The European Multimedia Sector - consumers, business and regulation 2600-MSdz2EMSCBRen

The course analyzes the European Multimedia Sector (EMS) seen as a key driver of the EU digital economy, but simultaneously also a significant socio-political arena. It focuses on its impact on the position of EU individuals (consumers) and business challenges posed by its economic dependence on foreign digital giants (mostly Google, Apple, Facebook, Amazon, Microsoft). The course also considers the turbulent relationship of the EMS with public authorities in their efforts to facilitate the EMS and to regulate it effectively. Central to the discussion is the significant and persistent weakness of the EMS in the global context, partially caused by its historical fragmentation and two decades of austerity measures, insufficient level of investments, especially in R&D, as well as by the regulatory strictness protecting the rights of European entities, which overall cause the low productivity of the European economy, including the EMS.
The course looks at the realities of media globalisation, from the perspective of EU companies, individuals and regulators. Focus is placed on the key role of ‘content’ (traditional/professional and user generated) for the development of multimedia in economic and socio-political terms. Emphasised are also the problems deriving from market power held by foreign digital platforms in their relationship with traditionally defined consumers (viewers & users ie B2C relationship) as well as those that are simultaneously also content creators (B2C & B2B relationship). Modern advertising techniques and the collection and use of Big Data for that purpose is considered in particular as is, the growing impact of self promotion, direct viewer financing, and cross industry activities originating from the multimedia sector. Shifts brought about by the covid pandemic are also considered, from a short and long term perspective, as they continue to affect consumers (eg growing screen time), businesses (eg explosion of streaming platforms and simultaneous decline of cinema markets) and regulators (eg priority in ‘supervising’ foreign gatekeepers).
The course will discuss the struggles of public authorities in Europe aiming to protect EU individuals and somewhat shield, and even aid, EU business initiatives, by tackling specific anticompetitive and/or market practices of foreign digital giants classified in the EU as infringing the rights of EU consumers and businesses. As to sectorial regulation, the newest version of the European Audiovisual Media Services Directive is considered together with the Digital Markets Act and Digital Services Act of 2022, and the recent European Media Freedom Act of 2024, especially their expected impact on platforms such as Facebook or Amazon. Subsequently, examples will be given of individual application of European Competition Law towards dominant companies such as Google and most recently Apple, as well as mergers and acquisition review that involve major companies such as Disney and Microsoft and their impact on the EMS overall.
One of the purposes of this course is to identify specific dangers, advancements and opportunities that are presenting in the European Multimedia Sector. Among the discussed dangers are: persistent failure to protect minors on YouTube, appropriation of content and fake news of social media, infringements of privacy on Facebook, and internet addiction fuelled by the emergence of short form content. Advancements include: Netflix’s positive impact on the internalisation of content production and consumption within the EU, as do, albeit arguably, the introduction of short form content spearheaded by TikTok in 2020 and the recent diversification of subscription tiers by streaming platforms. New opportunities include: the creation of diverse multimedia-specific creative and managerial jobs; and the internalisation of job markets. Noted opportunities can also be found in the varied EU funding schemes available to ‘European’ business initiatives. Considering most recent developments, the course will also discuss the emergence of AI tools, which simultaneously pose dangers, facilitate advancements, and create opportunities for the future of multimedia and all its stake holders.