COM 101 Chapter Notes - Chapter 13: Edward Bernays, Niche Market, Monopolistic Competition

• School: University of Miami
• Department: Communication
• Course: COM 101
• Professor: Shapiro Mitchell

Document Summary

Com101 ch 13 outline - media economics and global marketplace. Some are concerned about the increasing power and reach of large media conglomerates. Others maintain that w e cient and generous pro ts, they are quality orgs. (free-market) Monopoly: single rm dominates production and distribution: at&t was telephone monopoly until breakup, microsoft ordered to split into two separate companies. Monopolies more plentiful on the local level. Many local media companies purchased by national rms. Universal, warner, sony: respond to each other, little competition from small rms. Monopolistic competition: media market w many sellers but only a few products: ex. Many radio stations but only a few formats: country, hip hop, talk show: alternative products rare bc expensive and competitive. Pay attention to how rms set prices, live up to expectations. Newspapers losing classi ed revenue to internet had to downsize, print fewer days, declare bankruptcy. Collects revenue through direct and indirect payments: direct: supported by consumers, ex.