ANALYSIS OF PUBLIC ADMINISTRATION RISKS IN THE MEDIA SPHERE AND METHODS OF THEIR MINIMIZATION

Abstract

Problem. The modern model of public administration in the media sphere views the industry as a crucial mechanism for shaping a unified value and cultural space, based on the principle of ensuring state sovereignty and security. A consequence of this public administration model in the media sphere is the formation of rigid regulatory approaches characterized by a list of risks, including complex and systemic ones, which hinder the industry's dynamic economic development and competition. Methodology. The research was conducted using quantitative, qualitative, and scenario-based risk analysis methods, based on the accounting (financial) statements of media representatives, public administration reforms aimed at minimizing individual risks, and sociological surveys. Additionally, the study draws upon international experience in public administration within the media sphere for a more in-depth analysis. Research Results. The analysis of public administration risks in the media sphere and methods for their minimization revealed the effectiveness of implemented measures in mitigating political risks in the short term. However, the consequence of this minimization is the emergence of significant economic risks, including potential ones, capable of damaging the industry in the medium and long term. The identified current and potential risks have allowed for the formation of a public administration risk matrix that considers the specifics of the media sphere. The uniqueness of the developed risk matrix lies in the addition of three dimensions beyond the traditional two – probability and impact – enabling a more objective risk assessment. Practical Application. In accordance with the proposed matrix, the level of current and potential risks most characteristic of public administration in the media sphere has been assessed, allowing public administration entities to reallocate efforts towards minimizing risks with the highest levels.