New Media Economy
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Course code
BFM6145.FK
old course code
BFM6145
Course title in Estonian
Uuenev meediamajandus
Course title in English
New Media Economy
ECTS credits
3.0
Assessment form
Examination
lecturer of 2020/2021  Spring semester
lecturer not assigned
lecturer of 2021/2022  Autumn semester
lecturer not assigned
Course aims
The objective of the course is to give an overview of the rapidly transforming field of media economy, its basic terminology and key questions, and changes in the business, production, and distribution models. Broadly, the course gives the participants practical knowledge and skills to analyse and contextualize the transformation in the media economy, to understand key subjects, platforms and companies and their influence in the fields of media technology and innovation and audiences, and to recognize and apply concepts such as value chain, platform economy, curation / algorithms and data-driven economy, and new business models. Lastly, the course introduces the main information sources, industry and academic literature and their use & application in practical and academic work.
Brief description of the course
The course gives an overview of key concepts and practices related to the transformations in the media economy including:

● key concepts in media economy
● why and how media economy is changing, and how does it impact creators, producers, distributors, and audiences
● value chain and how does it relate to media economy
● New business models in content and media industries`
● exponential growth, its major components and effects?platform economy, its impact, and how major platforms operate and utilize network effects
● convergence and why audiences are central in new media economy
● Artificial intelligence, gamification and curation algorithms and their impact on the media industry
● prevalent models in digital content delivery, blockchain, streaming wars and what these mean to creators, distributors and audiences
● the future of media economy heading and what are the relevant technologies and innovations in the near future

Additionally, the students will learn:
● recognize, analyse and present key theoretical, practical and innovation related concepts in media economy
● discuss the role of value chains, business models, platforms and technologies and why these relate to their field of study
● perform and present collaborative group work around reading and project assignments
● attend and report from relevant industry events and conferences
Learning outcomes in the course
Upon completing the course the student...
Upon completion of the course the students:
● are aware of the main theoretical and practical approaches, central concepts and most relevant theories about media economy, its transformation, and related technological and innovation-driven concepts
● are aware of business opportunities and different value chains, business models and solutions in media and content industries
● are able to independently and in group work to identify and w and present these in class
● are able to write concise, analytical and referenced reports on assigned readings and industry event(s) and relate these to their field of study
Teacher
Sten-Kristian Saluveer
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