Wednesday, March 12, 2014

Entertainment in World Economy

     As we know about the enhance of globalization in these several years, globalization created much ideas and inventions for today. With the capability of great technology that evolved, we have an easy way to know whats hot about the world right now and also to have them as ours. In other way, globalization is the most power of global trade which bring much profits that it could takes. In global trade, we are not discuss about goods as products only but also the arts. If we talk about art, we talk about entertainment.
    Entertainment. How much do you hear about these genres of songs; pop, country, rock, kpop, dangdut, and etc or how much do you watch horror, drama, thriller, musical, action movies? So much. Today, entertainment industries are globalize because many people in this world have an interest of another country’s art and also it has big profit because it’s one of the most worldwide seller. Avatar for example, one of movies that created much profits. The budget for making the film was USD $425 M and the gross was USD $2.8 B after the worldwide viewed. That was big number in Hollywood. With an open door of globalization, global trade made that profits. Now, entertainment world has its opportunity in global economy because everyone needs and craves for it.
    The development of entertainment in world economy is increasing highly. Today, the segments of entertainment not only in media or animation but also in hotel or resorts and parks. Let’s say the Walt Disney Company for example, which has Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive as its business segments. The Walt Disney Company’s market cap reached USD $103.96 B in last year.
    Entertainment industry is very valueable, not only for the company its self but also to country. The entertainment could less unemployment people because there are so many task to do to develop one company, as Chief Economist with the Los Angeles County Economic Development Corp., which Los Angeles is the entertainment capital of the world, Robert Kleinhenz, he said “the entertainment industry supported 586,000 jobs and had an annual output $47 billion that equivalent 8.4% of the county’s annual economic output and also it helped the country to less unemployments people because its total employment was 16.9% higher in 2011."
    So, we can conclude that the entertainment industry is very good at making benefits because everyone loves entertainment world and also entertainment industry is one of the big actors in world economy which brings profits to its company and its country and also another country that had joined to cooperate with the entertainment industry. For domestic case, the benefits that come can be used for reduce the poverty, less unemployments, make welfare nation, modernize the country, or do anything else to develop the country. For international case, the globalize of entertainment sectors is because of the globalization and global trade that contributes in it. So, that makes it easier, many companies from different states cooperate together and have a good relations and also each state can promote to another state about its art and grow the economy.

Posted by,
Safira Damayanti


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