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Blog #4

Of the four media effects discussed, media economics, media ecology, active audiences, and media effects, all contribute greatly to the media as a whole.  However, the area of greatest interest to me is media economics because it brings up so many questions and has such a huge role in media all together.  Economics in general is interesting, but just the media side of economics has a larger effect than people may think.  Through this course I have learned a staggering amount on the media, and taken a particular interest in the money or economic side of it.

Media Economics may sound boring to some, or irrelevant when discussing the media, yet it is the most, or one of the most important aspects of media.  What astounds me about this subject is the power that the major corporations have.  All the information I have on the subject has come from this class and the readings, clips, and speeches we have seen.  When I first heard of the “Big 5,” as I like to call them, referring to the five major media corporations (Time Warner, The Walt Disney Company, News Corp. Viacom, and Bertelsmann AG), I could not believe that only five corporations owned all the channels, radio stations, magazines, and newspapers I see everyday.  This is where media economics really plays an important role in the overall control of what we see.  I like the example we saw from the video in class that, as well as a couple of book examples, that discusses how one company can essentially have a monopoly on everyday entertainment.  I say this because the video clip from class showed us how a major blockbuster that one studio releases is owned by a corporation.  That same corporation owns a newspaper where they advertise the movie, a television channel where they advertise or mention the movie, and radio stations where again, they tell you to go see this movie.  By doing this they can literally surround you in a number of ways all on one subject.  This is just one example of how a single corporation, with numerous companies, can control almost every aspect of media, which eliminates competition and makes them a lot of money.

It is not that the others media theories are not of interest to me, media economics is more to my liking with all the business deals and power they have.  I feel like media economics is like an umbrella for the entire media industry covering every aspect of it.  What some CEO says can have a major “effect,” on who views it, how they view it, and what they think of it.  It isn’t as simple as that, but essentially that is how it can affect the industry.  The media, in all forms, is incredibly powerful and plays a huge part of our daily lives.  So if somebody, or some company can control a major part of your life, then they are on their way to controlling you.  Media is fascinating, in good ways and bad, but the media economics to me is the most interesting, and important.

 

 

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Categories: Uncategorized
  1. Kathleen
    October 22, 2011 at 5:54 pm

    Good evaluation of the importance of media economics, Tanner. I’m glad you were able to find a theory that speaks to your interests of business and power.

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