Traditional media companies in the U.S. and social media: What’s the strategy?

Abstract

Traditional media companies continue to deal with change brought about by technology, forcing many firms to embrace “new” media with the introduction of the Internet, smart phones, and other distribution technologies. Now, social media has become another platform available to engage consumers. Social media has been widely adopted by consumers, and media companies have had to follow suit by developing their own social media efforts. Clearly, every media company needs a social media strategy. But how are these traditionally-based companies addressing this strategic challenge? What are they doing to implement and integrate social media as part of a comprehensive digital strategy? How is success being measured? Are there areas where social media is being monetized? Are there new business models emerging? This chapter addresses these questions by conducting a case study using a sample of traditional media companies based in the United States to understand how social media is being used and integrated in their operations.