Home > Uncategorized > Media economics. blog #4

Media economics. blog #4

In a society where the media is growing more and more competitive to gain profits, it seems as though Media Economics has taken a hold of the industry.  With more emphasis on profit, fewer people with journalism experience and more people with business experience are taking up executive roles.  The result of this simple change is management is affecting the entirety of the media industry.   The theory that the change in the goal that the executives are trying to reach in media, from good news to making a profit, seems to explain the most clearly why so many changes in the media are taking place.

Since large media corporations are changing their focus to making a profit instead of reporting the news, the quality of information provided has been dropping rapidly in order to accommodate advertising.  The number of long term feature stories is declining in order to accommodate beats, which are cheaper and easier to produce.  This change in the types of stories that journalism can cover is preventing many important news from ever reaching the public.   This type of selective story coverage based on monetary reasons instead of the actual quality of news is hindering the quality of our news coverage.

The news that is now being reported is also geared to help advertising.  The programs are being strategically presented in a way that maximizing advertising time and effectiveness.  This problem in the media is completely based on a shift towards revenue and profits instead of towards the customer.  In an age when so much inf;ormation can be accessed for free online the biggest revenue for print and television news comes from advertisers.

The media owes it to their subscribers to report not only news, but to also investigate news that is hard for the public access.  It is the stories that the news has to spend time searching for, investigating, and compiling into a coherent story that makes the news sources so important in our culture.  When corporations overtake news companies and begin to focus solely on profits the quality of information given to the general public.  It is these problems in our current media that are creating distrust and confusion within public media.

If our media can return to it’s previous free and independent state where it is not controlled solely by profit driven corporations, there will be many improvements in the industry.  With less profit driven news our news will be more representative of current events, and be less influenced by political figures in the corporate media.  All of these improvements support the theory that a change in media economics would positively benefit the entire media society in the united states.

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Categories: Uncategorized
  1. Kathleen
    October 22, 2011 at 5:16 am

    Thanks, Annemarie! Great commentary on media economics!

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