What significance does the continuing development of digital media technology have for institutions and audiences?

What significance does the continuing development of digital media technology have for institutions and audiences?

This continuing development has a huge significance on media institutions and audiences. The film industry is constantly changing and adapting to find the most efficient and effective way to distribute their product. Without this continuing development several production, marketing and distribution techniques could not be used, thus lowering profit/turnover.

A large majority of what a film needs in its formula for success is powered by technology. An example of this being special effects, pyrotechnic and CGI used in production practices. Films such as Batman vs Superman and Suicide Squad (both products of Time Warner) are very much CGI dominated due to their supernatural concepts, this was all achievable due to their large production budgets of $250 million (Batman Vs Superman) and $200 million (Suicide Squad). Their profit margins show how this element helped with their success, with Batman vs Superman making $700 million after their production budget in the box office and home media & Suicide Squad making $650 million after their production budget in the box office and home media. There are some rare cases in which not a lot of CGI is used with major success based on their budget such as ‘The Theory of Everything’ a product of Working Title Films, owned by the conglomerate Comcast made $115 million after its $15 million production budget, however although it had success you can clearly see the profit margin between that of films which do use a large amount of CGI and those who do not. This supports that this continuing development is important, as new software and hardware is dedicated to improving the use of special effects and clearly shows it has a positive outcome on sales figures.

Another major importance is that of marketing. In my case Study I chose products of Time Warner created by Warner bros and DC Comics. This is now heavily supported with new digital media technology development and how these companies/conglomerates can now market their product for a higher profit margin upon release. A prime example of success shows the marketing strategy of ‘Batman: The Dark Knight’ they set up a viral campaign like no other. Starting at Comic-con and online the uber fans were given a virtual game in which leaked into real life events all relative to the upcoming film, creating hype around the product way before its release. Creating a trail of clues and concepts this left fans chasing for more and more information with hidden symbols and codes, even to the extent of putting mobile phones in a randomly selected cake store as a part of the trail. This whole idea sparked massive online debate supported by the teaser trailers and even put out a hidden ‘Jokers Edit’ trailer unofficially for fans to find. This whole marketing campaign caused the biggest success Time Warner has had to date making over 1.1 billion dollars on box office.

This brings me to the point of digital convergence where now products such as apps, trailers, toys, games are all available relative to a product given the money ability to expand into this bringing in further profit and popularity to the film.

The increasing technology of social media is also on the rise, which further supports the producers of such media products as film. Especially with platforms such as YouTube. Releasing teaser trailers on popular and developed channels helps give the producers an idea and analytics of who their product appeals to the most and the best way to target their marketing strategy. Social Media can also be used for fan debate, discussion an advertising platforms. Fans even often tend to create SWEDES for big franchises relative to their product with the companies not having to pay the creators however benefiting those behind the real product, creating more hype around the upcoming media product.

More recently, it has also become an option to digitally stream the latest films, shortly after release on well known platforms such as SKY, Netflix, NOW TV, Virgin and Amazon Prime. This brings a consistent income to the production company in the home media performance section, This can always be accessed in later years upon agreement, films as old as 30 are still available to play today. This has an impact on institutions and audiences for those who cannot afford to visit a movie theatre of prefer the comfort of their own home. Without this development, several films would have ceased to have made such a profit as they have done.

The Home media now also offers a range of different formats of recent movies, such as 4k HD, Blu-ray and standard definition, all ranging in price based on their quality all always different experiences of the film, usually dependent on your social grade, This further brings in a profit giving the audience a wider availability. This also applies to the different viewing formats in the cinema, such as IMAX, 3D, 2D and more recently 4D giving an option of more immersive experiences, parallel with prices. 

I agree with the idea that the continuing development of digital media technology is very significant, however strictly believe its ability is very biased on its price of course. Clearly shown by the 3 dominating media behomeths, Comcast, Disney and TimeWarner their film are of massive success based on their ability to spend, products of universal studios, Disney and relative subsidiaries from TimeWarner such as HBO, CNN, Warner Bros etc. show mass success in comparison to those of smaller companies with the inability to spend and dominate due to how they can attract their audience and institutions.