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Modern Forms of Media Globalization
Liubchik K. L.

Liubchik, Katerina L. (2020) “Modern Forms of Media Globalization.” Business Inform 2:35–41.
https://doi.org/10.32983/2222-4459-2020-2-35-41

Section: Globalization Processes in the Economy

UDC 330.341

Abstract:
Accelerated technological advances in information and communication sphere have become a powerful driver of the active deployment of media globalization processes as a complex process of deepening economic interaction, specialization and cooperation of media corporations around the world. To date, the main forms of media globalization have been clearly crystallized and sustained. First of all, a dynamic increase in the total value of international trade in media products and services in recent decades should be noted, which include, in particular, film and television programs, books and sound recordings, as well as broadcasts and similar recordings of events, etc. The next form of manifestation of media globalization is the internationalization of the business operations of national media corporations, with the transfer of their individual links abroad on the basis of direct foreign mechanisms investment, and its main motivations stem mainly from commercial purposes. In addition, the manifestation of media globalization is the growing trends of international fragmentation of media production in recent decades, which are implemented by the licensing mechanisms of issuing printed products by national publishing structures. Another important direction is the widespread distribution of international multimedia newsrooms, which are a model for the production of information and entertainment content by a highly professional creative team of journalists. The expansion of national media brands into new foreign markets deserves special attention in the analysis of the prevailing forms of media globalization. At the same time, the dominance of transnational corporations in the global media market makes the issue of impact of foreign ownership of the media in the context of their service to the public interest a priority.

Keywords: media industry, business structures, global media market, mass information, media.

Tabl.: 1. Bibl.: 10.

Liubchik Katerina L. – Applicant, Department of International Accounting and Auditing, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

List of references in article

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“Media and Entertainment Sportlight. The Media and Entertainment Industry in the United States“. https://www.selectusa.gov/media-entertainment-industry-united-states
“Leading media companies in 2017, based on revenue (in billion euros)“. https://www.statista.com/statistics/272469/largest-media-companies-worldwide/
“RT watched by 70mn viewers weekly, half of them daily. Ipsos survey RT“. 2016. https://www.rt.com/news/335123-rtviewership-ipsos-study
Bonggolto, J. “Netflix to invest $8 billion to produce about 700 original TV shows and movies this year“. 2018. https://www.neowin.net/news/netflix-to-invest-8-billion-to-produce-about-700-original-tv-shows-and-movies-this-year/
Zinin, Ye. Yu. “Mediakholdingi v «tsifrovom» mire: diversifikatsiya v mediaindustrii“ [Media Holdings in the Digital World: Diversification in the Media Industry]. Vestnik Sankt-Peterburgskogo universiteta. Seriya «Menedzhment», no. 4 (2010): 3-27.
Markides, K. S., and Uiliamson, P. Dzh. “Sviazannaya diversifikatsiya, klyuchevyye kompetentsii i rezultaty korporatsii“ [Related Diversification, Core Competencies and Corporate Performance]. Rossiyskiy zhurnal menedzhmenta, vol. 6, no. 1 (2008): 65-88.
Hafez, K. The Myth of Media Globalization. Cambridge; Malden, Mass. : Polity Press, 2007.
“CNN Worldwide Fact Sheet“. http://cnnpressroom.blogs.cnn.com/cnn-fact-sheet/
“CNN in Viewers Cable Network of Choice for Democratic and Republican National Convention Coverage“. Time Warner, August 18, 2000. https://www.warnermediagroup.com/newsroom/press-releases/2000/08/18/cnn-is-viewers-cable-network-of-choice-for-democratic-and

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