COMM1020 Lecture Notes - Horizontal Integration, Dont, Technological Determinism
Document Summary
Make a profit and increase the rate at. Which profit is generated: to sell a commodity at a higher price than it costs to make it. Surplus value what"s left over after, when the exchange value is higher than its cost of production: surplus value is reinvested to grow the business and make it stronger, ultimately creating an even larger profit. The business of media: commercial mandate, operated for profit, owned by corporations with belief that corporate interest maps neatly onto public interest and democracy. Often riffed with tension: central revenue models: Selling media content to users: newspapers. Example: hollywood as america"s dream factory : shaped american"s idea of glamour, capitalism, consumerism selling dreams of idealized versions of the self or society, high risk for profit/success, uncertainties are built in: How do media industries respond: try to create value through differentiation, genres, stars, brands, utilize economies of scale, hits offset the misses .