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Lecture 10

MGTA01H3 Lecture Notes - Lecture 10: Economism, Profit Motive, Canadian Content


Department
Management
Course Code
MGTA01H3
Professor
lewiskaye
Lecture
10

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Week 10 November 15, 2016 Ownership and Economics of the Media
Recap of Last Class
1. Telecommunications
2. Broadcasting
3. Recorded Music
4. Cinema
5. New Media
6. Publishing
7. Postal Service
Overview of Today
1. Particularities of Media Economics
2. Satisfying Needs and Wants
3. Organizing Structures
4. Public vs. Private Ownership
5. Implications of Private Media Ownership
6. New Labour Issues & Media Democratization
Introduction
Mainstream media companies are increasingly part of concentrated conglomerates,
placing emphasis on revenue generation.
Communications workers face a more competitive and precarious labour mkt 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
oTime: investment of time to create media content
oLabour: number of ppl and the need for specialized skills
oCapital: investments with the expectation of returns
oTechnology: equipment and the specific software applications required by media
organizations
oMaterial resources: the need for material resources links media economy to
other industries
Two aspects to economic markets:
oThe good or service offered
oThe boundaries within which this offer takes place
Media markets serve two markets at the same time:
oAudience mkt
oAdvertising mkt
Satisfying Needs and Wants
Western democracies value freedom of the individual and freedom of the mkt.
oEven 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.
find more resources at oneclass.com
find more resources at oneclass.com
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