business Model by Digitalisation and Industry 4.0 Technologies," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).

    More about this item

    Keywords

    media sphere; media market; media business; digital transformation; advertising; new media format; streaming platforms; podcast; media content;
    All these keywords.

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:statec:0100. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roman I. Ostapenko (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.