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Lecture 4

Lecture 4- 30th September, 2013.docx

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Clayton Childress

Society and Media SOCC44 Lecture 4 30 September, 2013 The Ups and Downs and Downs and Downs of being an artist. The Business Podcast - what’s going on with special effects people - People aren’t coming to see Rihanna in Battelship but they are going for the special effects. - They say how is Rihanna getting all this money and they are going out of business. - Where is the business of visual effects going to, Canada. - Brad Pitt for example, they need this ship to be explode, and the studios are in America, and Canada and China. But they need the Brad Pitt to do it. - Vancouver stated the film subsidies, they are going to pay people to make movies in Vancouver and then people will come to their cities. Then all other cities decided try this. - Woody Allen make movies in Europe and that’s because the European government pay for them. - This is called the race to the bottom; it is saying that towns are competing to get the new target. For instance even if they wanted to open a Canadian tire, different cities will compete for it, by offering different deals, and eventually they keep losing money. Thus, Race to the Bottom. Confidence Game - probably heard one sided story about the media, so he wanted to give another side to it - the question that mass amateuriztion poses ti traditional media is what happens to costs of reproduction and distribution go away. - Reproduction and distribution is marginal cost - However the most expensive is the fixed costs, because this is the money that you spend producing the product, and you don’t even know if its going to be a hit - You know enough that reproduction and distribution is not where the problem is. - The media field that they are interested in is Journalism. They say that we are going to have an online information for free, and they should give it to us for free, because we are going to find out ways to get it free anyways. - One of the questions we have here is game changing information, long term journalism, investigating a problem for a couple years takes money. When you are taking on a big institution, you need an institution behind to say hey you think we might have something at that part of the country, oyu need someone to say heres the money to do this. For all the things that Gurus have promised they haven’t been able to give a long term journalism, - You are part of an institution. The up side of being part of UTSC, it makes your job easier in the long run. - For the most part when we interact with institution we complain about them all the time, because they are there. - The TTC, is the worst, but without them life is very hard Meet the New Boss, Worse than the Old Boss - New institution don’t pay anything while old boss used to pay - If you wanted to make a book, you can write a book and sell it to Amazon, - Every single copy of every book on Amazon, their profit margin is 370 000 %, because marginal cost have pretty much approached - How much does it cost Apple to upload a song and have you download it, nothing, it costs them nothing The Creative Class - Tours around and tells people how they can make money, and that they should get the creative class - Scott Timburg says that the creative class is a lie, they are making it up for the loss of factory work. - All these professions are going away Baumol’s Cost Diseases - it is getting more expensive to make art - If you were to make a Saw in 1813, it would take a day, by 1913 productivity has increase and there are factories, and not it takes 2 hours, now in 2013 it takes like 5 minutes - If you are to write a song, it takes the same amount of time, in 1813, 1913, and 2013. Nothing has changed. - So saw has gone dramatically down in price because we have gotten more productive, however songs, have gone up in price because we haven’t gotten productive - This is referred to Baumol’s Cost Effect. - People tend to cut back on quality, and raise the price - But for an artist they don’t do that, they say that’s not what they are about, they are more about the quality, so they aren’t going to cut down the time they take to make a book, Old Media Socialism - if you are given an advance, to start up as an artist, and then even if you don’t make that money back you don’t have to give that money back - however in the 21 century, Penguin said that they were going to start suing people who they given advances to and they didn’t give them the book. - Funny thing happens here though. What % of artists actually earn their advance and make a profit for the firm. About 7 % - Meaning that the one or two people who are earning their advance, are earning it in way more. They are earning so much advamce that it is paying for all the other recording artists advance. - For artists , if you prefer the democratic and something happen to you, the old media industries were kind of like Canada, you can take a big risk and fail and didn’t have to move back in with your parents. The new industry is like the United States, where one individual becomes successful, and the rest sits on the streets. - We have this back door of social meadia, even artist who don’t do well make some money Shifting Risk in A Brave New World - one of the things in the new media world, is that all of the risk has been shifted over to
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