CMST 1A03 Chapter Notes - Chapter 9: State Ownership, Vertical Integration, Horizontal Integration

• School: McMaster University
• Department: Communication Studies
• Course: CMST 1A03
• Professor: Dilyana Mincheva

Document Summary

Readings 9 chapter 9 (ownership and the economics of media) The economics behind media is one of the central preoccupations of our time. A medium of communication in and of itself. Serves a number of purposes: most obvious one being to provide consumers with information about goods and services available in the marketplace, less obvious is the role of advertising in the overall economy. A capitalist economy requires consumer spending advertising helps with this: it makes mass marketing attinable. Digital advertising = the biggest growth sector in media advertising over the past two decades. Resources: the ingredients media producers require in order to generate and disseminate communicative content: media economics study how these resources are acquired and paid for, fall into five categories: time, labour, technology , capital and material resources. Each society makes decisions about how to structure its economy to satisfy its needs and wants.