Media research on economic management and its contribution to the development of new media

Introduction.

The mass media are of great importance to society today. Their role in politics, culture, informing citizens and shaping values is recognized all over the world. However, in Russia, not enough attention is still paid to the economics of the media as an important part of the national economy and a separate scientific discipline that studies the peculiarities of media work in relations with business, government and society [1].

The media plays an important role in the growth of the economy, although such an impact is not immediately noticeable. The media connects the economic entities (agents) of the country.

It is necessary to define the concept of economic entities for a more complete understanding of the relationship between the media and the economy. Economic agents or entities are individuals and legal entities, business partners, heads of commercial and government companies who actively participate in the economic activities of the state, creating, distributing and using goods and services. These include buyers, manufacturers, sellers, businessmen, depositors, government and financial organizations. sellers and buyers through promotional materials and information [2].

In simple economic conditions, the meeting of sellers and buyers takes place in a real format on the market. When the demand for various goods and services exceeds the capabilities of the physical market, the role of mass media increases, influencing the opinion of buyers.

The media can also influence consumer demand by influencing the choice of buyers, as well as changing their minds. Similarly, the media can encourage purchases from people. Thus, the media influence the formation of consumer needs [3].

That is why mass media is important for the economy, because the media industry has a direct impact on making a profit. Media is also important to meet the needs and demands of society. There is a special term for the close relationship between economics and the media: Media Economics, which studies the conditions of profitability of the media in the economic sector. At the same time, the interaction of advertisers, private corporations, the state and the needs of the population is studied [4].

Results.

The mass media have a significant impact on market trends in the economic sphere of the country:

• •    Informational influence: providing information about products, goods on the market, services, innovations and trends in the market, changes in government policy. All the information provided may influence the decisions of advertisers, investors and consumers;

• •    The promotion of goods and services through the media also affects economic activity and development, as the growth of supply and demand depends on it;

• •    Close interaction of the media with private commercial companies, as well as business representatives, financial experts and business analysts who can make decisions about the promotion of a particular product/service. For business development, the use of media is by far the most important tool;

• •    Features of the formation of consumer attitudes to goods and products, and therefore to the market as a whole. This is due to the dissemination of comments, feedback and exchange of opinions through social networks, and due to the wide availability of this information;

• •    The media can cover news and events that affect the economy as a whole or specific industries. For example, negative news about the industry can cause panic among investors and affect the stock price and the growth or decline of the currency [5].

Channels of influence on the audience are developing and improving due to the development of innovative technologies, software, and artificial intelligence. All this affects the peculiarities of consumer perception, which in turn play an important role in the emergence of new mass media (social networks) [7].

Such social networks include Instagram, Facebook, Vkontakte, Twitter, and other popular media. Thus, the interaction between buyers and sellers is simplified by reducing the distance – a direct impact on buyers through photos and personal content, as well as the content of organizations, using the capabilities of artificial intelligence in identifying and meeting consumer needs [6].

Social media has a significant impact on consumers:

• •    Increase in the number of purchases: 40 % of social media users, after sharing product information with friends, make a purchase [8];

Instagram Facebook, Twitter and Pinterest influence the choice of platform depending on the product category;

• •    Customer behavior: Social media users search for product information, compare prices and reviews, and then make a purchase decision [8].

Discussion.

In addition to the above-mentioned new mass media, in the modern world, the main traditional channels that convey information to potential customers and the public remain television, radio, print media, the Internet and social networks. Each of these channels has its advantages and disadvantages.

For example, television advertising may reach a wide audience, but its cost may be high and its effectiveness may be low. The target audience is divided, some do not watch TV or do not listen to the radio, but only participate in discussions on social media [9].

Accordingly, the Internet and social media are today the most popular media channels for marketing communications, due to the reach of the entire audience and accessibility, in addition, international. They also allow you to use different advertising formats, including content marketing, email marketing, social advertising and others [9].

Advertising message and communication in the social networks themselves. Social media can significantly attract an audience, strengthen a brand and create long-term cooperation. However, the mere presence of advertising is not enough. Obviously, the strategy of using media should constantly change depending on the needs of consumers and their personal changes, be carefully thought out taking into account the goals and needs of the company [8].

However, we see that in Russia, advertising costs are lower than in other countries that pay more attention to this tool. For example, in the United States of America, these costs amount to 1.37 % of GDP, while in the Russian Federation – 0.6 % [5].

One of the main problems of using mass media and new mass media is the control of the information flow, which can cause economic and political destabilization. The World Bank has released a book: «The Right to Speak – the role of mass media in economic development» (data from Zenith Optime-dia) [10]. This publication does not consider the direct impact of the media and mass media on the country's economy, but their indirect impact. Citizens are provided with special information necessary to monitor the activities of the government [10].

Conclusions.

In many countries, national media are of great importance. They contribute to the formation of people's understanding of their own identity and place in society, forming a sense of patriotism. In turn, this has an impact on relations between States.

For the Russian media, these conditions open up the opportunity to create a new trend in the development of the economy, which can significantly improve the media space. This is a perspective for the