SYNERGY Synergy Definition: is the term used to describe a situation where different enteritis cooperate advantageously for a final outcome.
Simply put, it means that the whole is greater that the sum of its parts.
Linking up different companies to make profit from one product. These different companies are often subsidiaries of big conglomerates as this generates the most profit. It is the strategy of synchronising and actively forging connections between directly related areas of the entertainment industry. In recent times new technologies support this process massively. For example the use of web, dvd, downloading and broadcasting have allowed a wider mode of distribution of different productions, meaning more money for the conglomerate. These institutions exploit their subsidiaries to sell the film at a greater level as well as introducing new products to sell relating to the film. E.g. clothing franchising, soundtracks or video games. A great example of this is the High School Musical Movies. High School Musical & Synergy:
OUTLET
For example the conglomerate ‘Walt Disney’ Will use its subsidiaries in order to make the most profit from one product. For example HSM shows at Disney Land, or soundtracks, dvd, clothing etc…
Conglomerates can do this as they have media ownership. Media ownership is where organisations control increasing shares of the mass media. This is how it might work with certain conglomerates:
(Taken from my post called ‘Film Institutions’.)
SYMBOLOSIS:
This is when different companies work together to promote a range of related products. E.g. High School Musical the film will enable spin-offs like Happy Meals, Easter Eggs, bedlinen, toy characters etc and the distributor will agree licensing deals for companies to make and sell this merchandising. A percentage of the profits will go back to the distributor Walt Disney pioneered symbiosis marketing techniques in the 1930s by granting dozens of firms the right to use his Mickey Mouse character in products and ads, and continued to market Disney media through licensing arrangements.
CONVERGENCE: Convergence is the process by which a range of media platforms are integrated within a single piece of media technology. For example the new X Box 360 is a games console, a DVD player, an internet modem. The iPhone is a phone, a camera, a video camera, an mp3 player, an FM radio, a games console, a web browser, a palmtop computer. This demonstrates ‘convergence’ of a wide range of technologies. Media institutions recognise that audiences enjoy using converged technology, want to consume media in a variety of different ways (including ‘on the go’) and provide short form content for downloading eg video clips, trailers, music videos, jingles, wallpapers, music tracks etc
IMPORTANT POINT TO THINK ABOUT: In order to properly make the most profit from your one product its important to properly think about - production - distribution - marketing - exhibition - merchandising
Above are all five important aspects regarding films such as Merchandising, this is done to increase profits - For example: George Lucas (Star Wars Director) George went to Fox with a proposition. He offered to keep his salary at $150,000 in exchange for two seemingly insignificant requests: 1) That he retain all merchandising rights, and 2) that he would retain the rights to any sequels. at the time this was actually a fantastic deal for the studio However, Between 1977 and 1978, Star Wars sold $100 million worth of toys. 35 years later and Star Wars themed toys have generated $12 billion worth of revenue. Today, Star Wars licensed toys produce $3 billion a year in revenues.George Lucas essentially traded $350,000 for more than $7 billion.
by erin barber.