New Media Business Philosophy in Conditions of Mass Media Convergence

Ekaterina A. Baranova 1 * , Marina R. Zheltukhina 2, Anna A. Shnaider 3, Larisa L. Zelenskaya 4, Larisa A. Shestak 5, Ekaterina A. Redkozubova 6, Lidia B. Zdanovskaya 7
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1 Communicative Management Department, Journalism Chair, Russian State Social University, Moscow, RUSSIA
2 Institute of Foreign Languages, Volgograd State Socio-Pedagogical University, Volgograd, RUSSIA
3 Faculty of Philology, Peoples’ Friendship University of Russia (RUDN University), Moscow, RUSSIA
4 School of Governance and Politics, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs Russian Federation (MGIMO-University), Moscow, RUSSIA
5 Institute of Russian Language and Literature, Volgograd State Socio-Pedagogical University, Volgograd, RUSSIA
6 Institute of philology, journalism and cross-cultural communication, Southern Federal University, Rostov-on-Don, RUSSIA
7 Department of Foreign Languages, Kuban State Agrarian University, Krasnodar, RUSSIA
* Corresponding Author
Online Journal of Communication and Media Technologies, Volume 10, Issue 4, Article No: e202021. https://doi.org/10.30935/ojcmt/8387
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ABSTRACT

The article discusses the problems of new media business philosophy in conditions of mass media convergence. The main directions of philosophy of modern media business are considered. The choice of a way is defined: accurate information reflection of reality or information monetization. It is established that with the advent and development of various types of media, different models of mass media business philosophy were transformed, which were formed in the first half of the 20th century. However, the process of mass media convergence that began at the end of the 20th century and the beginning of the 21st century led to global changes not only at all stages of creation to distribution of content but also in the search for other models for the development of the media business philosophy. This article analyzes the philosophy of innovative models for financing media business in conditions of mass media convergence. The empirical base of the research was made up of materials from online publications, reviews of the media markets in Russia and the world, as well as the results of interviews with the experts interviewed on the topic of the monetization philosophy of media business in terms of convergence. The authors identified the following models of media business philosophy in conditions of mass media convergence: 1) product range expansion – sale of content and other goods; 2) data transactions – sale of received data and their visualization; 3) material optimization on space and time – cost reduction by eliminating waste. The considered models of new media business philosophy for the development of the media business in conditions of mass media convergence can only be viewed as additional sources of financing in the 21st century.
Keywords: media business philosophy, media language, mass media convergence, information monetization, accurate information reflection of reality, business models, data journalism

CITATION

Baranova, E. A., Zheltukhina, M. R., Shnaider, A. A., Zelenskaya, L. L., Shestak, L. A., Redkozubova, E. A., & Zdanovskaya, L. B. (2020). New Media Business Philosophy in Conditions of Mass Media Convergence. Online Journal of Communication and Media Technologies, 10(4), e202021. https://doi.org/10.30935/ojcmt/8387

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