Online social media has replaced Main Street USA as more and more citizens meet, develop, and maintain relationships in virtual reality. Whether to offset busy lives, physical distance, or just plain loneliness, social media has changed the way we are meeting and getting to know one another. Absent shared experiences in the physical world, virtual social friends “connect” and bond through what is easily known – the products of our mass culture industries – Music, Film and Television. It is here that we begin to see how Culture becomes Currency and why there will always be a need for its mass production.
Mainstream media products have now become the glue that connects our virtual and physical lives and just like
monetary currencies, different cultural products provide different value. TVB has engaged in a year-long study of Cultural Currency and its relevance to the television industry, specifically. Operationally, mass culture products need to meet two conditions to achieve Cultural Currency:
The Cultural Currency Map of Primetime Entertainment Television
Evaluating the Cultural Currency value of television provides a roadmap for programmers and marketers seeking media environments that can help their brands transcend the moment and gain tangible traction with consumers. Different media channels drive different social media behaviors and reap different benefits for marketing partners. In the television medium, national networks and local stations work together to drive cultural currency transactions through common ground. Nationally, television networks provide the common ground to make connections, while locally, TV stations curate common ground to build the communities who ultimately make purchases. In the end, of course, all sales are local.
TVB's Cultural Currency Study Summary — Cultural Currency: Where Television Meets Social (PDF)