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- W2329277637 abstract "Recent global economic recession impressed many aspects of modern societies and industries, which Media industry is one of the most influencing of them. This trend caused falls and collapses and in the enterprises and companies and damaged on the economies. However like any other social phenomenon, there is another face for the coin and that is the opportunities created during the recession. The recession destroys many established norms in the market and provides opportunity for new and efficient market mechanisms. In the normal situations there is severe resistance against essential changes, but in the crisis, the resistance breaks and mental readiness for any useful change creates. This is what the economic recession provides for media markets, by changing the media industry established structure towards a new more productive structure. The paper discussed on media entrepreneurship as a dominant emerging trend in the media industry, which is based on small media firms which joy from entrepreneurial characteristics such as risk taking, innovation, opportunity-seeking, allocating the resources and agility in act and performance. These elements enabled by the emergence of digital media which made the cost of media products lower and the facilities cheaper and talent more in access. Thus entrance to the media market becoming more and more possible for small media entrepreneurs and this is the trend which likely changes the market structure by domination of small media enterprises in the space which there are a few giants. The paper uses the concept of ‘Creative Destruction’ from the economist Juseph Schumpeter, to explain how media markets will benefit from the challenges of economic recession to convert the threats to the opportunities. The research uses literature review with expert panel to have contribution on the ‘efficient media market theory’ of Khajeheian from the entrepreneurial viewpoint of creative destruction. In case of research, this is triangulation of theory, which is using a theory from a disciplinary to have contribution in the other field of research; in this case entrepreneurship and economics to the media businesses.  Keywords: Media Market Structures, Global Economic Recession, Creative Destruction, Media Entrepreneurship, Media Economics" @default.
- W2329277637 created "2016-06-24" @default.
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- W2329277637 date "2013-08-31" @default.
- W2329277637 modified "2023-09-27" @default.
- W2329277637 title "Challenges and Opportunities of Global Economic Recession for Media Industry" @default.
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