Development Trends of the Domestic Media Industry

Abstract

The media industry is an important element of the information society and an integral part of the national economic system, which provides the public need for communication services and, in particular, such a resource as current information. As a component of the business environment, it ensures the production and distribution of media products and advertising. The media industry is characterized by the rapid pace of transformation of its structural components and the uneven dynamics of this process. The article considers the factors that will influence the development of both the global and domestic media industry. The main ones are: changes in the structure of consumption towards an increase in the share of digital media products, the appearance on the global market of new producers of media products, the development of media corporations, an increase in the advertising budgets of the share of Internet sources and online commerce, Internet security and legal regulation of relations with digital platforms, changing the speed of content creation due to the rapid development of technologies and artificial intelligence programs. The article notes that the adoption of the Law of Ukraine "On Media", in which the regulation of this sphere is coordinated with the relevant EU directives, should streamline organizational and legal relations in the media sphere and will contribute to updating its structure. The changes that took place in certain segments of the media market are highlighted. The television market of Ukraine was characterized by the concentration of TV channels in media holdings, and its structural and technical changes are related to the transition of television to digital broadcasting, the coding of satellite signals of TV channels, and the banning of a number of TV channels. The radio market saw a decline in the popularity of over-the-air radio and an increase in online consumption, with three quarters of the market divided between four radio groups. The publishing market is characterized by a reduction in the range of printed publications and their circulations, and the segment of periodicals is characterized by an accelerated transition to their electronic versions. The study of the changes that have taken place in the media sphere since the full-scale military invasion revealed their main factors, including: changes in infrastructure and reduction in coverage of the territory of Ukraine, reduction of the audience, changes in consumer preferences of target audiences, deterioration of the financial situation, etc. The further transformation of the media industry will be its reaction to the appearance of new challenges in the external environment.