21st Century - Synergy

The basic concept of Synergy can be explained through this formula:

1 + 1 = 3
Synergy means working together. Different entities cooperate advantageously. The whole is greater than the sum of its parts.

In media economics, synergy is the creation and promotion of a product or brand across a range of different platforms.

Film companies working with record labels, the video game industry, or non-media tie ins such as merchandise or food promotions.

How have cinema institutions taken advantage of synergy to increase revenue, despite a drop in cinema attendances?

• What is media synergy?  Provide examples.
• How does it link to technological convergence?  Provide examples.
• How does it link to Vertical Integration? Provide examples.
• Advantages to institutions?

In media economics, synergy is the creation and promotion of a product or brand across a range of different platforms.

• Books
• Comics
• Films
• Music
• TV
• Video games
• Tie ins

Types of ‘synergetic’ tie ins

• Synergy can come in a number of different forms
• Product Placement
• Spin-Offs
• Pre-Existing Property
• Merchandise
• Vertical Integration

Mini Synergy Case Study...

The synergy comes from the mutually beneficial relationship between the products.

Ed Sheeran the artist and The Hobbit the film, both benefit from this joint promotional venture.

Synergy is an obvious economic benefit of large conglomerates such as Time Warner being structured in this way.

Vertical Integration…

Vertical Integration is an arrangement where a larger company (a conglomerate) owns several other companies at different stages of the production or the supply chain.

Conglomerate controls...

Production

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Distribution (including marketing)

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Exhibition / publication / broadcast

Reboot a film… (present as starter on Friday)

Create a Google PPT or an A3 mind map… Include 

• Who your production company is (one of the big six)
• Who your parent is (the conglomerate that owns them)
• A fictional example of synergy with the music industry (who and why?)
• A fictional example of synergy with the video game industry (which one and why)
• Casting including Star Power
• A range of USPs
• Ideas for social media campaigns (what will it entail specifically)
• Ideas for distribution methods (traditional or experimental?)
• Ideas for how you will take advantage of new (post 2000) film technologies