economics - Media Economics December 2, 2010 I. Media as a...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Media Economics December 2, 2010 I. Media as a Culture Industry A. Media as “Our” Culture: 1. Moral beliefs 2. Tradition 3. National identity 4. Social uplift 5. Democratic value B. Media as an Industry (in the U.S.) 1. Private: only a few people decide what our culture will be 2. For-profit: companies that run the media 3. Oligopolistic: a handful of large, privately owned companies 4. Trans-national: industries are interconnected across the world II. Common Dynamics within Culture Industries A. Defining features 1. High risk/unpredictable: hard to strike a hit and know what viewers are going to want, 80- 90% of albums, books, and TV shows fail 2. High production costs/low reproduction costs: have to pay a lot in the beginning to produce and pay everyone involved, but replicating and distributing is cheap and profitable 3. Public good: by experiencing media the value of it doesn’t go down for the next person who uses it B. Consequences/Responses 1.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/27/2012 for the course COM 143 taught by Professor Becker during the Fall '08 term at Miami University.

Page1 / 2

economics - Media Economics December 2, 2010 I. Media as a...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online