A new movie is often the hot topic of conversation, however rarely do people take the time to consider the industry behind it. The film industry brings in well over 10 billion dollars annually, just in box office receipts. There are a few major studios which essentially monopolize the industry (not to say independents don’t have a chance to succeed). One of these major firms is Paramount Pictures. A staple of American culture for 100 years (the studio was founded in 1912) Paramount has brought the world some of its favorite entertainment. From Indiana Jones to Titanic to Shrek. My analysis of the scope and segment of the industry The modern film business is making films that they expect to be able to sell to all people domestically.
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Firms practice both marketing to all people (with films like “The Hunger Games”) and also to specific segments. They do this through making films of many genres; there are children’s movies, drama movies, horror movies, coming of age films, romantic films, and comedies just to name a few of the many. At any given time there could be several films out in any number of genres. The infrastructure is set up to accommodate the segmented population. “Many of today’s cinemas are multiscreen theater complexes. This format lets theater operators attract more moviegoers by offering a variety of films” (Amobie) The firms also have a variety of ways through which they can market to the different segments.
Through TV adds, social media, print and billboard adds, and a variety of other options entertainment firms are able to target specific market segments. One example is Viacom, the entertainment conglomerate which owns both Nickelodeon and Paramount, uses its television outlets (Nickelodeon) to promote upcoming films (from Paramount) to the specific audience of Nickelodeon (children). In additions to the movie industry having something to offer everyone it is available to most people financially. “Macroeconomic factors such as employment, consumer confidence, and personal income generally do not have a significant impact on the entertainment business.