Paolo SigismondiBy Vanessa Valdivia |
He spoke with Vanessa Valdivia about his work.
How is reality television disrupting the Hollywood business model?
The global rise of the new wave of non-scripted programs, coming in large part from outside the Hollywood system, brought emerging players to the fore. This is a process of “glocalization,” a global format localized and adapted in different territories. This unique feature, combined with the disruption of digital distribution, is challenging Hollywood’s worldwide leadership. Now companies which own reality television programs, mostly European “reality TV” developers and distributors, are asserting their clout in Hollywood’s business landscape.
This work looks at digital challenges in media landscape, and specifically in the entertainment industry. Historically, the entertainment industry was not only able to adapt, but actually could utilize new technologies to further monetize their products. Technology provided new outlets and the motto “content is king” still rang true. No matter the technology – it was the same product. However, this has shifted with the rise of the ICT revolution, and non-scripted television appears to be better positioned to deliver and capture value in the new environment. As a result, the leaders in non-scripted entertainment are the ones profiting more from these model shifts. The ICT revolution is proving to be an example of disruptive technology for the global media and entertainment industry.
Hollywood has gone unchallenged for so long. Will it be able to adapt?
The analysis in this book examines Hollywood’s success in the global media landscape at the turn of the 21st century by identifying the drivers of its competitive advantages, and of the challenges and opportunities the Hollywood system faces in a new century global mediascape. Digital technologies and convergence have had an unprecedented impact on Hollywood, ushering in changes in the content, delivery platforms and business models of the sector: New devices allow people to consume content in different ways. But it has been difficult for Hollywood to capture the revenue streams as audiences’ consumption habits change. It no longer is a clearly defined landscape. This book connects communication frameworks with economic models, analyzing the economic forces that shape communication.
What challenges still remain in this field?
Scholarship at the intersection of different strands of inquiry appears to be particularly useful in providing insights into the analysis of the global media and entertainment sector. This book for example draws on different theoretical frameworks from the fields of economics, communication and media studies with the goal of shedding light on some of the changes in the landscape, as they unfold. While this is important to better analyze the complexities of this sector, difficulties remain in harmonizing different theoretical frameworks and scholarly conversations from different fields of study.
Vanessa Valdivia is a Master’s candidate in the Strategic Public Relations Program at Annenberg.