Digital Media Management for the Entertainment Industries Essay

Digital Media Management for the Entertainment Industries - Essay Example It becomes easier to target and promote a product on such websites. In order to build the application, technological requirement is needed that would provide base to the application to run on the Facebook. Various software as well as hardware requirements have been acknowledged. New strategies have been suggested to attract the mass towards the song application. Significant requirement of budget for such project has been identified. Table of Contents Executive Summary 2 Overview 4 Service Description 6 Business Model 7 Profile of Targeted Consumers’ Group 9 Marketing Strategy 10 Risk 12 Budget 12 References 14 Bibliography 18 Overview Digital media are increasingly used by marketers as a means to promote, distribute and perform several marketing activities. It can be depicted that in such scenario, technology has always been at the background by creating necessary conditions for demonstrating the creativity through digital media. It can be revealed that it is the new media tha t provides an opportunity to extend hands towards the emerging digital data sea. It is because of the proliferation of internet that most of the users have become advanced. The modern business houses not only require an audience. Instead, it is quite essential for the audience to participate by providing their valuable feedbacks and turning themselves into players. The creation of ideal latest media assets needs to be exposed on a case-to-case basis (SEO Trends, 2007). Various new digital media such as online video, social media and mobile advertisement have transformed the way companies market their products. The major thing to notice in this regard is that after several years of change in an evolutionary manner, it is the emerging digital media that has brought marketing related communications towards a breakpoint. It has further been noted that the new watchwords for the marketers are considered to be engagement, transparency and authenticity (Busby & Et. Al., 2010). It has been apparent that the media companies as well as the entertainment industries both have experienced extraordinary level of fragmentation. It is worth noticing that the main force behind this trend has been the development of digital technology and the internet. The social networking sites have attracted the people from every nook and corner of the world. Social networking sites have not just become the tool for messaging, or making friends, it has also permitted the users to play online games via its applications where the users can download online games. Similarly, it has been noticed by two websites such as Imeen and Bebo that music is a social phenomenon and the internet can be considered as the platform to conduct business and other activities. With the gaining popularity of the Facebook, the music industry can aim at developing new digital media services which will assist them at increasing the revenue and enhance the competitive position of the company. An application similar to t he games at Facebook can be developed where the users shall be able to download the new songs as well as the old songs of their choice (Shannon, 2009). The social networking sites have been chosen since it acts as a powerful medium for both the companies as well as the advertisers through which they can reach to a huge group of people in a cost effective manner. It can further be considered as the best platform from which the companies can promote their products and thus create brand awareness