The Economics of the Audiovisual Industry: Financing TV, Film and Web PDF Download
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Author: Mario La Torre
Publisher: Springer
ISBN: 1137378476
Category : Art
Languages : en
Pages : 311
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Book Description
This book is open access under a CC BY licence. Recent reductions in public funding for audiovisual products have led to dramatic changes in the industry. The lack of interaction between the industry and capital markets has made sourcing funds for audiovisual products especially difficult. This book explains why the distance between the audiovisual and financial markets exists, and considers the perspective of both audiovisual companies and financial intermediaries. Providing a thorough overview of the audiovisual industry in three major categories (television, cinema and web), it analyses the financing behind each. The author adapts the traditional assessment methods to include exploitation rights, distribution deals and risk determinants ; he also proposes a pricing model for the audiovisual products demonstrating that prices and values in a industry of prototype goods do not depend solely on cost and revenue. The book also includes a methodology for analysing the economics of the sector, the different sales agreements between broadcasters and the distribution deals between distributors and independent producers. Finally, a description of the main financial products for private finance is provided, as well as an explanation of how public funds can act as leverage to catalyze private resources through the use of guarantee funds. In The Economics of the Audiovisual Industry the author suggests that rather than relying on subsidized public support, the audiovisual industry should foster private-public partnerships and market dynamics to promote an alternative funding model based on a profitable and long-lasting connection between the audiovisual and financial markets. The valuation model, both for products and firms, proposed in this book are at the basis of this new approach.
Author: Mario La Torre
Publisher: Springer
ISBN: 1137378476
Category : Art
Languages : en
Pages : 311
Get Book Here
Book Description
This book is open access under a CC BY licence. Recent reductions in public funding for audiovisual products have led to dramatic changes in the industry. The lack of interaction between the industry and capital markets has made sourcing funds for audiovisual products especially difficult. This book explains why the distance between the audiovisual and financial markets exists, and considers the perspective of both audiovisual companies and financial intermediaries. Providing a thorough overview of the audiovisual industry in three major categories (television, cinema and web), it analyses the financing behind each. The author adapts the traditional assessment methods to include exploitation rights, distribution deals and risk determinants ; he also proposes a pricing model for the audiovisual products demonstrating that prices and values in a industry of prototype goods do not depend solely on cost and revenue. The book also includes a methodology for analysing the economics of the sector, the different sales agreements between broadcasters and the distribution deals between distributors and independent producers. Finally, a description of the main financial products for private finance is provided, as well as an explanation of how public funds can act as leverage to catalyze private resources through the use of guarantee funds. In The Economics of the Audiovisual Industry the author suggests that rather than relying on subsidized public support, the audiovisual industry should foster private-public partnerships and market dynamics to promote an alternative funding model based on a profitable and long-lasting connection between the audiovisual and financial markets. The valuation model, both for products and firms, proposed in this book are at the basis of this new approach.
Author: Mario La Torre
Publisher: Springer
ISBN: 1137378476
Category : Art
Languages : en
Pages : 204
Get Book Here
Book Description
This book is open access under a CC BY licence. Recent reductions in public funding for audiovisual products have led to dramatic changes in the industry. The lack of interaction between the industry and capital markets has made sourcing funds for audiovisual products especially difficult. This book explains why the distance between the audiovisual and financial markets exists, and considers the perspective of both audiovisual companies and financial intermediaries. Providing a thorough overview of the audiovisual industry in three major categories (television, cinema and web), it analyses the financing behind each. The author adapts the traditional assessment methods to include exploitation rights, distribution deals and risk determinants ; he also proposes a pricing model for the audiovisual products demonstrating that prices and values in a industry of prototype goods do not depend solely on cost and revenue. The book also includes a methodology for analysing the economics of the sector, the different sales agreements between broadcasters and the distribution deals between distributors and independent producers. Finally, a description of the main financial products for private finance is provided, as well as an explanation of how public funds can act as leverage to catalyze private resources through the use of guarantee funds. In The Economics of the Audiovisual Industry the author suggests that rather than relying on subsidized public support, the audiovisual industry should foster private-public partnerships and market dynamics to promote an alternative funding model based on a profitable and long-lasting connection between the audiovisual and financial markets. The valuation model, both for products and firms, proposed in this book are at the basis of this new approach.
Author: M. La Torre
Publisher: Palgrave Macmillan
ISBN: 9781137525925
Category : Art
Languages : en
Pages : 191
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Book Description
This book is open access under a CC BY licence. This book provides a thorough overview of the financing behind the audiovisual industry, including television, cinema and web.
Author: Mario La Torre
Publisher:
ISBN: 9781013285738
Category : Business & Economics
Languages : en
Pages : 202
Get Book Here
Book Description
This book is open access under a CC BY licence. Recent reductions in public funding for audiovisual products have led to dramatic changes in the industry. The lack of interaction between the industry and capital markets has made sourcing funds for audiovisual products especially difficult.This book explains why the distance between the audiovisual and financial markets exists, and considers the perspective of both audiovisual companies and financial intermediaries. Providing a thorough overview of the audiovisual industry in three major categories (television, cinema and web), it analyses the financing behind each. The author adapts the traditional assessment methods to include exploitation rights, distribution deals and risk determinants; he also proposes a pricing model for the audiovisual products demonstrating that prices and values in a industry of prototype goods do not depend solely on cost and revenue. The book also includes a methodology for analysing the economics of the sector, the different sales agreements between broadcasters and the distribution deals between distributors and independent producers. Finally, a description of the main financial products for private finance is provided, as well as an explanation of how public funds can act as leverage to catalyze private resources through the use of guarantee funds. In The Economics of the Audiovisual Industry the author suggests that rather than relying on subsidized public support, the audiovisual industry should foster private-public partnerships and market dynamics to promote an alternative funding model based on a profitable and long-lasting connection between the audiovisual and financial markets. The valuation model, both for products and firms, proposed in this book are at the basis of this new approach. This work was published by Saint Philip Street Press pursuant to a Creative Commons license permitting commercial use. All rights not granted by the work's license are retained by the author or authors.
Author: Paul Clemens Murschetz
Publisher: Springer
ISBN: 3319717162
Category : Business & Economics
Languages : en
Pages : 675
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Book Description
This book is an analysis of the specificities of public film funding on an international scale. It shows how public funding schemes add value to film-making and other audio-visual productions and provides a comprehensive analysis of today’s global challenges in the film industry such as industry change, digital transformation, and shifting audience tastes. Based on insights from fields such as cultural economics, media economics, media management and media governance studies, the authors illustrate how public spending shapes the financial fitness of national and international film industries. This highly informative book will help both scholars and practitioners in the film industry to understand the complexity of issues and the requirements necessary to preserve the social benefits of film as an important cultural good.
Author: Cuntz, Alexander
Publisher: WIPO
ISBN:
Category : Law
Languages : en
Pages : 72
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Book Description
This research summarizes the basic economics of film finance and standard practices in the U.S. movie industry. It shows how risk and uncertainty around new film finance are managed by the private sector and what market-based solutions have been developed to mitigate risk in the sector. Based on a series of expert interviews and exploratory data analysis, the research presents the most common types of financial deals on the ground and reoccurring funding practices for new film production and distribution in the past twenty years, including a discussion of most recent trends and digital changes in the sector. In particular, the research highlights the prominent role of intellectual property (IP) in financial transactions of the movie industry and it discusses policy options in the U.S. and beyond to better leverage IP assets for financing purposes.
Author: Michael Franklin
Publisher: Taylor & Francis
ISBN: 1000618072
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
This book explores the complex, multifaceted and contested subject of risk in the film business. How risk is understood and managed has a substantial impact upon which films are financed, produced and seen. Founded on substantial original research accessing the highest level of industry practitioners, this book examines the intertwined activity of independents, large media companies including major studios, the international marketplace, and related audio-visual sectors such as high-end television. The book shows how risk is generally framed, or even intuited, rather than calculated, and that this process occurs across a sliding scale of formality. This work goes beyond broad creative industries characterisations of a "risky sector" and concentrations on Box Office return modelling, to provide a missing middle. This means a coherent analytic coverage of business organisation and project construction to address the complex practicalities that mobilise strategic operations in relation to risk, often in unseen business-to-business contexts. Informed by economic sociology’s concepts addressing market assemblage and valuation, alongside applications of science and technology studies to media and communications, the book respects both the powerful roles of social and institutional actors, and affordances of new technologies in dealing with the persistent known unknown – the audience. Examining a persistent business issue in a new way, this book analyses top level industry practice through established mechanisms, and innovations like data analytics. The result is a book that will be essential reading for scholars with an interest in the film business as well as risk management more broadly.
Author: Sally Broughton Micova
Publisher: Centre on Regulation in Europe asbl (CERRE)
ISBN:
Category : Political Science
Languages : en
Pages : 111
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Book Description
This report contributes to policy debates by providing evidence on the dynamics of markets for audiovisual advertising in which both audiovisual media services (AVMSs) and video sharing platforms (VSPs) are operating. It addresses the following questions: - To what extent are audiovisual media services and VSPs competing in the same markets as comparable services? - What conditions are shaping the levelness of the field on which they are competing? The investigation covered Belgium, France, Italy and the UK. Using a detailed literature review, 26 key informant interviews, and a comparative legal analysis, the research found evidence that: - Though TV advertising and online video advertising on VSPs and other services do not serve exactly the same function for advertisers, AVMSs and VSPs are certainly competing for the same budgets and building relationships with the same advertisers in largely the same way, with media agencies playing an important mediating role. - The playing field is not even. The main reasons that the playing field on which AVMSs and VSPs are competing for advertising budgets is not level are related to imbalances in the human and financial resources they can invest in building relationships and in their ownership of and ability to use data. Interchangeability The distribution of advertising budgets resembles concocting a recipe from a number of different ingredients all of which have different features. Agencies do not see it as competition between offline and online, but about finding the right mix of numerous options to reach certain objectives, and they engage in extensive research and complex modelling to do this. Nevertheless, budgets are not expanding currently and there is increased pressure to achieve efficiency and short-term effects, reported against key performance indicators (KPIs). Agencies and advertisers still view TV as crucial for advertising, especially for brand building and awareness, and often TV advertising is the flagship around which the rest of the campaign is designed. TV is trusted because its regulatory framework ensures it is a ‘brand safe’ environment and a good viewing experience, and because the audited measurement systems provide transparency in terms of where advertiser money is going and what it is getting. For agencies and advertisers, online video advertising is attractive for its efficiency in reaching target audiences, often with significant cost saving and in extreme detail, and for the ability to receive rapid feedback on the response to ads placed. They also value online options for small or experimental campaigns. Despite remaining suspicious of much of the data that is produced and concerned about brand safety, they often need to reach the audiences no longer watching TV and they get excited about the optimisation possibilities available. There are differences in the qualitative rules around advertising and agency respondents reported being able to do things online that they cannot do on TV. Some of these rules have been equalised with the 2018 update to the EU’s Audiovisual Media Services Directive (AVMSD). Rules on misleading and comparative advertising are largely harmonised at the EU level and apply to all services, so this area of law was mostly the same in all four jurisdictions studied. A ban on political advertising on AVMSs was also common to all four, with no equivalent for VSPs. Efforts to address political advertising online are nascent, mainly focused on ensuring disclosure, and tied to efforts to combat disinformation. There is also a difference in product placement rules. The 2018 AVMSD includes user generated content (UGC) in the definition of product placement and allows it for the most part, but the exceptions, such as children’s and consumer programmes, in which it is prohibited for AVMS providers do not apply to VSPs. RECOMMENDATIONS As they implement the AVMSD, Member states should devise co-regulatory mechanisms that will be effective in enforcing content and advertising standards on VSPs and adhere to the Directive’s intention of levelling the playing field. The Commission’s guidance as to what qualifies as a VSP and criteria for co-regulatory mechanisms should be designed to maximally even out conditions among advertising-dependent services. Though there is no need to regulate UGC producers such as vloggers and influencers, national regulators should provide disclosure guidelines similar to those for content on AVMSs, and the European Regulators Group (ERGA) should investigate whether there is a need for the AVMSD’s product placement exceptions to be extended to VSPs. Industry bodies with support from national regulators should work towards standardisation of measurement within and across channels, including both agreement on a ‘common currency’ measurement for video and innovative ways in which the need to service KPIs can be addressed by all players. Relationships AVMS providers and VSPs take similar approaches to building relationships with agencies and advertisers. Both nurture long-term relationships with agencies, with personal relationships still being crucial. They also engage directly with larger advertisers to understand their aims and make them aware of the options they provide, particularly when rolling out new ones, such as the 6 second un-skippable ads online or addressable TV options. Whereas the most popular VSPs are global companies able to use that status advantageously for tax purposes and draw on extensive financial and human resources, AVMS providers are often prohibited by national-level rules aimed at protecting media pluralism from collaborating or even combining resources within the same group in ways that might allow them work towards addressing these imbalances. Some AVMS providers are engaged in transnational collaborations. Rebates and discounts based on scale and duration are common practice in how prices are set both for online and offline inventory, except when they are determined by auction in the programmatic systems. These and other contract conditions are subject to negotiations that, for AVMS providers in some jurisdictions, are constrained by trading frameworks. RECOMMENDATIONS Member states should revisit media plurality measures, including cross-ownership rules, with a view to enabling AVMS providers to co-operate in some areas, in which greater scale or scope may be crucial to allowing them to compete against global VOD and VSP services, without reducing the pluralism of views and content available to citizens. Member states should adopt transparency requirements similar to the French Sapin law in fair trading policy and EU policy makers should consider harmonising EU-level rules. The European Commission should closely monitor the implementation of national-level taxes on the B2B revenues of platforms, such as Italy’s 3% “web tax,” to assess the effects on the wider ecosystem and other businesses, and consider roll out across the Union. Data Ownership and Use VSPs can leverage the consent that they gather from their vast user base for targeting purposes and for the kind of tracking of an individual’s post-exposure journey needed to provide ROI results and make attribution claims. On the other hand, AVMS providers have only recently been requiring registration for users to access their AVOD and this is still giving them a rather limited type and amount of data on their users. The extent to which addressable TV gives AVMS providers useful data depends on the arrangements with the company providing the set top boxes to households. There is also an imbalance in access to online campaign-related data. The agreements that agencies and advertisers have with demand side platforms give them ownership of such data for their own campaigns. However the AVMS providers, or other publishers on the supply side, do not get such data for the campaigns run on their sites or around their content. A parallel might be if BARB, Auditel or Mediametri data was only available to agencies and advertisers. Our evidence indicates that data is an essential element of competition, and inventory holders such as AVMS providers and VSPs must be able to address the need for advertisers to demonstrate performance. Agencies and advertisers have concerns about dominance in the exploitation of data in this ecosystem that merit investigation. Respondents from various categories noted that GDPR appears to have further concentrated power in the hands of global platforms operating in the programmatic systems. Several mentioned the challenges of trying to compare across “walled gardens” of data maintained by those providing online advertising inventory and the lack of choice about what platforms they can use. RECOMMENDATION Competition authorities and data protection authorities should work together to assess possible concentration in the programmatic advertising system and in the wider market for video advertising.
Author: Deborah Hickling Gordon
Publisher: Springer Nature
ISBN: 3030380653
Category : Social Science
Languages : en
Pages : 202
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Book Description
This book proposes contemporary decolonization as an approach to developing cultural economies in the Global South. It presents the account of the transformation of television in Jamaica and Ghana to audiovisual subsectors; from cultural institutions to cultural industries and then subsectors of emerging cultural economies as representative case studies. ‘Glocal’ changes are presented within five organizing phenomena: philosophical, ideological, and economic change, and their impact on governance and the operational transformation of the television sectors of Jamaica and Ghana. This book represents the first critical examination and comparison of cultural and creative industries (CCI) and economy concepts in the Caribbean and Africa. It is an original contribution to the development of strategies that influence processes, structures, and policies related to the cultural economy concept and those required to improve television industries. This process of describing culturally specific characteristics of CCI is designed to be applicable to the CCI of developing countries including those in Africa and the Caribbean, where interpretations and implementation suited for advanced industrial nations have been insufficiently questioned and challenged.
Author: Guy Healy
Publisher: Routledge
ISBN: 1000535657
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This book tells the story of diverse online creators – women, ethnic and racial minorities, queer folk and those from hardscrabble backgrounds – producing low budget, high cultural impact web-series which have disrupted longstanding white male domination of the film and TV industries. Author Guy Healy addresses four burning problems faced by creators in the context of digital disruption (along with potential solutions), namely: the sustainability of monetizing digital content and the rising possibility of middle-class artistic careers; algorithmic volatility; the difficulty of finding people to share jealously guarded industry knowledge as traditional craft-based mentoring and expertise-sharing mechanisms break down; and the lack of diversity and authenticity in high-profile storytelling. It includes nine case studies, five drawn from a second wave of outstanding YouTube-developed talent, transitioning to longer form narrative, most collaborating with established TV producers working across the divide between online and established television culture, and all from under-represented and/or minority backgrounds. The balance are film-school and industry professionals leveraging YouTube in the same way, including two Writers Guild of America new media award-winners. These storytellers leverage their social networks and chase sustainable careers by reaching audiences of subscription video-on-demand platforms and mainstream online broadcast in Australia and North America. The Production of Global Web-Series in a Networked Age is the first longitudinal study of this historic rapprochement between online and television cultures. Four of the cases are in Emmy-winning contexts, and one in an Emmy nominated context. Covering 2005–2021, the book reveals distinctive new forms of screen industry convergence with profound implications for creators’ careers, the screen industry in general, new media theory, and broader cultural and social change. It is essential reading for students, academics and industry professionals working on the production and distribution of web series.
