James Murdoch Calls Digital Media Space An "Unprecedented Competitive Environment"
Summary
Fox's plan to take full control of Sky is good for the UK creative sector, says James Murdoch in his speech at a London conference on Thursday March 2nd. He touted the entertainment conglomerates commitment to media plurality and said the digital age is an "era of ultimate plurality". Murdoch argues that there has been no other firm so committed to increasing plurality across the markets we operate in. The Fox CEO emphasized that "a commitment to creative excellence" is key to success for the company and vowed to continue investing in it. James Murdoch says "the U.K. figures heavily in that" focus on creative excellence, saying: "Together 21st Century Fox and Sky invested around 700 million pounds ($860 million) last year in original production in the U.K. alone".
Key Statistics
- Fox is expected to formally notify the European Union in the coming days of its 11.7 billion pound ($14.4 billion) bid for the remaining 61% of European pay TV giant Sky.
- The UK creative economy has such great potential so it is believed it is the best place to be proposing a nearly 12 billion pounds ($14.73 billion) investment, we Fox believe will be a significant driver of the UK creative industry's long term success in the global market.
My Opinion
I agree with what James Murdoch says in regards to digital media being a space of unprecedented competitiveness. As soon as NDM made its name in the industry it was something that everybody had to have and nowadays everybody is attempting to use it to its full potential and develop what they already use. However, it is a very competitive market because nobody fully understands the digital space as it is still developing so companies seem to either copy each other or do things that are very similar to one another making the market therefore very competitive and hard to keep your business name at the top of the environment.
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