Internet's network effects and media theories in entertainment industries
What is it about?
The Impact of the McLuhan Effect on the Online Entertainment Media Industry. According to McLuhan's theory of 'the medium is the message,' the medium itself shapes the user experience and demand. In the context of internet convergence, the goal of the entertainment media industry is to disseminate content and transform the value of entertainment content through consumer feedback and emerging entertainment environments, such as VR. This effect has reshaped the ways in which entertainment content is produced, distributed, and consumed, making the form of content as important as the content itself.
Why is it important?
The Metcalfe Effect and the McLuhan Effect have jointly driven profound changes in the entertainment media industry. They explain why and how internet technology has fundamentally altered the ways in which content is created, distributed, and consumed. At the same time, these effects reveal that in the internet era, the value of entertainment content not only comes from the content itself but also from user engagement and network effects. This has prompted the industry to rethink its business models and revenue sources.