The use of three-sided market models in media industry strategizing

Abstract

Abstract. Digitalization and mediatization have significantly amplified the impact of the global information context on the world economy. This influence is carried out mainly through the information background and through advertising, connecting media and other industries and thus determining the inevitability of considering such a connection when solving any strategic problem. Advertising market models proposed in the existing literature rarely consider media as industry subjects with own strategic goals and objectives. And the two-sided market models do not consider simultaneous consumption of economic goods and media content by the audience and the production nature of the problems solved by industrial firms. In this paper, we propose a methodology for constructing models of a new type, which includes three types of participants — consumers, media firms and manufacturing firms. In the proposed methodology, a model of the simplest three-sided market is built, in accordance with which questions of existence and properties of equilibrium are discussed. The analysis of the proposed model is a separate stage in the study of intersectoral interaction within the framework of solving media strategic problems. At the enterprise level the proposed model allows to predict the long-term strategies of competitors. At the industrial level of strategy development, the model makes it possible to build key performance indexes that determine the strategic industry priorities on the basis of the three-sided market (welfare, production volumes, actual structure of submarkets).