Business Model: Economic Value and Sociocultural Impact

The article examines the reasons for Netflix's economic success. It is noted that Netflix's growing popularity is an example of the processes of digitization and globalization characteristic of modern cultural industries. Among the main reasons for Netflix's economic success are an ef...

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Autor principal:	G. D. Paksiutov
Formato:	article
Lenguaje:	RU
Publicado:	Plekhanov Russian University of Economics 2020
Materias:	digitalization globalization streaming services film industry cultural industries Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/4ef59f399cf8439fa7a8a0c6bda0922a
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id	oai:doaj.org-article:4ef59f399cf8439fa7a8a0c6bda0922a
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spelling	oai:doaj.org-article:4ef59f399cf8439fa7a8a0c6bda0922a2021-11-15T05:20:49ZBusiness Model: Economic Value and Sociocultural Impact2413-28292587-925110.21686/2413-2829-2020-3-145-156https://doaj.org/article/4ef59f399cf8439fa7a8a0c6bda0922a2020-05-01T00:00:00Zhttps://vest.rea.ru/jour/article/view/876https://doaj.org/toc/2413-2829https://doaj.org/toc/2587-9251The article examines the reasons for Netflix's economic success. It is noted that Netflix's growing popularity is an example of the processes of digitization and globalization characteristic of modern cultural industries. Among the main reasons for Netflix's economic success are an effective automatic system of recommendations and a high degree of vertical integration – a combination of the service of all stages of the film business: from the decision to produce content to its display to final consumer. The impact of Netflix on the practice of consuming films in the digital age has been considered, noting that the automatic system of recommendations used by the service and algorithms of search optimization can pose a threat to the free choice of consumers. Netflix's success is seen in terms of the West's unsymmetrical influence on global culture. The author concludes that Netflix's model is an example of the growing commercialization of cultural industries, the commodification of culture and carries certain risks of an aesthetic and cultural nature. However, it shows economic feasibility. For minimization of the related sociocultural risks it is important to keep alive a variety of forms of cultural production and consumption – a task in which the state can play a significant role.G. D. PaksiutovPlekhanov Russian University of Economicsarticledigitalizationglobalizationstreaming servicesfilm industrycultural industriesEconomics as a scienceHB71-74RUВестник Российского экономического университета имени Г. В. Плеханова, Vol 0, Iss 3, Pp 145-156 (2020)
institution	DOAJ
collection	DOAJ
language	RU
topic	digitalization globalization streaming services film industry cultural industries Economics as a science HB71-74
spellingShingle	digitalization globalization streaming services film industry cultural industries Economics as a science HB71-74 G. D. Paksiutov Business Model: Economic Value and Sociocultural Impact
description	The article examines the reasons for Netflix's economic success. It is noted that Netflix's growing popularity is an example of the processes of digitization and globalization characteristic of modern cultural industries. Among the main reasons for Netflix's economic success are an effective automatic system of recommendations and a high degree of vertical integration – a combination of the service of all stages of the film business: from the decision to produce content to its display to final consumer. The impact of Netflix on the practice of consuming films in the digital age has been considered, noting that the automatic system of recommendations used by the service and algorithms of search optimization can pose a threat to the free choice of consumers. Netflix's success is seen in terms of the West's unsymmetrical influence on global culture. The author concludes that Netflix's model is an example of the growing commercialization of cultural industries, the commodification of culture and carries certain risks of an aesthetic and cultural nature. However, it shows economic feasibility. For minimization of the related sociocultural risks it is important to keep alive a variety of forms of cultural production and consumption – a task in which the state can play a significant role.
format	article
author	G. D. Paksiutov
author_facet	G. D. Paksiutov
author_sort	G. D. Paksiutov
title	Business Model: Economic Value and Sociocultural Impact
title_short	Business Model: Economic Value and Sociocultural Impact
title_full	Business Model: Economic Value and Sociocultural Impact
title_fullStr	Business Model: Economic Value and Sociocultural Impact
title_full_unstemmed	Business Model: Economic Value and Sociocultural Impact
title_sort	business model: economic value and sociocultural impact
publisher	Plekhanov Russian University of Economics
publishDate	2020
url	https://doaj.org/article/4ef59f399cf8439fa7a8a0c6bda0922a
work_keys_str_mv	AT gdpaksiutov businessmodeleconomicvalueandsocioculturalimpact
_version_	1718428612665802752

Business Model: Economic Value and Sociocultural Impact

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