Abstract
Media companies have started paying especial attention to online media. During many years, they have been the audience leaders, so they have got enough advertising revenue to be profitable. However, they are suffering nowadays from the competition of Internet, social media and new electronic devices.
We want to look at the differences among the management of traditional media and the new ones based on the digital technology; we will also analyse the peculiarities that online media management has and we will try to outline what traditional media should do to adapt to them. We will first review, from a theoretical perspective, the existent literature on monetizing social media in the audiovisual business. Secondly, two main Spanish broadcasters, which have integrated social media with television shows, will be analysed in depth; in addition, other relevant examples where social media have been developed along with television programmes will be mentioned. And finally, the key indicators of efficient use of social media in television shows in terms of profitability will be outlined, and a conclusion will be raised about the new meanings of profitability for media companies.
This chapter forms part of the subsidized research project “New Consumption Habits in Audio-visual Contents: Impact of Digitalization on the European Media Diet”, financed by the Spanish Ministry of Education and Culture for the period 2011–2013 (CSO2010-20122).
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
AMETIC. (2011). Informe sobre la Industria de contenidos digitales. Ametic. http://www.ametic.es/media/Ou80/File/Informe_ContenidosDigitales2011.pdf
Antena 3 de televisión, s.a. (2010). Annual report 2010. http://www.grupoantena3.com/nuevaa3tv/doc/Cuentas.pdf
Bardají, J. (2011, December 8). General Manager of Antena 3. Personal interview.
BBC (2007) BBC Annual Report and Accounts. London: BBC.
Boyd, D., & Ellison, N. (2008). Social network sites: Definition, history and scholarship. Journal of Computer-Mediated Communication, 13, 210–230.
Brandenburger, A. M., & Nalebuff, B. J. (1996). Coopetition. New York: Doubleday.
Burt, R. S. (2005). Brokerage and closure: An introduction to social capital. Oxford: Oxford University Press.
Chan-Olmsted, S., & Ha, L. S. (2003). Internet business models for broadcasters. How television stations perceive and integrate the Internet. Journal of Broadcasting & Electronic Media, 47(4), 597–617.
Chan-Olmsted, S., Lee, S., & Kim, H. (2011). Competitive strategies in Korean mobile television markets: A comparative analysis of mobile operators and television broadcasters. International Journal on Media Management, 6(1), 77–93.
Dematté, C., & Perretti, F. (1997). L´impresa televisiva. Milan: Etaslibri.
Díaz, I. (2011). Convocan por redes sociales un ‘apagón’ de Telecinco en protesta por la entrevista a la madre de ‘el Cuco’. El Mundo, 2011/11/12. http://www.elmundo.es/elmundo/2011/11/11/comunicacion/1321027921.html
Diego, P., & Herrero, M. (2010). Desarrollo de series online producidas por el usuario final: el caso del videoblog de ficción. Palabra Clave, 13(2), 325–336.
Dowling, M., Lechner, C., & Thielman, B. (1998). Convergence – Innovation and change of market structures between television and online services. Electronic Markets, 8(4), 31–35.
Doyle, G. (2010). From television to multi-platform: Less form more or more from less? Convergence, 16(4), 431–449.
Dunnet, P. (1990). World television industry. An economic analysis. London: Routledge.
El Cosmonauta. http://elcosmonauta.es/
El Mundo. (2011). Donettes retira una campaña por la presión de Twitter. 2011-10-01. http://www.elmundo.es/elmundo/2011/09/30/valencia/1317365823.html, http://twitter.com/#!/donettes
Ellison, N., Steinfield, C., & Lampe, C. (2010). Connection strategies: Social capital implications of Facebook-enabled communication practices. New Media & Society, 13(6), 873–892.
Enders Analysis. (2011, May). Facebook’s threat to Google. http://www.endersanalysis.com/category/key-companies/facebook Retrieved November 17, 2011.
Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research, 24(4), 343–373.
Frith, S. (2000). The black box: The value of television and the future of television research. Screen, 41(1), 33–50.
Fundación Orange. (2011). Informe eEspaña. Fundación Orange, Madrid http://www.informeeespana.es/docs/eE2011.pdf
Godlewski, L. R., & Perse, E. M. (2010). Audience activity and reality television: Identification, online activity, and satisfaction. Communication Quarterly, 58(2), 148–169.
Greenberg, B. (2010, May 3). MediaWeek, 20(18), 37.
Guerrero, E. (2011). El ecosistema multiplataforma de los grupos televisivos españoles: los formatos de entretenimiento. Comunicación y Hombre, 7, 85–103.
Hayes, J., & Graybeal, G. (2011). Synergizing traditional media and the Social Web for monetization: A modified media micropayment model. Journal of Media Business Studies, 8(2), 19–44.
Herrero, M. (2009a). La economía del producto audiovisual en el mercado de la comunicación. Comunicación y Sociedad, 22(1), 7–31.
Herrero, M. (2009b). The economics of series of audiovisual entertainment products. In M. Medina (Ed.), Creating, producing and selling TV shows (pp. 31–52). Lisbon: Formal Press.
Herrero, M., & Sádaba, C. (2006). Spain: An emerging market still giving its first steps. In L. Ha & R. Ganahl (Eds.), Webcasting worldwide: Business models of an emerging global medium (pp. 155–170). Mahwah, NJ: Lawrence Erlbaum.
Hoskins, C., McFadyen, S., & Finn, A. (1997). Global television and film. An Introduction to the Economics of the Business. New York: Oxford University Press.
IAB Europe. (2011). European online advertising expenditure, IAB, UK. http://www.iabspain.net/ver.php?mod=descargas&id_categoria=4,14,40,17
Kozinets, R. V. (2006). Click to connect: Netnography and tribal advertising. Journal of Advertising Research, 46, 279–288.
Li, C., & Bernoff, J. (2008). Groundswell: Winning in a world transformed by social technologies. Boston: Harvard Business Press.
Lin, J.-S., & Peña, J. (2011). Are you following me? A content analysis of TV networks’ brand communication on Twitter. Journal of Interactive Advertising, 12(1), 17–29.
Medina, M. (2007). Explotación económica de las series familiares de televisión. Comunicación y Sociedad, 20(1), 51–85.
Medina, M., & Ojer, T. (2011). The transformation of Public TV Companies into Digital Services at the BBC and RTVE. Comunicar, 36, 87–94.
Moreno, J. (2008, January 13). Multimedia Contents Management, Antena 3, Conference at Universidad de Navarra.
Nieto, A. (1984). La prensa gratuita. Pamplona: Eunsa.
Nieto, A. (2000). Time and the information market: The case of Spain. Pamplona: Eunsa.
O’Neil, N. (2010, September 23). Facebook could generate $300 million in credits revenue next year. All Facebook. http://www.allfacebook.com/facebook-could-generate-300-million-in-credits-revenue-next-year-2010-09
Owen, B. M., & Wildman, S. S. (1992). Video economics. Cambridge: Harvard University Press.
Parr, B. (2011, January 28). LinkedIn’s IPO: An overview. Mashable Business. http://mashable.com/2011/01/28/linkedins-ipo-an-overview/ Retrieved 11/17/11.
Patel, K., & Slutsky, I. (2011). Is social media killing TV?. Advertising Age, 4/18/2011, 82(16), 4.
Pérez-Latre, F. J., Blanco, I. P., & Sánchez, C. (2011). Social networks, media and audiences: A literature review. Comunicación y Sociedad, 24(1), 63–74.
Picard, R. (1989). Media economics. London: Sage.
Picard, R. (2009). Blogs, Tweets, Social Media, and the News Business. Nieman Reports, Fall, 10–12.
Siapera, E. (2004). From coach potatoes to cybernauts? The expanding notion of the audience on TV channels’ websites. New Media & Society, 6, 155–172.
Stefanone, M. A., Lackaff, D., & Rosen, D. (2010). The relationship between traditional mass media and ‘Social Media’: Reality television as a model for social network site behavior. Journal of Broadcasting & Electronic Media, 54(3), 508–525.
Sullivan, D., & Jiang, Y. (2010). Media convergence and the impact of the Internet on the M&A activity of large media companies. Journal of Media Business Studies, 7(4), 21–40.
Tapscott, D., & Williams, A. (2006). Wikinomics: How mass collaboration changes everything. New York: Portfolio Trade.
Tapscott, D. (2008). Wikinomics: How mass collaboration changes everything. New York: Portfolio.
The Economist. (2011, May 1). A special report on television. 16 pp.
Vara, R. (2011). Multimedia Marketing Manager, e-mail 1st December.
YouView. http://www.youview.com/
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2013 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Herrero, M., Medina, M. (2013). Keys to Monetize Social Media in the Audiovisual Business. In: Friedrichsen, M., Mühl-Benninghaus, W. (eds) Handbook of Social Media Management. Media Business and Innovation. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-28897-5_18
Download citation
DOI: https://doi.org/10.1007/978-3-642-28897-5_18
Published:
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-28896-8
Online ISBN: 978-3-642-28897-5
eBook Packages: Business and EconomicsBusiness and Management (R0)