The Power Struggle Within Viacom

From the early days of American media combine Viacom, the organization has been both an American success story as well as drama of the highest order. In this paper, the succession battles that have shaped Viacom in recent years will be discussed, along with other key topics in order to fully explore where Viacom began and where it is headed in the future.

The Industry in Which Viacom Competes and the Characteristics of the Industry Itself

Simply stated, Viacom competes primarily in the media entertainment industry, which in this case refers to cable and satellite television networks, movie production and distribution, and in recent years, Internet ventures. This particular industry is characterized by constant change, facilitated by technological innovations, increased competition, and the changing tastes of the consumer. Viacom is indicative of this change, having evolved from a broadcasting company in the early days of television to embracing the Internet and satellite radio in the 21st century.

Porter's Five Forces as They Apply to the Industry

In order to truly understand the dynamic nature of the media entertainment industry, the application of Porter's Five Forces is very helpful. This application is as follows:

HOW THE FORCE APPLIES TO INDUSTRY

Suppliers
Entertainment can be a cut throat business
Potential Entrants
The dynamic nature of technological advances makes new entrants into some parts of the industry rather easy.
Substitutes
Viewers' tastes frequently change, providing little loyalty to any particular network, etc.
Buyers
Advertising buyers dictate television programming choices; moviegoers dictate film offerings, etc.
Competitors
Competition is fierce; ethics are often questionable