Media Economics in the Age of AI

Today entire globe is witnessing hyper transaction of information and communication hence many scholars are using the phrase that we are living in the age of ICT. This technology is getting more robust and fine day by day and today we can witness Artificial Intelligence (AI) is transforming the media industry from content creation to distribution and has also changed the consumption of media content. AI has introduced new model of revenue, AI impacts the economic models and market dynamics of Indian media houses. This technology is not only disrupting media's traditional revenue models such as advertising and subscription services but also creating new opportunities for revenue generation in the new media era. AI technologies enable media houses to develop engaging content for particular audiences by analyzing huge amounts of data to improve their content and identify the preferences and needs of their audiences. Journalists in media offices can create content more quickly and efficiently with AI.

AI reduces costs on content and allows quick response to trends and current events. Under such circumstances, media houses can get sponsorship and advertisements, which can generate income in a different way contrary to the traditional medium. Based on content consumption data, AI can predict the type of content that will perform well. This helps media companies allocate resources to content or programs that have a higher chance of success, thereby maximizing their budget and increasing profitability for media houses. This paper examines how AI technologies are transforming media content creation, distribution and consumption, impacting market dynamics and economic models. Through case studies, interviews with industry experts and quantitative analysis of market trends, focusing on Indian media houses, this research aims to present a thorough knowledge of how artificial intelligence will influence media economics in the future.