The Development of the New Media Economics under influence of global economics crises - Research Proposal Example

The economic indicators of media industry are crucial to study and understand. Answering this question will allow to establish relationship of performance of the industry according to the external environmental factor. Global economic crisis have impacted the economic activities of the developed, developing and underdeveloped economies. According to IMF definition of global recession, the growth rate of economy less than three percent results in global recession (Lall, 2008). Nevertheless the theoretical motivation comes from the book of Albarran (1996) that allowed basic understanding of media economics, where economic activities of different media markets have been covered.

This initiated interest of researcher on different aspects of media economics. The global crisis brought different economic situation of a business cycle particularly to new media economics. New Media Economics is that field of economic studies that covers different aspects of production, distribution and consumption of media services by different consumer groups. This is an interdisciplinary study that borrows thoughts from different areas of studies like entertainment studies, management, economics, psychology and others.

This study also covers the impact of technology on the different operations of media industries. There have been various studies done in order to understand different aspects of new media economics (Lall, 2008). “The world economy is likely to shrink for the first time in decades this year, the head of the International Monetary Fund (IMF) has warned. Dominique Strauss-Kahns prediction is gloomier than that the IMFs current official forecast of 0.5% growth. He added that trade was falling at an alarming rate and business and consumer confidence had collapsed.

(BBC, March 2009)” In this scenario, there are too much of talk in our own surroundings and environment that attracts people to know more about the same. Media