CH4_Media and Money - disposable income on media people are...

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Media and Money CMNU230 Dr. Do Kyun Kim
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How much do people spend? $2,000 / household / year on entertainment (2004) $673 / person / year on media What are the items for spending? How much do you spend?
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Principles to Economy… Use value / Exchange value Commodities Money Labor theory of value Surplus value (=profit) How does a capitalist create surplus value? Economy of scale!
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The Sources of Media Support Direct purchase (Transferring of ownership) Admission to Access - Difficult of charging for new media Advertisement - Advertisers find that they must develop strategies to identify who their potential markets are, where they can be found and how best to appeal to them Tex
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Competition among the Media Forms of competition - direct competition - indirect competition both within and across media (Principle of relative constancy) individuals spend a constant portion of their
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Unformatted text preview: disposable income on media; people are spending relatively more on media and less on other items. -> consider the effect of new media Profit in the Media Industries • Supply and Demand Curve • Break-even point • Risks- Consumers have little brand loyalty- Inability to control the creative process • Possible Strategies- Maximizing the investment capital- Integrating the production process: : Vertical integration / Horizontal integration- Economies of scale Case Study… • Read, think, and talk! Possible Problems of Media Industries in the Capitalistic Society • The increasing concentration of media ownership leads to increasingly tight corporation control over information and ideas. • Monopoly / Oligopoly: Media giants decrease positive competition and the need to be creative and unique. • Cultural Imperialism • And what?...
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This note was uploaded on 04/15/2008 for the course COMMUNICAT CMNU220 taught by Professor Dr.kim during the Spring '08 term at Northeastern.

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CH4_Media and Money - disposable income on media people are...

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