Abstract
The advent of new technologies, such as portative computers and the internet, favoured the formation and development of a new market — digital media market. In the past 15 years technologies have grown exponentially within media and entertainment, fundamentally affecting film, television, publishing, music and video games industries with new competition, innovative business models and new product landscapes. Thus, the digital media market, with its disruptive influence and growth potential, requires the comprehensive explanation and definition. The article raises a problem of digital media market lacking its clear conceptualization in the context of the world economy. The article provides a thorough analysis of existing researches of the digital media market and the overview of its place in the modern industry classifications. The authors enunciate their own up-to-date definition of digital media, which is the following: “Digital media refer to products and services in the digital format, produced by the media and entertainment industry group (according to The Global Industry Classification Standard), which can be created, viewed, distributed, modified and preserved through different digital devices.” The following structure of the modern digital media market was compiled: it consists of 7 segments, namely video-on-demand, video games, e-publishing, digital audio, social media, search engines and digital advertising.
Highlights
Until the 1990’s, media existed primarily in the print and analogue formats, such as radio and television
The article provides a thorough analysis of existing researches of the digital media market and the overview of its place in the modern industry classifications. The authors enunciate their own up-to-date definition of digital media, which is the following: “Digital media refer to products and services in the digital format, produced by the media and entertainment industry group, which can be created, viewed, Actual problems of international relations
In view of the aforesaid, the digital media market, with its transformative power and growth potential, requires comprehensive explanation and definition, because the more we go in depth, the more we discover that the digital media market lacks its clear conceptualization in the context of the world economy
Summary
Until the 1990’s, media existed primarily in the print and analogue formats, such as radio and television. Radio and television, digital media facilitated the transmission of their content to global audiences In recent years, this transterritorial quality has been somewhat diminished for legal reasons, as restrictions on publishing rights have proliferated, namely in relation to certain content such as sports videos, audiovisual fiction series and other similar content. “Products and services that come from the media, entertainment and information industry and its subsectors It includes digital platforms (e.g. websites and applications), digitized content (e.g. text, audio, video and images) and services (e.g. information, entertainment and communication) that can be accessed and consumed through different digital devices.”. After digital media is encoded, it can be manipulated, distributed, and played by computers, and it is transmitted over computer networks.” “(Usually used with a singular verb) video, audio, software, or other content that is created, edited, stored, or accessed in digital form, through numeric encoding and decoding of data.”. A distinction can be made between media which are based on encoded physical qualities such as light or sound waves through the re-encoding of analogue information (e.g. with digital cameras or digital sound equipment), and media which are based on the reencoding of previously encoded cultural forms such as such as writing, mathematics, linear perspective, or the Cartesian coordinate system that is used to represent physical space in virtual reality applications.”
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