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Find out how large are the media industries in the U.S in terms of last year's revenues and influence. What are the consequences of that for media culture - Essay Example

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The Movie industry is one industry which is believed to be the most entertaining industry. This industry is also the most informative industry in which there are chances that some films may even generate revenue which may be almost $1 billion. An example for this kind of revenue generation is the movie "TITANIC." In 2001, worldwide gross revenues generated by motion pictures in all territories and media (including music and ancillaries) amounted to over $40 billion…
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Find out how large are the media industries in the U.S in terms of last years revenues and influence. What are the consequences of that for media culture
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of the of the The media industries in the U.S in terms of last year's revenues and its influence on media culture
The Movie industry is one industry which is believed to be the most entertaining industry. This industry is also the most informative industry in which there are chances that some films may even generate revenue which may be almost $1 billion. An example for this kind of revenue generation is the movie "TITANIC." In 2001, worldwide gross revenues generated by motion pictures in all territories and media (including music and ancillaries) amounted to over $40 billion. Over 70% of the population rents or goes to movies regularly, thus accounting for over 1.5 billion movie attendances each year in the U.S. The revenues for the year 2004 from cinema tickets, videos and DVD sales, as well as television rights, reached a whopping $44.8bn (24bn) last year, up 9 percent from 2003. Usually, the largest, most impressive grosses, are generated by high-budget A-Pictures, financed and/or released by the MPAA companies; however, such pictures do not always create the optimum rate of return, especially for net profit participants, who, unfortunately, only see profit participation in 5% of the pictures.
The statistics of the movie industry in the United States also reveal that there had been an increase of almost 30% in the media markets in the span of the past ten years. According to a study conducted by Monitor Co., the movie and television industries contributed over $16 billion to the State of California's economy, directly employing 164,000 and indirectly employing another 184,000. The study also found that the vast majority of feature films and television programs are produced by independent producers.
Further, certain facts and forecast with relevance to the movie industry are presented below.
"US digital cinemas and the introduction of 3D screens will reinvigorate the box office market."
"In EMEA, online subscription rentals will propel overall rental activity while cannibalising in-store spending."
"Asia Pacific will be the fastest growing region, rising from US$16.7 billion in 2006 to US$23.1 billion in 2011, growing at a 4.6 percent CAGR."
"In Latin America, rising affluence and low-cost videos will help counter ongoing piracy and boost home video growth."
During the recent past, there has been a lot of transformation in the way media is reaching the audience. There has been a shift in the media in new forms like DVD and internet. This shift obviously has got an influence and also a strong cultural and social impact on the society. Television broadcasting has a large amount of control in influencing the content that society watches and the times in which they are viewed. This is a distinguishing feature of traditional mediums and although they are by no means redundant, the development of the internet has challenged the traditional participation habits involved in mediums such as television.
References
1. http://www.afterdawn.com/news/archive/6402.cfm
2. http://www.mecfilms.com/moviepubs/memos/moviein.htm
3. http://www.pwc.com/extweb/industry.nsf/docid/8CF0A9E084894A5A85256CE8006E19ED
4. http://www.worldfreeinternet.net/news/media.htm Read More
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