Explaining the Star Shift in the Media– Why “Manufactured” Celebrities are More Lucrative than “Self-Made” Superstars
Media companies enjoy increasing marginal returns if more customers watch a program. The viewer drawing capability of stars serves as a prominent instrument to increase audiences. However, lately there has been a significant shift in the kind of stars employed by the media from “self-made” superstars to “manufactured” celebrities. Our paper analyzes this trend exemplified by shows like e.g. Pop Idol and explains its driving forces by comparing the abilities of different kinds of stars to generate and to capture value.
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