The Media Industry: How It's Economic Structure Impacts Consumer Behavior - By Sarah Adams

The media industry can be evaluated as a highly concentrated system of ownership performing under profit-driven logic within an oligopolical market structure. The concentration and conglomeration of media firms encourage production of content that will maximize industry profit. Media's concentrated ownership imposes pressures of corporate capitalism, exploits overpowering affects of advertising, and generates media's ultimate externality, a hyper-commercialized society.

An important aspect of the media industry is the role of advertising as its primary source of revenue. Early advertising produced dry, informational content regarding product prices and attributes; however, the progression of corporate capitalism influenced the emergence of advertising as an ideological and cultural social force (McChesney, 143). FINISH READING ON "Sports Business Simulations"

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