Partnership between Singapore Press Holding and IMDA
Discuss about the Analysis of issues & Trends in the Communication Industry.
This case study is about Singapore Press Holding and the Info-communication Media Development Authority (IMDA) which came into a partnership to produce and distribute short form digital video content on SPH multimedia platform as part of a pilot public service Broadcast (PSB) initiative. It will feature local content produced in both English & Mandarin on key themes. Secondly IMDA is launching a Writers Lab program in association with Lasalle College of Arts, Puttnam School of Film & Animation. This move was to keep the ‘Content on every screen’ theme prevalent throughout the year’s Asia Television Forum & Market and Screen Singapore, Up to 3 scripts will be produced & premiered on Singapore Mediacorp’s Toggle platform.
At present times, communication industry is fast growing with technological factors, in which they need to upgrade its technology.by following current need of the market. These industries are developing their customer services with new business prospects. By the implementation of multiple telecasts, television producers telecast episodes several times a day as they understand their customers that they can’t catch up their favourite show at a particular time slot. Channels made available these episodes online within few hours of its telecast. Television companies organise the channels by providing cable box in which viewer can make a subject wise organised group of his favourite channels. Like sports channels are grouped in sport group. They continuously add up new channels according to brand. Like IPTV is an app by American wrestling company for live wrestling events. They made a no Advertisement Model in which Netflix is leading member for no ad model. They majorly focus on regional Market by giving importance to the national and foreign audiences by launching programmes in different languages (Bharti, Balaji & Meitei, 2011).
When any communication industry wants to grow in the market with its best quality content and technology, it hinges with some issues which hinder the growth of these industries. Expensive New Media Technology is one of the factors which are an obstacle in the growth of media industry. New Media technologies are very expensive and it increases the cost of running commercials and production. This high expenditure of technology also includes indirect tax burden levied in the entertainment sector. New market entrants are also the key challenging factor for any media industry where they come up with new policies and content which is attractive for the customers and shrinking for both the recipient market and advertising market (Lee, 2014). Some industries run its business with its old or similar working process for a long time and by this way loses its customer. They have a lack of Innovation in their content to retain the customers. It is necessary to develop interactive media products and improvement of technology for efficient media operations. With this by decreasing recipient which is a result of decreasing interest of audience causes low television rating points. Few media industries are lacking in their internal infrastructure which is important for resource supportive application, improved manageability and performance (Cunha, 2002)
Challenges faced by the communication industry
These media industries should take initiatives in Environmental Protection by publishing columns and program featuring on environment. Publishing materials on the environmental friendly product which is beneficial for the public at large. Relationships building by interacting with its customers and increasing its digital boundaries with innovation, creating websites and mobile application. This task of engagement is done by designing the content of writing according to the targeted audience to get their focus on the material. By making attractive headlines of the content to get the audience’s attention. Material in the print media should be with positive framing (Domingo, Quandt, Heinonen, Paulussen, Snger & Vujnovic, 2008). These industries should grow in a targeted Market. This initiative was for a group of audience who are interested in a particular topic in targeted magazines or newspapers. Targeting audiences were of particular profession, interest or region. Cost effective strategy was used to target the audiences in less expensive manner by making the promotions more effective and efficient. Negotiation was used to effectively minimize the cost with publications at a lower price when they are close to the deadline.
A communication industry needs to maintain its standards and norms for the better procedures and policy maintenance. For that reason every industry needs to be governed by some regulatory authority and follow its rules. Media and communication industry which is Mediacorp and Singapore Press Holding should also alien their initiatives with the Singapore Ministry of communication which is IMDA. Infocomm Media Development Authority (IMDA) is the regulator who aims at contributory and vibrant market. It helps in growth of the industry and innovative services. These communication industries alien their initiatives by developing their content and publishing procedure according to the regulatory measures, trends and policies (IMDA, 2017). For the sustainable growth and effective competition industry should review its policies and technological development to measure them with the social values and norms. The expertise opinion of stakeholders and consultation with the regulatory authority is necessary at the time of formulating new policies. Any industry works for their customers and these industries make their norms and policy with the social standards and values. Regular innovation and experiments enhances value to the consumer’s value and standards. Communication industry mainly targets their audiences with a particular group to engage them with their content as regular reader.
A communication industry works on some particular models or ethics to meet its consumers’ needs and demands. These models are mainly Market model and public sphere model. Mediacorp and Singapore press holdings while facing the challenges in the market and taking initiatives to overcome them, consider these two models. The market model deals with the needs of the society which met by the industry with an exchange process of demand and supply. In this model media is also taken as a goods & services. Any initiatives taken by the media industry is with the consideration of market model. To encourage efficiency in the procedures and price standards, market models are implemented. Because they constantly increase profits with a lowest cost. To implement these models industry needs to establish a regulatory framework. Responsibility towards the public at large is increased or maintained at some level with the principle of supply and demand. Market works on the principle of demand & supply, as the demand of consumer’s increases supply of the product also increased. Flexibility in the industry is necessary in the frequently changing market conditions and that comes with the adaptability of market conditions. Innovative approach which is adopted by the communication industry to face the challenging circumstance is based on the market economies. Innovative approach is adopted by the market players to be a dynamic industry. Unwillingness of market player to take a risk in producing innovative products can lead to less competition. This result into less choice for consumers. On the other hand the model of public sphere was suggested because it was felt that all the needs of society cannot be fulfilled with the market model because societal needs cannot be fulfilled just by demand and supply dynamic. Profitability of the media industry cannot be the only indicator of healthy industry. For that reason government also plays an important role in assessing the performance of industry. With that, public sphere model consists of society, government and media. Coordination between these three organisations results into developmental outcomes of the industry (Habermas, 1984). With the basic understanding of the concept media industry follow this model for their initiative programmes to make the media widely accessible for the public at large without the intervention of the government. This model of public sphere talks about serving people not targeting their consumers. While taking any initiatives, media industry keeps in mind the participation and accessibility of the citizens (Mediacorp, 2016).
Strategies for growth in the communication industry
These industries which are Singapore Press Holdings and Info-communication Media Development Authority and came into a partnership to produce and distribution of short form digital video content on SPH multimedia. Secondly Singapore Inforcom Media Development Authority (IMDA) that launched a Writers lab program in association with Lasalle College of Arts to keep the content on every screen. In the process of the new partnership and launch program these media industries work according with the current trends of the media industry. Television industry was trending currently for the multiple telecasts, regional market, organising channels, adding up new channels and with no advertisement models. But these media industry faced many challenges also while balancing with the current trends, which were like the expensive technology, market entreats, lack of innovation and so on. For these challenges, media industries took some initiatives to overcome them which were in the form of building relationships, targeting market, cost effectiveness, engagement of the audiences with the content and by launching environment friendly programs. Any initiatives taken by the media industry was with the alignment to the policies and procedures of the Singapore’s ministry of communication. The media industry works on the model of Market and public sphere for the better regulation of their content which was taken as exchange of demand & supply and governmental regulations for the better access of media content for the citizens.
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