Entertainment Company - Research Paper Example

ENTERTAINMENT COMPANY RESEARCH: CNN Background Research RESEARCH AN ENTERTAINMENT COMPANY ____________________________ Date: __________________ CABLE NEWS NETWORK (CNN) Company Name: Cable News Network (CNN) Parent Company: Time Warner Inc. History and Current Position In the year 1980, a US media tycoon called Ted Turner and twenty-five other entrepreneurs founded the Cable News Network (CNN) to provide television services on a 24-hour basis, a first of its kind in the history of the United States.

Though it first started as an all-time news television network, CNN has since diversified its products and services in its quest to capture a wide range of viewers and customers. All the major broadcasts from CNN are done at the CNN Center in Atlanta, the Time Warner Center in New York City. It has several affiliate broadcasting studios spanning from Los Angeles to Washington D.C. Currently, this strategy ensures that CNN news and services are received in more than 212 countries. This makes it one of the world’s leading broadcasting networks (Timewarner.com, 2013).

Parent Company structure and ownership A parent American company owns CNN multinational media corporation called Time Warner Inc. formerly known as AOL Time Warner, Time Warner Inc. has its headquarters in time Warner Center in New York City and has generated the largest revenue in the entire media and entertainment industry. The management of this corporation consists of a group of board of directors, senior executives, and subsidiary managers (Timewarner.com, 2013). BUSINESS Strategic Business Unit/Product line #1: Television and Digital broadcast Product #1: CNN Newsroom Strategic Business Unit/Product line #2: Television Documentaries and Series Product #2: Inside Africa (Timewarner.com, 2013).

TARGET MARKET Product/Service #1: CNN Newsroom Geographic: The program covers major news across the globe. Demographic: Its demographic target ranges from Caucasian, Asian to African adults. Psychographic: Individuals who like to be informed about what is happening across the globe. Benefits Sought: Viewers who watch CNN Newsroom gain new insight, as they are entertained. Usage Rate: CNN Newsroom targets first time, medium, and heavy users. Product/Service #2: Inside Africa Geographic: This is limited only to events happening in Africa.

Demographic: Its main demographic target is the African race. Psychographic: Inside Africa suits individuals who like watching African news. Benefits Sought: The benefits sought include informing, entertaining, and developing the African continent (Timewarner.com, 2013). Usage Rate: Inside Africa targets first time, medium, and heavy users. COMPETITION Competitor #1: BBC Competitor’s product: BBC News and Focus on Africa Competes with which of your products: CNN Newsroom and Inside Africa (BBC.com, 2013).

Competitor #2: CCTV Competitor’s product: Inside Africa Competes with which of your products: Inside (CCTV.com, 2013). Rank the Success of Each Company along with evidence supporting how you ranked them (# 1 is most successful) Company #1: CNN because it commands 30% Share of Market (Timewarner.com, 2013). Company #2: BBC because it commands 20% Share of Market (Timewarner.com, 2013). Company #3: CCTV because it commands 10% Share of Market (Timewarner.com, 2013). CNN has experienced vast growth over the years and has brighter financial prospects as compared to its competitors.

This is largely due to its competence and wide presence across the world (Timewarner.com, 2013). References TimeWarner.com. Delivering High Quality Brands and Contents to Worldwide Audiences. Retrieved May 20, 2013, from http://www.timewarner.com/our-company/management/ BBC.com. World news TV. Retrieved May 20, 2013, from http://www.bbc.co.uk/news/world_radio_and_tv/ CCTV.com. Shows. Retrieved May 20, 2013, from http://cctvnews.cntv.cn/index.shtml