Advertisement

Media Markets, Value and the Unique: Consequences and Implications for Media Management from Karpik’s New Economics Sociology Perspective

  • Andreas WillEmail author
  • Britta Gossel
Chapter
Part of the Media Business and Innovation book series (MEDIA)

Abstract

Taking recent changes in media markets seriously, we suggest a deeper reflection of the term “media market” in close connection to the term “value.” Reflecting common assumptions of media markets in the media management discourse, we open the perspective to economic sociology, since this perspective differs from economic assumptions in various manners. Based on these general reflections that assume markets, value and economy as inherently social phenomena, we focus on Karpik (Valuing the unique. Princeton, NJ: Princeton University Press; 2010), who introduced a theoretical framework of economics of singularities. We apply this approach specifically to media markets.

Keywords

Social Media Platform Economic Sociology Media Market Price Regime Quality Uncertainty 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Albarran, A. B., Chan-Olmsted, S. M., & Wirth, M. O. (2006). Handbook of media management and economics. New York: Lawrence Erlbaum Associates.Google Scholar
  2. Altmeppen, K.-D. (1997). Der Wandel journalistischer Arbeit zwischen neuen Medientechnologien und ökonomischer Rationalität der Medien. Industrielle Beziehungen, 4(2), 11–36.Google Scholar
  3. Altmeppen, K.-D. (2001). Ökonomisierung aus organisationssoziologischer Perspektive. Der Beitrag der Medienunternehmen zur Ökonomisierung. Medien und Kommunikation, 49(2), 195–205.CrossRefGoogle Scholar
  4. Altmeppen, K.-D., Karmasin, M., & von Rimscha, M. B. (2012). Die Ökonomie grenzüberschreitender Medienkommunikation: Ein Beitrag zum Verhältnis von Marktstrukturen und Medienmanagement in transnationaler Perspektive. Medien und Kommunikationswissenschaft, 60(SB 2), 40–58.Google Scholar
  5. Aspers, P. (2007). Theory, reality, and performativity in markets. American Journal of Economics and Sociology, 66(2), 379–398.CrossRefGoogle Scholar
  6. Aspers, P. (2011). Markets. Cambridge: Polity Books.Google Scholar
  7. Aspers, P., & Beckert, J. (2008). Märkte. In A. Maurer (Ed.), Handbuch der Wirtschaftssoziologie (pp. 225–246). Wiesbaden: VS Verlag für Sozialwissenschaft.CrossRefGoogle Scholar
  8. Beck, U., & Beck-Gernsheim, E. (1993). Nicht Autonomie, sondern Bastelbiographie. Anmerkungen zur Individualisierungsdiskussion am Beispiel des Aufsatzes von Günter Burkart. Zeitschrift für Soziologie, 22(3), 178–187.CrossRefGoogle Scholar
  9. Beck, U., & Beck-Gernsheim, E. (1994). Riskante Freiheiten. Individualisierung in modernen Gesellschaften. Frankfurt a.M.: Suhrkamp.Google Scholar
  10. Beckert, J. (2010). How do fields change? The interrelations of institutions, networks, and cognition in the dynamics of markets. Organization Studies, 31, 605–627.CrossRefGoogle Scholar
  11. Bel, G., & Domènech, L. (2009). What influences advertising price in television channels? An empirical analysis on the Spanish market. Journal of Media Economics, 22, 164–183.CrossRefGoogle Scholar
  12. Bridges, J., Litman, B., & Bridges, L. (2006). Newspaper competition in the millennium. New York: Nova Science Publishers.Google Scholar
  13. Callon, M., Méadel, C., & Rabeharisoa, V. (2002). The economy of qualities. Economy and Society, 31(2), 194–217.CrossRefGoogle Scholar
  14. De Correspondent. (2014). Website. Retrieved May 30, 2014, from https://decorrespondent.nl/en
  15. Doyle, G. (2013). Understanding media economics (2nd ed.). London: Sage.Google Scholar
  16. Eddy, M., & Cottrell, C. (2013). German politician’s remark stirs outcry over sexism. Retrieved May 30, 2014, from http://www.nytimes.com/2013/01/29/world/europe/29iht-germany29.html?_r=020
  17. Espeland, W. N. (2011). One singular sensation. Review on Lucien Karpik valuing the unique: The economics of singularities. Socio-Economic Review, 9, 787–800.CrossRefGoogle Scholar
  18. Fourcade, M. (2011). Price and prejudice: On economics and the enchantment (and disenchantment) of nature. In J. Beckert & P. Aspers (Eds.), The worth of goods. Valuation and pricing in the economy (pp. 41–62). New York: Oxford University Presse.Google Scholar
  19. Gerhardts, M., & Klingler, W. (2006). Mediennutzung in der Zukunft. Media Perspektiven, 2, 75–90.Google Scholar
  20. Giddens, A. (1997). Die Konstitution der Gesellschaft. Grundzüge einer Theorie der Strukturierung. Frankfurt a.M.: Campus.Google Scholar
  21. Gossel, B. M. (2014). Entmaterialisierte Medienmärkte. Was wird in Zukunft getauscht? In H. Rau (Ed.), Digitale Dämmerung. Baden-Baden: Nomos.Google Scholar
  22. Healy, K. (2011). Judgment and distinction. Review on Lucien Karpik valuing the unique: The economics of singularities. Socio-Economic Review, 9, 787–800.CrossRefGoogle Scholar
  23. Heilbron, J. (2001). Economic sociology in France. European Societies, 3(1), 41–67.CrossRefGoogle Scholar
  24. Hess, T. (2007). Ubiquität, Interaktivität, Konvergenz und die Medienbranche. Ergebnisse des interdisziplinären Forschungsprojektes intermedia. Göttingen: Universitäts-Verlag.Google Scholar
  25. Hoffmann, M. (2014). Journalismus—Die neuen Nachrichtenkonkurrenten im Netz. Retrieved June 04, 2014, from http://www.netzpiloten.de/journalismus-die-neuen-nachrichtenkonkurrenten-im-netz/
  26. Hutter, M. (2011). Mapping a continent—Valuing the Unique: The economics of singularities. Review on Lucien Karpik valuing the unique: The economics of singularities. Socio-Economic Review, 9, 787–800.CrossRefGoogle Scholar
  27. Jenkins, H. (2003). Quentin Tarantino’s Star Wars? Digital cinema, media convergence, and participatory culture. In D. Thorburn & H. Jenkins (Eds.), Rethinking media change. The aesthetics of transition (pp. 281–314). Cambridge, MA: The MIT Press.Google Scholar
  28. Junge, M. (2002). Individualisierung. Frankfurt a.M.: Campus.Google Scholar
  29. Karpik, L. (1989). L’économie de la qualité. Revue française de sociologie, 30(2), 187–210.CrossRefGoogle Scholar
  30. Karpik, L. (2010). Valuing the unique. Princeton, NJ: Princeton University Press.Google Scholar
  31. Kaspar, C. (2006). Individualisierung und mobile Dienste am Beispiel der Medienbranche: Ansätze zum Schaffen von Kundenmehrwert. Göttingen: Universitätsverlag Göttingen.Google Scholar
  32. Kjellberg, H., & Mallard, A. (2013). Valuation studies? Our collective two cents. Valuation Studies, 1(1), 11–30.CrossRefGoogle Scholar
  33. Kolo, C., & Vogt, P. (2003). Strategies for growth in the media and communication industry: Does size really matter? The International Journal on Media Management, 5(4), 251–261.CrossRefGoogle Scholar
  34. Krautreporter. (2014). Website. Retrieved June 1, 2014, from http://www.krautreporter.de
  35. Lanzolla, G., & Anderson, J. (2008). Digital transformation. Business Strategy Review, 19(2), 72–76.CrossRefGoogle Scholar
  36. Lee, Y. (2007). Effects of market competition on Taiwan newspaper diversity. Journal of Media Economics, 20(2), 139–156.CrossRefGoogle Scholar
  37. Loomis, K. D., & Albarran, A. B. (2004). Managing radio market clusters: Orientations of general managers. Journal of Media Economics, 17(1), 51–69.CrossRefGoogle Scholar
  38. Luhmann, N. (1996). Die Realität der Massenmedien (2. erweiterte Auflage). Opladen: Westdeutscher Verlag.Google Scholar
  39. Manduchi, A., & Picard, R. (2009). Circulations, revenues, and profits in a newspaper market with fixed advertising costs. Journal of Media Economics, 22(4), 211–238.CrossRefGoogle Scholar
  40. Merten, K. (1994). Konvergenz der deutschen Fernsehprogramme: Eine Langzeituntersuchung 1980–1992. Münster: Litverlag.Google Scholar
  41. Meyen, M. (2009). Medialisierung. Medien & Kommunikationswissenschaft, 57(1), 23–38.CrossRefGoogle Scholar
  42. Napoli, P. M. (2012). Audience evolution and the future of audience research. The International Journal on Media Management, 14, 79–97.CrossRefGoogle Scholar
  43. Nelson-Field, K., & Riebe, E. (2011). The impact of media fragmentation on audience targeting: An empirical generalisation approach. Journal of Marketing Communications, 17(1), 51–67.CrossRefGoogle Scholar
  44. North, D. C. (1977). Markets and other allocation systems in history: The challenge of Karl Polanyi. Journal of European Economic History, 6(3), 703–716.Google Scholar
  45. Oba, G., & Chan-Olmsted, S. M. (2006). Self-dealing or market transaction? An exploratory study of vertical integration in the U.S. television syndication market. Journal of Media Economics, 19(2), 99–118.CrossRefGoogle Scholar
  46. Perleman, C. (1976). Logique juridique: Nouvelle rhétorique. Paris: Dalloz.Google Scholar
  47. Pethig, R. (2003). Massenmedien, Werbung und Märkte. Eine wirtschaftstheoretische Analyse. In K.-D. Altmeppen & M. Karmasin (Eds.), Medien und Ökonomie. Grundlagen der Medienökonomie: Kommunikations- und Medienwissenschaft, Wirtschaftswissenschaft. (Band 1/1, pp. 139–186). Opladen: Westdeutscher Verlag.Google Scholar
  48. Quiring, O., & Rauscher, B. (2006). Individualisierung von Medienprodukten—ökonomisches Potenzial versus gesellschaftliche Bedrohung? In M. Friedrichsen, W. Mühl-Benninghaus, & W. Schweiger (Eds.), Neue Technik, neue Medien, neue Gesellschaft? Ökonomische Herausforderungen der Onlinekommunikation (pp. 339–364). München: Reinhard Fischer.Google Scholar
  49. Reid, A. (2014). BBC using WhatsApp and WeChat at Indian elections. Retrieved June 04, 2014, from http://www.journalism.co.uk/news/bbc-using-whatsapp-and-wechat-at-indian-elections/s2/a556343/
  50. Ritzer, G., & Jurgenson, N. (2010). Production, consumption, prosumption. The nature of capitalism in the age of the digital ‘prosumer’. Journal of Consumer Culture, 10(1), 13–36.CrossRefGoogle Scholar
  51. Rosse, J. N. (1975). Economic limits of press responsibility. Studies in Industry Economics, 56, 12–18.Google Scholar
  52. Rössel, J. & Beckert, J. (2012). Quality classifications in competitions: Price formation in the German wine market. Max-Planck-Institut für Gesellschaftsforschung Köln. MPlfG Discussion Paper, 12/3.Google Scholar
  53. Seiser, G., & Mader, E. (2006). Theoretische Grundlagen der Ökonomischen Anthropologie. Online-Lehrbuch zur ökonomischen Anthropologie. Retrieved May, 28 2015, from http://www.univie.ac.at/ksa/elearning/cp/oeku/theogrundlagen/theogrundlagen-titel.html
  54. Shannon, C. E., & Weaver, W. (1949). The mathematical theory of communication. Urbana: University of Illinois Press.Google Scholar
  55. Siegert, G. (2001). Ökonomisierung der Medien aus systemtheoretischer Perspektive. Medien und Kommunikation, 49(2), 167–176.CrossRefGoogle Scholar
  56. Sjurts, I. (2004). Der Markt wird’s schon richten!? Medienprodukte, Medienunternehmen und die Effizienz des Marktprozesses. In K.-D. Altmeppen & M. Karmasin (Eds.), Medien und Ökonomie. Grundlagen der Medienökonomie: Kommunikations- und Medienwissenschaft, Wirtschaftswissenschaft (Band 2, pp. 159–182). Opladen: Westdeutscher Verlag.Google Scholar
  57. Smelser, N., & Swedberg, R. (2005). Introducing economic sociology. In N. Smelser & R. Swedberg (Eds.), The handbook of economic sociology (2nd ed., pp. 3–25). Princeton: Princeton University Press.Google Scholar
  58. Stein, S. (2011). Das Potenzial individualisierbarer Reiseführer: Eine Untersuchung von Gestaltungs- und Positionierungsmöglichkeiten individualisierbarer Reiseführer mit Hilfe mobiler Dienste. Stuttgart: Hochschule der Medien. Retrieved June 6, 2014, from https://www.hdm-stuttgart.de/mp/stuttgarter_beitraege/198/volltext.pdf
  59. Theis-Berglmair, A.-M. (2000). Aufmerksamkeit und Geld, schenken und zahlen. Zum Verhältnis von Publizistik und Wirtschaft in einer Kommunikationsgesellschaft—Konsequenzen für die Medienökonomie. Publizistik, 45(3), 310–329.CrossRefGoogle Scholar
  60. van der Wurff, R. (2005). Business magazine market performance: Magazines for the agricultural, business services, and transportation sectors in the Netherlands. Journal of Media Economics, 18(2), 143–159.CrossRefGoogle Scholar
  61. van Kranenburg, H. (2002). Mobility and market structure in the Dutch Daily Newspaper market segments. Journal of Media Economics, 15(2), 107–123.CrossRefGoogle Scholar
  62. Vatin, F. (2013). Valuation as evaluating and valorizing. Valuation Studies, 1(1), 31–50.CrossRefGoogle Scholar
  63. Vukanovic, Z. (2009). Global paradigm shift: Strategic management of new and digital media in new and digital economics. The International Journal on Media Management, 2, 81–90.Google Scholar
  64. Walls, W. D., & McKenzie, J. (2012). The changing role of Hollywood in the global movie market. Journal of Media Economics, 25(4), 198–219.CrossRefGoogle Scholar
  65. Wang, X., & Waterman, D. (2011). Market size, preference externalities, and the availability of Foreign Language Radio Programming in the United States. Journal of Media Economics, 24(2), 111–131.CrossRefGoogle Scholar
  66. Webster, J., & Ksiazek, T. B. (2012). The dynamics of audience fragmentation: Public attention in an age of digital media. Journal of Communication, 62, 39–56.CrossRefGoogle Scholar
  67. Wieland, D. (2004). Die Grenzen der Individualisierung: Sozialstrukturanalyse zwischen objektivem Sein und subjektivem Bewusstsein. Opladen: Leske + Budrich.Google Scholar
  68. Wirtz, B. W. (2005). Medien- und Internetmanagement. Wiesbaden: Gabler.Google Scholar
  69. Will, A., Gossel, B. M., & Brüntje, D. (2013). Breaking off common assumptions on media markets. Theoretical consequences from digital transformation. Paper presented at EMMA Conference 2013, Bournemouth.Google Scholar
  70. Wolling, J. (2009). Individualisierung der Mediennutzung. Perspektiven der Forschung. In H.-P. Schade, E. Schön, H. Walterscheid, & J. Wolling (Eds.), Individualisierte Nutzung der Medien (pp. 7–18). Tagungsband Medienforum Ilmenau.Google Scholar

Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.Ilmenau University of TechnologyIlmenauGermany

Personalised recommendations