Generalizations on marketing strategies for the media & entertainment industry

On Wednesday, 1st of February, Prof. Dr. Alexa Burmester will hold her inaugural. The lecture is open to the public. After the lecture there will be a buffet and drinks. 

While attendance is free of charge, we only have limited seats available. Please register ahead of time via e-mail at: events.faculty@klu.org with your full name and organisation. Please consider this carefully because we are booking a caterer for this event.

• Registration mandatory by e-mail.
• Reception after lecture.
• Venue: Forum / Foyer.

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The media and entertainment industry is characterized by high production costs, short life cycles, and high consumer uncertainty about quality before consumption. This leads to extreme successes but also to great failures in the business. Therefore, marketing strategies play an important role and must be tailored for the entertainment business. This research analyzes various marketing mix aspects and generalizes strategies for the media and entertainment industry. After providing an overview of different media and entertainment projects, this lecture dives into a meta-analysis of advertising elasticities in the entertainment industry. 
How does advertising affect supply and demand in the entertainment industry? Different advertising and distribution mechanisms and unique product characteristics limit the transferability of findings from other industries to the entertainment industry. This meta-analysis focuses on 290 documented elasticities, drawn from 59 studies of movies and video games, and establishes new findings and empirical generalizations. First, the average advertising elasticity in the entertainment industry is .33, approximately three times higher than the average identified for other industries. Second, average advertising elasticities are higher for demand (e.g., revenue) than for supply (e.g., screens). Third, elasticities tend to be rather recession-proof and consistent across geographic regions but decreased after the rise of social media platforms.

Alexa Burmester is Assistant Professor of Applied Quantitative Methods at Kühne Logistics University. Before joining Kühne Logistics University in 2021, Alexa Burmester was a post-doc researcher and Habilitand at the Institute of Marketing & Media at University of Hamburg, Germany. She received her PhD in Marketing at the University of Hamburg (Germany) and she holds a Diploma in Business Administration from the University of Hamburg. Alexa Burmester's research focuses on solving methodological challenges in the context of quantitative data. Her research topics are driven by real-world problems from practice and cover marketing, media management, digitalization and sustainability. She has worked with entertainment companies like Warner Bros. Entertainment, CinemaxX and Books on Demand. Her research has been published in International Journal of Research in Marketing, Journal of the Academy of Marketing Science and PLOS One. She achieved the 2nd place at the EMAC McKinsey Marketing Dissertation Award and her work received the Best Paper Award of the International Journal of Research in Marketing in 2015.