AHSS*1060 Lecture Notes - Lecture 9: Alternative Media, Vertical Integration, Externality
Mass Communication - AHSS 1060
Chapter 9: Ownership and Economics of Media
-Instream media companies are increasingly part of concentrated conglomerates,
placing emphasis on revenue generation.
-Communications workers face a more competitive and precarious labour market
as media companies rely increasingly on flexible contract work.
-Audiences have become even more active in the era of digital media, allowing
consumers to become producers.
Particularities of Media Economics
-Five categories of resources
1. Time: investment of time to create media content
2. Labour: number of people and the need for specialized skills
3. Capital: investments with the expectation of returns
4. Technology: equipment and the specific software applications required by
media org.
5. Material resources: the need for material resources links media economy
to other industries
-Aspects of economic markets:good or service offered + boundaries within which
this offer takes place
-Media markets serve two markets at the same time: Audience market and
Advertising market
Satisfying Needs and Wants
-Western democracies value freedom of the individual and freedom of the market;
even free markets are controlled to some degree by the government.
-Governments at all levels participate in the economy.
-Free markets are now being embraced worldwide, advancements in technology
are increasing trade and communication across borders, and globalization is
changing attitudes towards communities and nations.
-It is increasingly difficult for governments to control cultural production in a
globalizing world.
Private Corporate Ownership
➔Free markets self-regulate through rates of supply and demand.
➔In contemporary economies, corporate monopolies dominate the market
and squeeze out smaller players.
➔Governments also intervene in economic processes.
Economism
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Instream media companies are increasingly part of concentrated conglomerates, placing emphasis on revenue generation. Communications workers face a more competitive and precarious labour market as media companies rely increasingly on flexible contract work. Audiences have become even more active in the era of digital media, allowing consumers to become producers. Aspects of economic markets:good or service offered + boundaries within which this offer takes place. Media markets serve two markets at the same time: audience market and. Western democracies value freedom of the individual and freedom of the market; even free markets are controlled to some degree by the government. Governments at all levels participate in the economy. Free markets are now being embraced worldwide, advancements in technology are increasing trade and communication across borders, and globalization is changing attitudes towards communities and nations. It is increasingly difficult for governments to control cultural production in a globalizing world. Free markets self-regulate through rates of supply and demand.
