CMST 1A03 Final: CHAPTER 9 CMST - FULL NOTES

• School: McMaster University
• Department: Communication Studies
• Course: CMST 1A03
• Professor: Terence Flynn

Document Summary

Introduction: mass media is not organized in any natural or inevitable way. Allocating resources: time, time is needed in order to produce media content and share it with the world. Two aspects to economic markets (offered, and boundaries: the good or service offered - offering entertainment and a sense of pride, the boundaries within which this offer takes place. Media markets serve two markets at the same time (a,a: audience market: david letterman show/built an audience, advertising market: how to get people into seats. Inability to recognize longevity of cultural products: failure to support infant industries, failure to recognize the full benefits of cultural production, outside of immediate market value. 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: 2-3 companies control our media landscape in canada, governments also intervene in economic processes.