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The changing nature of Brand Management in the Media Industry: Implications to the way we manage our brands in an era of stakeholder co-creation

Authors: Gray, M.

Conference: European Media Management Association

Dates: 11-12 May 2017

Abstract:

Against a backdrop of both transformation in the field of branding and a rapidly evolving UK media industry, a need for further understanding into the management of media brands is required (Malmelin et al 2014). By conducting a critical analysis of the literature surrounding the historical nature of brand management within the context of the media industry, this paper will add further knowledge to the nature and management of media brands in an increasingly co-created environment. This paper will present a theoretical framework on the nature of brand management in the media industry, concluding as to how brand management practice is changing and what that ultimately may mean to the management of media brands in the future. It is intended to add further to the discourse around Media Branding, providing relevance to the academic field and practical management of branding in the media industry. As Branding has become increasingly important in the media industry, as both a strategic tool to differentiate against competition and as a way to address and embrace change in consumer behavior (Picard, 2008; Siegert et al 2015), a continued research focus is required. Crucially, the effective management of media brands is seen as key for the success and survival of many media companies (McDowell, 2006a; Chan-Olmsted, 2014; Siegert et al 2015).

However, brand management as a discipline is entering an era of transformation (Jones 2012; Keller 2012; Kapferer 2012). Significant external drivers are exerting a need to change the remit, role and practice of brand management, shifting from one of ‘ownership’ to one more akin to acting as ‘hosts’ (Chan-Olmsted 2011). This change in branding has been typified as the 'stakeholder era' (Merz et al 2009) whereby brands now need to be managed with greater consideration to a wide range of stakeholders. There is general consensus amongst researchers that this new paradigm to branding challenges the traditional company centric approach and creates a need to better understand the impact on brand management ( Merz et al 2009; Fournier & Lee 2009; Hatch & Schultz 2010; Payne et al 2011; Gyrd-Jones & Kornum 2012; Ind et al 2013; Siegert et al 2015). In addition, the media industry itself is changing, and fast (Oliver 2013). Its future size and shape is unknown. With such a diverse and dynamic landscape, it has for some time defied precise definition (Hamel, 1996; Küng, 2008) and still it is transforming with changes apparent in structure, composition and business models (Küng, 2008; Aris & Bughin, 2009). The convergence of telecommunications, media and computing (Chan-Olmsted & Park, 2000) driving the dynamic nature of the media has led to a transformation in the way media organisations manage their business and corporate strategies (Doyle, 2013). Competition in media markets has intensified and markets continue to fragment (Ots, 2008). From a UK media industry perspective we are seeing the manifestation of these changes, with firms operating in an increasingly dynamic environment (Oliver 2015).

Against this backdrop of rapid change in the media industry we can add the complexity that is now playing out in brand management. This paper will therefore answer key questions that have relevance for the practical management of media brands and to the academic field of brand management; how have the management of media brands changed and what are the implications for the future? Key words Branding, Media Brands, Media Industry, stakeholders References Albarran A.B., Chan Olmsted S.M., & Wirths M.O. 2006 (eds.), Handbook of Media Management and Economics. London: Routledge

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