Basic elements

Harold L. Vogel

doi:10.1017/CBO9780511510786.004

Chapter 2 - Basic elements

from Part I - Introduction

Published online by Cambridge University Press: 22 August 2009

Harold L. Vogel

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Summary

Listen to the technology and find out what it is telling you.

– Carver Mead, chip design pioneer

Entertainment and media industries all operate within a framework of commonly shared elements. All sectors are conditioned by the same underlying rules, are affected by changes in distribution technologies at approximately the same time, and, because of the nature of the products and services offered, are often both buyers and sellers of advertising services. The relevance of these basic and usually invisible aspects common to every entertainment and media business sector is explained in this chapter.

Rules of the road

Laws of the media

Media pioneer Marshall McLuhan (1964, p. 305) early on noted that “the content of any medium is always another medium.” In other words, each medium, whether it be books, music, film, games, or theater, borrows from the others and is interdependent: The content of the movie may be based on the novel, or the novel may inspire the movie or the song. The Lion King animated movie, for example, led to the introduction of a children's game, while the video games Mortal Kombat and Tomb Raider ended up being made into movies. Chicago went from a play to a Broadway musical to an award-winning film.

This notion, however, forms the basis of only one of McLuhan's four immutable “laws” of media (McLuhan and McLuhan 1988, p. viii), which may be directly verified by observation and applied to every product of human effort.

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Type: Chapter
Information: Entertainment Industry Economics
A Guide for Financial Analysis
, pp. 39 - 62

DOI: https://doi.org/10.1017/CBO9780511510786.004 [Opens in a new window]

Publisher: Cambridge University Press

Print publication year: 2007

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