LO1 Flashcards
What is a Specialist Provider?
Specialist providers work in one media sector and produces specific products
(e.g. Video game company making Just video games)
What is the definition of Production?
Production is the pre-planning , post production and making of a product
What is a conglomerate?
A conglomerate is a large organisation made up of many other businesses and companies called subsidiaries that all work to support the parent company
What are Subsidiaries?
Subsidiaries are smaller companies in a conglomerate that run independently but support the parent company
What is a Joint Venture?
A joint venture is two companies working together on a project that will be mutually beneficial for both companies.
What is Distribution ?
Distribution is how the product reaches the consumer or audience and how it gets promoted on the market
What are Independent Companies?
Independent companies are companies that specialise in one type of media product that are not involved with a conglomerate
What is a Public Service Company?
A public service company is funded by public money and have a duty to provide content for the benefit of all citizens
What is a Cross Media Conglomerate?
A Cross Media Conglomerate is a conglomerate that produces more than one type of media.
What is a Cross Media Ownership?
A cross media ownership is when a media institution owns two or more companies that specialise in different media sectors.(e.g. Sony is a conglomerate company that own subsidiaries operating in media sectors such as games and film production)
what is vertical integration?
Vertical integration is when a media company owns different businesses in the same chain of production and distribution (for example 20th century fox owns cinemas, TV channels, DVD rentals as well as the studios in Hollywood.)
What is Horizontal Integration?
Horizontal Integration is the process where a company increases the production of goods or services at the same part of the supply chain.( For example, when Disney brought Pixar because Disney had started out as an animation studio then targeted to buy Pixar because they had more cutting-edge technology to make animated movies.)
What is the definition of Synergy?
Synergy – the increase efficiency and profit that occurs as a result of vertical and horizontal promotion. Conglomerates are formed to create synergy in order to cross promote. (For example, Different parts of the company working together for example the Walt Disney studios working with Disney interactive to make ‘Disney Infinity’)
