Vertical + horizontal integration Flashcards
Define commodified:
When something has been commercialised (turned into a product to be sold)
What is vertical integration?
Where many large companies own subsidiaries that allow them to control all stages of production
What are subsidiaries?
Small companies that work underneath big companies
What did vertical integration lead to?
Concentration of media ownership - Now fewer media companies
Could lead to less variety in products
What is horizontal integration?
Where theres a purchase of competing companies within the same industry
Define neo liberal:
Economic practises that support free markets + private property
What principles do the free markets work on?
- Businesses will compete + only those providing what audience wants will succeed
- Market should be free
- Measure of success is the amount of money made
What is product placement?
The inclusion of products, logos, and/or brands within the media product itself
What are advertorials?
Paid for ads that are presented as if they were editorial content in newspapers, magazines, or on websites
