Media convergence isn’t just the act of combining previous mass media outlets with newer ones to be up-to-date, but rather the economic strategy behind doing so.
When I thought solely on the economic aspect of media convergence the first thing that popped into my head were all the major franchises that trace back to novels or comic books. For example, the respective creators of Transformers, Harry Potter, Batman, Superman and The Dark Knight Rises have all been able to capitalize in major ways through media convergence. Their ideas that started out as comic books like Batman, Transformers, and The Dark Knight Rises or books like Harry Potter have been built up to become billion dollar brands. Each one of those titles has gone from print to movie theatre screens, action figures, websites, Halloween costumes, theme park rides and everything in between.
Knowing how to wipe off the dust from an old idea and capitalize on it through newer mediums is just as important as creating ideas from scratch. I believe that upon recruiting new employees, many companies are as equally interested to see what new ideas and strategies a person can bring with them, as well as how a person can take what the company already has an make it bigger and better.
Is there anything that you believe could grow through media convergence but hasn’t? Why do you think that is?
Superman The Ride at Six Flags Great Adventure in Trenton, New Jersey
Harry Potter and Hermione Granger Halloween costumes from PartyCity.Com
Transformers Optimus Prime action figure