Media Control, Media Regulation, Media Landscapes and Ownership Patterns Flashcards
Political economy was
Political economy was the original term from the early nineteenth century for what we now think of as ‘economics’. Political economists were interested in who owned land, labour and capital and what the political consequences of their actions in using these resources might be.
media conglomerates.
Such companies mostly:
- operate across national boundaries;
- operate across media sectors and also, perhaps, in associated
industrial sectors such as telecommunications; - are owned by shareholders (often institutional shareholders such as pension funds) and managed by a managerial business class who may have little direct experience of creative media;
- have headquarters in the US, Europe or Japan;
- are big enough, especially when working collectively through business
or trade associations, to lobby effectively against restrictions on their activities proposed by national and international regulators.
However, there are several other factors that suggest that the steady march of the media conglomerates towards complete domination of global markets might not be inevitable. They include:
However, there are several other factors that suggest that the steady march of the media conglomerates towards complete domination of global markets might not be inevitable. They include:
* the failure to make large corporations work effectively for the benefit
of shareholders and the decision to ‘de-merge’ in recent years (e.g. Viacom and AOL-Time Warner);
* the impact of the recession of 2008–9 and the sudden recognition that
private industry sometimes needs public sector support;
* the development of new competitors in the growing markets of India and China;
* the emergence of new business models which threaten to undermine traditional ways of working.
Synergy
Synergy – the concept that extra value could emerge from using the effort put into one product in the production and promotion of another. For example, a
media conglomerate working with an author in a publishing division might also consider film, television and game adaptations in other divisions of the same company
(or commercial partner company).
Vertical integration
Vertical integration has a long history in the film business. It refers to control over the whole process of making, distributing and exhibiting a film
Horizontal integration refers to
Horizontal integration refers to control over companies working across the same market sector
A model in social sciences is
A model in social sciences is a theoretical construction which enables
policy-makers to predict what might happen in the future – e.g. how the population might grow, whether the price of oil will go up, or, in media industries terms, what will happen to television in any country when the analogue service is ‘switched off’ or when broadband access is sufficient for everyone to watch high-quality streaming video
Media activity has an impact on society in three ways.
1 As a social activity, it can bring benefits associated with better information, insights, understanding and, of course, pleasure in our enjoyment of interaction with media products and other media users. At the same time, media activity could be harmful if it led to increased ignorance, encouraged violent and anti-social behaviour, or interfered in some way with other forms of social activity.
a cultural activity, it can be considered as art practice. It can contribute to the cultural heritage of communities and enable us to explore ideas in new ways and to enrich our experience. Viewing media texts as art objects gives them a different status compared with texts which have a more instrumental social use or for which entertainment is a primary function.
capital, creating wealth for individuals, companies and regions/nations. In a capitalist system based on the concept of risk, it can also be associated with business failure and the social disbenefits that can bring. The so-called ‘cultural’ or ‘creative’ industries are of great importance in post-industrial societies that have managed to shift most forms of heavy industry and manufacturing to economies with lower labour costs. Governments are beginning to appreciate the contribution of the media industries to this sector – but perhaps
it hasn’t yet been appreciated by society at large?
Is the best form of regulation organised by:
Is the best form of regulation organised by:
* governments
* media institutions themselves
* the operations of the market
* some other way?
. Public service
broadcasting (PSB)
Linked government policies in many countries saw:
Linked government policies in many countries saw: the privatisation of what had been public sector monopolies in broadcasting and telecommunications – what had been publicly owned utilities were now privatised; these new private sector companies were free to attract investment into new media products and services;
* the ‘loosening’ of regulatory controls, especially in broadcasting,
which allowed previously tightly regulated broadcasters to lose some of their public service obligations;
* the ‘opening up’ of media markets with new licences for broadcasting
services, particularly in radio, satellite and cable. Restrictions on ‘cross-media ownership’ were also gradually lifted. This was the liberalisation of the market.
At the same time, media producers have found themselves faced with three other factors:
At the same time, media producers have found themselves faced with three other factors:
* the structure of the global economy has shifted with the emergence
of China and India and significant other ‘players’ such as the wealthy Arab states funding Al Jazeera or the Iranian English language television service;
* national governments find themselves constrained in media policy
by trade agreements – especially in the enlarged European Union but also in the wider context of GATT; regulatory regimes have also begun to meet and organise on a European-wide basis (see below);
* the growth of internet services, especially peer-to-peer sharing, makes
it very difficult to monitor what is being distributed within national boundaries.
The proponents of the free market in broadcasting are likely to offer these observations:
The proponents of the free market in broadcasting are likely to offer these observations:
* People want popular programmes: why shouldn’t they have what they
want? (This argument is often couched in class terms, with the public service supporters represented as being a middle-class elite, out of touch with the tastes of the majority.)
* The market is very conscious of ‘niche audiences’ who want very
different kinds of programmes. These audiences are often ABC1 and
attractive to advertisers. As such they are targeted by schedulers (and online retailers).
* The market makes producers more focused and more efficient
(an argument often made to explain the success of imported US programming).
* Were the majority of programmes any better under the old system?
Yes, there were some great television plays and some classic sit-coms, but what about the rest?
