Media Economics Essay

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MEDIA ECONOMICS
Media Economics
Media economics as sub-field of economics analyses the firms, industries, and activities of media enterprises, drawing on theories and concepts from economics. It encompasses economic theoretical and practical economic questions specific to media of all types. The major concern with regard to media economics are the economic policies and practices of media companies and disciplines including journalism and the news industry, film production, entertainment programs, print, broadcast, mobile communications, internet, advertising and public relations. Media ownership and concentration, deregulation of media, market share, intellectual property rights, competitive economic strategies, company economics, "media tax" …show more content…

Concentration of media ownership (also known as media consolidation or media convergence or media concentration) is a process whereby progressively fewer individuals or organizations control increasing shares of the mass media. It refers to the idea that the ownership of various media is restricted to a relatively small number of companies. The majority of the major media outlets are owned by a proportionately small number of conglomerates and corporations. Globally, large media conglomerates include Viacom, CBS Corporation, Time Warner, 21st Century Fox and News Corp ,Bertelsmann AG, Sony, Comcast, Vivendi, Televisa, The Walt Disney Company, Hearst Corporation, Organizações Globo and Lagardère Group. The development in communication technologies made it technologically possible and economically feasible for media conglomerates to establish distribution and production networks across continents. A number of U.S. media conglomerates that dominate the U.S. media markets, along with a few Asian and European media conglomerates such as Sony Corp., Bertelsmann, Vivendi, and Pearson, dominate the global media landscape. These media conglomerates have operations worldwide and distribute their content or provide services to a world …show more content…

All these media consolidations have concentrated ownership over the U.S. media market—these media consolidates controls more than half of the total media revenue in the U.S. As a result this concentration of media ownership in the hands of few, these media consolidates have a great impact on what the audience listens to, watches, and reads via different media platform such as television, newspapers, the Internet, radio and

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