His book is called “The Cultural Industries” His work is about tracing the relationship between media work, media workers and the media industry.

The venerable and precarious nature of a career in the creative industry can be described as more relying on luck/chance, for someone who successes in the creative industry their are many people who do not.

The façade of the industry that it will be very creative is very misleading and attracts people under the belief that people will be hard working and creative however this is likely not the case.

How do companese in the media companies minimize risk:

They can take advantage of specific products that have less competition- such as movie ideas that haven’t been done before; thinking outside the box, more outrageous. They could also take advantage of past successes by repeating ideas that did particularly well, such as creating sequels to films that have had high consumption rates. By mergers existing (such as Netflix) companies can merge one aspect of media into another, such as Netflix going from being a distribution platform to producing their own content (Netflix originals), this is horizontal and vertical integration.

Companies can also be more successful with the consumers help, such as higher reviews on films, all three aspects are incredibly important towards the industry (Production, distribution and and consumers).