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Media Economics. The Global Marketplace. The beginnings of Mass Media. Urbanization Mass Production Industrialization Education & Literacy. Free Market v. Government Controls. Monopoly Oligopoly Limited Competition. Monopoly. No competition AT&T up through the 1980s Microsoft?.

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media economics

Media Economics

The Global Marketplace

the beginnings of mass media
The beginnings of Mass Media
  • Urbanization
  • Mass Production Industrialization
  • Education & Literacy
free market v government controls
Free Market v. Government Controls
  • Monopoly
  • Oligopoly
  • Limited Competition
monopoly
Monopoly
  • No competition
  • AT&T up through the 1980s
  • Microsoft?
oligopoly
Oligopoly
  • Limited competition
  • Feature films
  • Commercial Recording
limited competition
Limited Competition
  • “Many producers and sellers but only a few differentiable products within a particular category.”
  • Radio Broadcasting
media specialization
Media Specialization
  • Audience Fragmentation
  • Increased emphasis on audience and market research
  • The business of broadcasting: Selling audiences to advertisers.
collecting the revenues
Collecting the Revenues
  • Direct Payment: Books, Cable Television, CDs, etc.
  • Indirect Payment (Advertiser Supported): Television, Radio, Daily Newspapers, Consumer Magazines
the shift to information economy
The Shift to Information Economy
  • More than 50% of the U.S. economy based on creation, packaging and selling information, than on manufacturing.
economies of scale
Economies of Scale
  • Higher production output lowers cost.
  • Except where oligopolies keep prices artificially inflated.
  • In general, economies of scale allow the U.S. to dominate the world’s media marketplace.
de regulation
De-Regulation
  • Preceded by “RE-regulation.”
  • Brought about by cuts in government spending in the late 1970s.
  • The Free Market philosophy.
  • Technological Darwinism.
free market and technological diffusion
Free Market and Technological Diffusion
  • The consumer will determine the better mousetrap.
  • The government will not impose a standard.
  • The result is the “DCC,” the “Betamax,” etc.
  • Often this is the technology we export to the “have-nots.”
two views of media consolidation
Two views of media consolidation
  • Proliferation versus diversity.
  • The same dichotomy extends to views of globalization.
  • “Our economy suffers from job loss, but we want to buy $25 DVD players.”
synergy
Synergy
  • Cross-promotions. (e.g. Disney)
  • Seagrams promotes concerts for artists on Universal labels.
  • Product placement in television, films, video games, sports events.
what happens when the product is news
What happens when the product is “news?”
  • Viewing news as a commodity
  • Defining news
  • Packaging news
  • Selling news
cultural imperialism
Cultural Imperialism
  • Viewed as the “imposition” of American culture and values on other (developing) nations.
  • Global Village or Cultural Homogenization?
  • Hegemony.
capitalism v democracy
Capitalism vDemocracy
  • Are they the same?
  • What are the similarities? Differences?
  • Criticisms of capitalism.
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