Why are Cultural Adaptations such a Prevalent Strategy in the Media Business?
PDF

Keywords

Cultural adaptations
Media business
Business strategy

DOI

10.36922/ssr.v3i5.1253

Abstract

With the technological background of media convergence, industry convergence has gradually become closer, and cultural adaptation strategies have progressively prospered. Phenomenon can be embodied as best-selling novels being adapted for the “big screen,” films being turned into video games and international TV formats for national audiences. For example, of the top ten movies in 2016, seven of the movies are prequels or sequels related to existing movies, and/or are based on novels and comics [1]. This situation is not limited to movies and dramas, other forms (such as drama) have also begun to undergo cultural adaptation [2]. This essay will first define the cultural adaptation strategy based on various perspectives, analyze the characteristics of the media industry, and finally explain why cultural adaptations are such a prevalent strategy in the media business. Cultural adaptations

References

Box Office Mojo, 2020, Domestic Box Office for 2016 – Box Office Mojo. Available at: https://www.boxofficemojo.com/year/2016/ [Accessed December 27, 2020].

CGTN, 2020, IP Business Models and its Adaptations In China. Available at: https://www.boxofficemojo.com/year/2016/ [Accessed December 30, 2020].

Brand S, 1998, The Media Lab. Penguin, New York.

Mueller M, 1999, Digital Convergence and its Consequences. Javnost - The Public, 6(3): 11-27.

Ithiel de Sola, POOL, 1983, Technologies of freedom. Harvard University Press.

Hulsink W, 2005, Tides in Communication Politics? About Shifting Involvements and Technologies of Freedom and the Relevance of Albert Hirschman and Ithiel de Sola Pool for Today’s Communication Studies. Gazette (Leiden, Netherlands), 67(6): 569-574.

Bröring S, Martin Cloutier L, Leker J, 2006, The Front End of Innovation in an Era of Industry Convergence: Evidence from Nutraceuticals and Functional Foods. R&D Management, 36(5): 487-498.

Aaker D, Keller K, 1990, Consumer Evaluations of Brand Extensions. Journal of Marketing, 54(1): 27-41.

Eliashberg J, Elberse A, Leenders M, 2006, The Motion Picture Industry: Critical Issues in Practice, Current Research, and New Research Directions. Marketing Science, 25(6): 638-661.

Felbermayr G, Toubal F, 2010, Cultural Proximity and Trade. European Economic Review, 54(2): 279-293.

Picard R, 2005, Unique Characteristics and Business Dynamics of Media Products. Journal of Media Business Studies, 2(2): 61-69.

Doyle G, 2002, Understanding Media Economics. Sage, London.

Hoskins C, 2004, Media Economics: Applying Economics to New and Traditional Media. SAGE Publications Ltd, Thousand Oaks.

Napoli PM, 2009, Media Economics and the Study of Media Industries, In Holt J, Perren A, Media Industries: History, Theory, and Method. Blackwell Publishing Ltd., Chichester, 161-170.

Bhalgat A, Gollapudi S, Munagala K, 2012, Mechanisms and Allocations with Positive Network Externalities. Proceedings of the 13th ACM Conference on Electronic Commerce.

Rohlfs J, 1974, A Theory of Interdependent Demand for a Communications Service. The Bell Journal of Economics and Management Science, 16-37.

Katz M, Shapiro C, 1985, Product Compatibility Choice in a Market with Technological Progress. Oxford Economic Papers, 38(supp): 146-165.

Lin C, Bhattacherjee A, 2008, Elucidating Individual Intention to Use Interactive Information Technologies: The Role of Network Externalities. International Journal of Electronic Commerce, 13(1): 85-108.

Moran A, 2009, Global Franchising, Local Customizing: The Cultural Economy of TV Program Formats. Continuum, 23(2): 115-125.

Investopedia, 2020, Economies Of Scope Definition. Available at: https://www.investopedia.com/terms/e/economiesofscope.asp [Accessed December 30, 2020].

Baumol W, Blinder A, 2011, Macroeconomics: Principles and Policy, 12th Edition. South-Western Cengage, Mason, OH.

Doyle G, 2013, Understanding Media Economics, 2nd Edition. MPG Printgroup, UK.

Moschandreas M, 2000, Business Economics, 2nd Edition. Thomson Learning, London.