Conclusion: New Directions and Ramifications After the Great Media Shakeout as Hollywood Enters Its Second Century

The global media industry experienced unprecedented disruption in the last decades as a result of the ever-expanding digital convergence. Its contours have been reshaped by the increased competition among legacy media conglomerates challenged by the tech giants, which operate as media companies as well. The rise of new digital streaming platforms, the increasing relevance of social media entertainment, and the impact of the covid-19 pandemic are upending media industry practices forged over decades in the legacy media space. These changes bring to the fore the necessity for all the players involved to reevaluate their competitive positioning in the new landscape shaped by different, competing institutional logics. This chapter concludes the volume identifying its most relevant findings, sketching a roadmap to understand the unfolding changes and their ramifications, and suggesting themes and research questions for future interdisciplinary scholarly endeavors above and beyond the analysis of the business and economic dynamics of the media industry.