Date post: | 16-May-2015 |
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Media Ownership
• The Media controls the world, but who controls the media ?
What is Media Ownership?
• It is a process whereby progressively fewer individuals or organizations control increasing shares of the mass media.
• Contemporary research demonstrates increasing levels of consolidation, with many media industries already highly concentrated and dominated by a very small number of firms.
Conglomerates that run the world
Synergy in the Media
• In media economics, synergy is the promotion and sale of a product (and all its versions) throughout the various subsidiaries of a media conglomerate.
Types of Synergy
• Cross-promotion
• Cross-production
• Cross-advertising
Cross-Promotion
• Promotes own stations through media outlets.
• Example:
• Time Warner owns HBO & CNN
• CNN airs commercials of films shown on HBO or vice versa.
• It saves money and provides wider promotion.
Cross-Production
• Taking one original product and producing it in different forms.
• Batman which started as a comic book character has movies, TV Shows and soundtracks in its name.
• Warner Brothers produced the Batman series.
Cross-Advertising
• When an outside company wants to advertise using the conglomerate, they will use all the media outlets of the conglomerate.
• IIFA awards ceremony was aired on ‘Star Plus’, but the advertisements were shown across all Star Network channels.
Advantages
• The biggest beneficiaries of media conglomerates goes to the performers or actors.
• They are a part of one aspect of media conglomerate but also have access to all the media outlets of a conglomerate.
• Another big advantage of conglomerates is the quality. As the conglomerate earns profit it gets distributed to all its outlets even if one of them is not performing well.
Disadvantages
• The parent company might omit some information from all its outlets that could be against its policy.
• News coverage usually is in favour of the parent company.